Iran Declares Ships Need Permission to Transit Strait of Hormuz, May Add Fees
Iran announced that all vessels passing through the Strait of Hormuz must obtain permission and mandatory insurance, with potential future fees, raising the prospect of long-term control over the key oil chokepoint.
Iran has stated that no ship may cross the Strait of Hormuz without its permission, according to a Bloomberg report. The move sets the stage for future tolling arrangements, as Tehran says it could introduce "insurance fees" for transit.
Under the new rules, all vessels must secure a mandatory insurance policy to pass through the strait. While the policy is currently free for the next 60 days, charges could be introduced afterward. Iran also mandates that ships follow a prescribed route and prohibits any alternative pathways.
The announcement references a memorandum of understanding with the United States that specifies free transit through the Strait of Hormuz only for the 60-day term of the MoU. This suggests Iran may be preparing for long-term control over the waterway, a critical conduit for global oil shipments.
Source: The Kobeissi Letter