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Iran may charge "insurance fees" to ships passing through the Strait of Hormuz

2026-06-20 14:33:56

Mars Finance News, June 20, According to the UK Financial Times, the Iran Persian Gulf Strait Authority issued a document requiring all ships to hold insurance approved by the agency in order to pass through the Strait of Hormuz. This insurance is free within the period specified by the US-Iran Memorandum of Understanding, but may be charged later. The document is circulated among shipping industry management. The document states, "All ships must hold a valid insurance policy approved by the Persian Gulf Strait Authority," currently this insurance is "free of charge," but the authority "reserves the right to charge premiums in the future."

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