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The Trump administration is considering ways to coax oil tankers into resuming transit through the Strait of Hormuz, Politico reported on Tuesday, citing three sources familiar with the situation.
Over the weekend, President Donald Trump, Vice President JD Vance, and Iranian negotiators agreed on a memorandum of understanding as a prelude to potentially ending the war. A leaked version of the memo contains 14 provisions, which include Iran reopening the Strait, the end of the U.S. naval blockade on Iran, and at least $300 billion in financing “for the rehabilitation and economic development of the Islamic Republic of Iran.”
But convincing ship operators to brave the strait could slacken the grand reopening, as insurance companies are currently not covering any losses sustained there.
“The discussions so far have centered on ways to convince insurance companies to offer coverage to travel through a narrow waterway in which Iran has successfully attacked vessels,” Politico reported of the internal discussions being pushed by Trump and White House Chief of Staff Susie Wiles.
“The President and Susie are giving them explicit orders to figure something out,” said one person familiar with the discussions who was granted anonymity to describe private discussions. “With limited exceptions, every transit [through Hormuz] is violating insurance plans. So what can be done to accelerate the insurers to start insuring again?”
One of the options under consideration is a system of fee-based U.S. naval escorts.
“There is some talk of some expedited escorted passage by paying the U.S. — like putting a VIP pass on your ship,” one person familiar with the discussions told Politico. “The concept is that there could be a fee for expedited clearance, maybe with military escort.”
One former administration official told Politico the tanker fee discussion is a negotiating tactic while Trump is in France for the G7 summit.
The person said the idea is “all about creating the space for France, Britain, others to move into the Gulf, take responsibility for maritime safety, security, and create an additional deterrence to the Iranians for trying to go back on the deal, use Hormuz as this long-term extortion racket.”
The post Trump Administration Mulls Charging Fees for Naval Escort Through Hormuz: Report first appeared on Mediaite.
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