Svmuu News: British media reports reveal that Iran’s Persian Gulf Straits Authority has issued a document requiring all vessels to hold insurance approved by the agency in order to pass through the Strait of Hormuz. This insurance is free of charge for the duration specified in the U.S.-Iran Memorandum of Understanding, but fees may be charged thereafter. According to the UK’s *Financial Times*, the document has been circulated among shipping industry executives. It states, “All vessels must hold a valid insurance policy approved by the Persian Gulf Strait Authority.” At this stage, the insurance is “free of charge,” but the Authority “reserves the right to charge premiums in the future.” (Xinhua News Agency)