Iran's government has tightened its grip on the Strait of Hormuz, a critical waterway that connects the Persian Gulf to the Gulf of Oman. In a move that has significant implications for global shipping, the Iranian government agency responsible for maritime affairs has announced that all vessels passing through the strait must now carry a Tehran-approved insurance policy. This new requirement is set to take effect immediately, raising concerns among international shipping companies and traders who rely on the strait as a key route for oil and other cargo. The move is likely to exacerbate tensions between Iran and the West, which have been heightened in recent years over issues such as nuclear proliferation and regional security.
Vessels must hold Tehran-approved insurance policy to use vital waterway, says government agency
