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Iran requires insurance on ships using Strait of Hormuz, fees likely to follow

100 points by decimalenough

by Toluhis

2 subcomments

So there are tolls after all and they’re going to make Iran money.

by walrus01

2 subcomments

Are we all tired of so much winning yet?

by comrade1234

5 subcomments

Something that I found interesting was how far away the USA had to keep its navy. What's the pint of having 11 aircraft carrier groups when you can barely even use them?

by Zigurd

0 subcomment

To the victor belong the insurance policy commissions

by ggm

6 subcomments

The low bar path out for Iran is not to charge US ships insurance. The people most likely to complain would not complain if America has an exception.

by BashiBazouk

3 subcomments

Why would they not just build a pipeline from Kuwait to Oman or even UAE to the other side of Oman? If the Keystone pipeline is profitable, so would this I would think. Seems like a temporary problem or a fine line for Iran to charge fees low enough the effort would not be worth it...

by jmyeet

2 subcomments

If this was obvious to some random guy like me at least two months ago [1][2] without access to intelligence community information and military assessments then this should surprise absolutely no one in the administration. I said then and have been vindicated (IMHO): this will go down as the largest strategic blunder in US history. It's also going to reshape the region away from US influence because of the hollowness of US security guarantees. The GCC are going to have to deal with Iran as a fellow oil-producing nation. A big loser here is the UAE and I'm not sure that Dubai ever recovers.
Before all of this, Iran closing the Strait of Hormuz was a theory that was never tested. Traffic passed freely. But a war was forced upon them by the US and Israel so if any of these countries (or anyone else for that matter) is unhappy at the outcome, you know where to point the finger.
One irony in all this is that the UN Convention on the Law of the Sea would guarantee free transit passage through territorial waters like the Strait of Hormuz. Iran isn't a signatory. The ironic part is that the United States isn't either.
[1]: https://news.ycombinator.com/item?id=47944212
[2]: https://news.ycombinator.com/item?id=47937691

by fuzzfactor

0 subcomment

Al Capone couldn't have come up with a more "attractive" insurance plan himself.

by freitasm

0 subcomment

So much winning.

by lokar

1 subcomments

Look at the doc (from Iran), the things covered by the “insurance” have only ever happened (in the straight) due to Iran.

by classified

0 subcomment

Did Iran just rediscover the protection racket?

by bjourne

1 subcomments

https://news.ycombinator.com/item?id=47200879
I wonder what happened to the Iranian buddies? So many HN accounts whose Iranian friends were all supposedly celebrating the US-Israeli bombings of their country of origin. Are they still cheering?

by zaptheimpaler

0 subcomment

LMAO they're learning how to do legally defensible racketeering the way US insurance companies do, very smart.

by gafferongames

1 subcomments

ART OF THE DEAL

by jimbob45

1 subcomments

Were straits not doing insurance at all before? Would have thought that all straits were charging for it after the Ever Given disaster. The strategy can’t permanently be “wait for the EU or US to fix it in a week as worldwide markets crash”.

by ameon

0 subcomment

[dead]

by 2OEH8eoCRo0

8 subcomments

Incredible that Iran is victorious (so far).
War is one way of forcing political will on another. The US military executed nearly flawlessly yet US leadership doesn't want to pay the cost of defeating Iran by force.
Why even have this military if anything that affects the market makes the US cower in fear?