Iran seeks “insurance mechanism” to reduce risks for ships transiting through Hormuz

Tehran : Senior Iranian leader and former commander in Iran’s Islamic Revolutionary Guard Corps (IRGC) Major General Mohsen Rezaei has called for the establishment of an “insurance mechanism” for ships transiting the Strait of Hormuz, saying vessels involved in incidents should be covered to reduce risks while arguing that the associated costs should be borne by oil transporters rather than the Iranian people.
Speaking in an interview with US-based NewsNation on Thursday, Rezaei, who also serves as a senior adviser to Iran’s Supreme Leader, Mojtaba Khamenei, outlined Tehran’s position on the future of the strategic waterway amid ongoing discussions over regional security.
Responding to a question on how the Iranian leadership views the future of the Strait of Hormuz as negotiations progress with the US, Rezaei said there were ongoing discussions over fees and service costs related to the passage.
“Regarding fees, there is a cost to mention in this matter. There is a tolls discussion and a fees discussion. There is a discussion about service costs in the Strait of Hormuz,” he said.
Rezaei said Iran wants to ensure security and environmental protection in the strategic maritime corridor while proposing an insurance framework for commercial vessels.
“Yes, we want to maintain the security of the Strait of Hormuz. We want to protect the environment of the Strait of Hormuz. We must establish an insurance mechanism so that ships involved in incidents or encountering problems are covered to reduce their risk,” he added.
He further stated that the financial burden of such measures should not fall on Iran.
“When we provide all of this, these costs cannot come out of the pockets of the Iranian people. These costs must be collected from those who are transporting oil through the Strait of Hormuz,” Rezaei said.
The issue of levying fees on vessels transiting the Strait of Hormuz has emerged as a key point of contention between Tehran and Washington as part of their talks.
Iran has argued that ships using the strategic waterway should contribute towards security and related services, while the United States has repeatedly rejected any proposal for tolls or maritime transit fees, maintaining freedom of navigation through the international shipping lane.
US President Donald Trump has reportedly slammed the idea by Tehran, saying that it would be “unacceptable” to him if the Iran deal included any kind of fees on shipping or maritime activities in the Strait of Hormuz.
Trump, while talking to reporters during his meeting with the NATO Secretary General, Mark Rutte, on Wednesday, said, “It would be unacceptable to me because we have numerous straits that, if you did that for them, you’d have to do for other people. You have other straits; well, I wouldn’t allow it there either. Yeah, it would be a game changer.”
Trump earlier also claimed that Tehran has given formal assurances to Washington on not imposing transit charges on vessels navigating the vital Strait.
The Strait of Hormuz, a global maritime chokepoint that facilitates nearly 20 per cent of the world’s seaborne oil trade, has been a source of volatility following reports of potential Iranian regulation of traffic.
Seeking to calm industry fears, Trump took to Truth Social to relay the commitment from Tehran.
“Iran has informed us that there will be ‘NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND’ on commercial shipping,” the post read.
He underscored the gravity of the pledge with a clear diplomatic ultimatum: “If this is false information, negotiations would end, immediately!”