Iran pushes new insurance rules for ships in the Strait of Hormuz
Iran pushes new insurance rules for ships in the Strait of Hormuz
Updated at: June 20, 2026 at 09:30 AM
As of June 20, 2026, tensions have escalated in the Strait of Hormuz.
Iran’s newly formed Persian Gulf Strait Authority (PGSA) has mandated that all vessels transiting this critical chokepoint must now hold insurance approved exclusively by them.
While the service is free for the first 60 days, experts fear this is a precursor to mandatory tolls, effectively allowing Iran to assert unilateral control over one of the world's busiest oil transit routes.
President Donald Trump and Iranian President Masoud Pezeshkian, which promised toll-free passage.
Despite some vessels successfully navigating via the Omani coast, the security situation remains volatile.
Reports of warning shots by the IRGC and contradictory diplomatic signals have left the shipping industry in a state of high alert, struggling to navigate an increasingly uncertain maritime environment.
