us: Trump considering 'VIP pass' for Hormuz
Trump considering 'VIP pass' for Hormuz
The United States is considering a new initiative to normalize oil shipping through the Strait of Hormuz as part of efforts to ease tensions in the Middle East. A report by the US media outlet Politico said that discussions are underway to offer ship owners a “VIP pass” that would provide them with a US Navy security escort in exchange for money.
According to a report published on Tuesday (June 16), President Donald Trump and White House Chief of Staff Suzie Wiles have directed relevant officials to develop a plan that will make ship owners willing to take the risk of navigating through the Strait of Hormuz.
Although Trump said that this week, the Strait of Hormuz, one of the world's most important oil shipping lanes, will be "permanently toll-free" and "fully open." Meanwhile, Iran has indicated that it may charge commercial tankers for certain services through the strait.
Currently, most insurance companies consider the passage through the Strait of Hormuz to be high-risk. As a result, many ships are not insured. In this situation, discussions are underway to convince insurance companies to provide coverage in addition to special security measures for ship owners.
Two energy industry sources said the proposed system would allow shipowners to pay a fee for fast passage, including a US Navy security escort. "It would be like a VIP pass, where you get a safe and fast transit in exchange for money," one source said.
Meanwhile, a former US official said another aim of the proposal was to shift some of the security responsibility to European allies. According to him, the US should not be relied on to ensure the security of the Strait of Hormuz. Such discussions were brought forward to put pressure on European countries during the G-7 summit.
Earlier in April, Trump commented that the US, not Iran, should have the right to collect fees from ships passing through the Strait of Hormuz. He said, "I would rather let Iran collect the fees than let us collect them." In addition, the use of the US Defense Production Act (DPA) to force US insurance companies to provide insurance coverage for ships passing through the Strait of Hormuz is also being considered.
However, no decision has been made yet. Although a memorandum of understanding is expected to be signed between the United States and Iran on June 19 to resolve the conflict, many shipowners are still in a wait-and-see position, fearing possible new tensions. According to data from the commodity market analysis firm Clapper, about 500 ships are currently waiting in the Persian Gulf outside the Strait of Hormuz, including about 220 oil tankers.
On the other hand, news of progress in the US-Iran peace talks has sent crude oil prices in the international market below $80 per barrel. However, prices are still higher than before the war.
White House spokesperson Taylor Rogers claimed that the agreement signed at the initiative of Trump will keep the Strait of Hormuz fully open and energy transport will return to normal quickly. He commented on various reports published by citing sources who did not want to be named as “baseless speculation.”
