Iran plans to charge insurance fees to vessels in Hormuz after US deal expires

Iran plans to charge insurance fees to vessels in Hormuz after US deal expires Submitted by MEE staff on Fri, 06/19/2026 - 17:19 Iran lays the groundwork for a new transit system in critical waterway, but will need Oman's buy-in to shore up legal defence Cargo ships are pictured off the coast of the Khor Fakkan container terminal, the only natural deep-sea port in the region and one of the major container ports in the emirate of Sharjah, along the Gulf of Oman, on 19 June 2026 (AFP) Off 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.