Iran wants to collect an “insurance fee” from vessels transiting the Strait of Hormuz after the 60-day agreement with the US expires, according to multiple media reports.
The fee would effectively allow Iran to cement its sovereignty over the Strait of Hormuz, but would likely require the cooperation of neighbouring Oman, whose territorial waters border Iran’s.
Iran agreed not to charge any fees in the waterway during the 60-day ceasefire with the US, termed the Islamabad Memorandum of Understanding, but the agreement left open the possibility of a new system afterwards.
Tehran’s newly created Persian Gulf Strait Authority circulated a letter within the shipping industry that appears to lay out plans to charge a fee once the 60-day window passes.
“This insurance is provided free of charge to the vessel owner, with all expenses covered by the Islamic Republic of Iran,” the letter said, according to Lloyd’s List, a maritime intelligence publication.
