Iran seeks "insurance mechanism" to reduce risks for ships transiting through Hormuz
Published on: June 27, 2026, 2:43 p.m. | Source: The Tribune
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.
