Iran has said it reserves the right to charge ships “insurance fees” for passage through the Strait of Hormuz as it seeks to establish control over the waterway following the interim peace deal with Washington.
In a document circulated among shipping industry executives and seen by the FT, Iran’s Persian Gulf Strait Authority said that “all vessels must hold a valid insurance policy approved by the PGSA”.
While this would be provided “free of charge” for the moment, the PGSA — a government agency created in May — said it “reserves the right to introduce insurance fees in the future, which will be determined by the relevant insurer”.
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