Middle East Eye
centerREPORTIran plans to charge insurance fees to vessels in Hormuz after US deal expires

Full BriefGenerated 50d ago
What Happened
Iran’s newly created Persian Gulf Strait Authority (PGSA) circulated a letter to the shipping industry outlining plans to charge insurance fees for vessels transiting the Strait of Hormuz after the 60-day Islamabad Memorandum of Understanding with the US expires. The letter states that insurance is currently free but reserves the right to impose fees, mandates transit routes via Larak Island, and threatens penalties for non-compliance. The PGSA, which is under US sanctions, claims authority over transit applications and permit issuance. Industry reactions are divided: Greek shipping magnate Evangelos Marinakis expressed willingness to pay a fee as an alternative to high war-risk premiums, while other owners and Greek Prime Minister Kyriakos Mitsotakis oppose any toll. Oman’s cooperation is critical, as its territorial waters border Iran’s; Omani officials have privately signaled openness to charging a fee under UNCLOS for safety and environmental services, despite US threats.
Key Actors
- ·Persian Gulf Strait Authority (PGSA)(Iranian entity overseeing Strait of Hormuz transit)Planning to impose insurance fees on vessels after the US deal expires, mandating specific transit routes, and asserting permit authority.
- ·Evangelos Marinakis(Greek shipping magnate)Supports paying transit fees to Iran to avoid higher war risk premiums.
- ·Oman(Coastal state sharing the Strait of Hormuz)Hints at openness to charging fees under UNCLOS for safety and environmental services, while under US pressure not to cooperate.
- ·United States(Counterparty to the 60-day ceasefire agreement)Opposes any tolling in the strait, threatens Oman over potential cooperation, and maintains sanctions on PGSA.
Why It Matters
The Strait of Hormuz is a critical energy chokepoint. Iran’s attempt to institutionalise transit fees threatens to replace military escalation with a legal-economic pressure tool, potentially reshaping norms for international shipping in strategic waterways and testing UNCLOS interpretations. The move could strain US-Iran relations and Gulf security, especially if Oman cooperates, and it exposes divisions within the global shipping industry.
Watch For
Expiration of the 60-day Islamabad Memorandum of Understanding; PGSA’s formal announcement of fee structures and enforcement mechanisms; Oman’s final decision on participating in a tolling regime; US diplomatic and military responses, including possible sanctions or maritime posture adjustments; shipping industry compliance and potential legal challenges at the International Tribunal for the Law of the Sea.
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