Iran has announced a new initiative aimed at strengthening control over the Strait of Hormuz, one of the world’s most critical oil shipping routes. Authorities introduced the Hormuz Safe insurance platform, a system that could significantly expand Tehran’s influence over maritime transit in the region.
According to Iranian state media, the platform developed by the Ministry of Economy will issue digital marine insurance policies and financial responsibility certificates for vessels transiting the strait. The system relies on cryptographic verification and processes payments in bitcoin.
At the initial stage, the scheme will cover risks such as inspection, detention, and vessel seizure, while damages caused by military strikes or weapons will remain excluded. Iranian officials estimate the platform could eventually generate more than $10 billion in revenue for Tehran.
Alongside the launch of Hormuz Safe, Iran is also increasing its administrative control over the strait. The naval forces of the Islamic Revolutionary Guard Corps (IRGC) announced that all vessels must now submit mandatory cargo declarations to the newly established Gulf Strait Affairs Authority before receiving transit approval.
Shipping companies are required to disclose the cargo type, origin, destination, operator identity, and full voyage details. For tankers transporting oil from Saudi Arabia, the UAE, Kuwait, or Iraq, this means providing commercially sensitive strategic information directly to Iranian authorities.
Under international maritime law, the Strait of Hormuz is recognized as an international transit passage where ships have the right of free navigation. However, Iran is not a party to the UN Convention on the Law of the Sea. More than 100 countries have reportedly criticized the new framework as incompatible with international maritime law, though no naval force has yet physically challenged the declaration requirements.
Meanwhile, tensions in the region continue to rise. Maritime intelligence company Windward reported heightened activity linked to the IRGC, including the presence of fast attack boats, patrol vessels, dhows, and coastal craft operating in and around the strait.
According to analysts, the Strait of Hormuz is increasingly functioning not as a normal shipping corridor, but as a highly monitored and controlled maritime zone shaped by military presence, surveillance, and enforcement operations.
