Iran’s foreign minister announced Friday that passage for all commercial ​vessels through the Strait ​of Hormuz is completely ​open following a ceasefire agreement reached in Lebanon yesterday, but President Donald Trump said the U.S. naval blockade on Iran will remain in place until a deal with Tehran is struck.

“The Strait of Hormuz is completely open and ready for business and full passage,” Trump wrote on Truth Social. “But the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with Iran is 100% complete.”

Trump said he expects the process to go “very quickly,” adding that most of the points have already been negotiated. He later said Iran with the help of the U.S., has removed or is in the process of removing all sea mines it had placed in the strait.

  • tal@lemmy.todayEnglish
    3·
    15 hours ago

    An article I was reading (on marine cable cutting, unrelated topic) mentioned a clause in marine insurance policies.

    https://www.usni.org/magazines/proceedings/2022/october/repairing-submarine-cables-wartime-necessity

    Standard marine protection and indemnity insurance policies exclude wartime coverage, stating: “In the event of war or war-like conditions between any of the following states: The United Kingdom, the United States of America, France, the Russian Federation, the People’s Republic of China, the insurance against war perils shall automatically terminate.”

    It might be that whether-or-not the US is involved determines whether shipowners or insurers are on the hook for a ship getting shot at.

    Though…reading it over, maybe it’s only if it’s specifically one of those fighting another of them.