As high-stakes negotiations to end the Iran war continue in Switzerland, the maritime industry’s message to the White House is clear: Don’t allow Iran to formalize its tolling racket over the Strait of Hormuz.
Iran wants all commercial shipping vessels to register with a newly formed Iranian agency in order to pass through the narrow entry to the oil-rich Persian Gulf — but Western insurance underwriters are refusing to comply, slamming the mandate as a sanctions trap, The Post has learned.
Senior sources say unless US negotiators force Iran to completely dismantle its unilateral insurance mandates and fully clear international waters of underwater mines, trade in the region will never truly recover.
Maybe that’s the point, reducing dependence on Persian Gulf oil flows. The Arab Gulf states are already planning accordingly: Gulf States Fast-Track Pipeline Projects to Bypass Volatile Strait of Hormuz.