Iran Just Rewrote the Rules of the Strait
Tehran's new insurance mandate for Hormuz transit is not a logistical formality. It is a legal claim dressed in administrative language, and the 60-day ceasefire window the US negotiated does nothing to contain it.
The United States-Iran interim peace deal said transit through the Strait of Hormuz would be free. Iran heard something different.
On June 19, 2026, while American diplomats were still describing the memorandum of understanding as a framework for normalizing traffic through the world's most consequential chokepoint, Iran's Persian Gulf Strait Authority published a document on its website that tells a different story entirely. Ships crossing the Strait of Hormuz must now obtain a passage permit from the PGSA. They must follow Iran's prescribed route. And they must carry a mandatory insurance policy issued under Iranian authority, one that is currently free of charge but that Tehran has reserved the explicit right to price in the future.