Iran’s Insurance Gambit Could Choke Global Oil Trade and Spike Costs

Tehran, Tuesday, 23 June 2026.
Iran is pushing to control shipping insurance in the Strait of Hormuz, a move that could disrupt 20% of the world’s oil supply and send global shipping costs soaring. By demanding vessels carry Iranian-approved coverage, Tehran risks triggering a full-blown trade crisis—unless Western powers act fast. The stakes? A potential economic weaponization of the world’s most critical energy chokepoint.