Iranian officials propose opening conditions for the Strait of Hormuz and demand compensation for war losses through ship taxes

On April 5th, Mehdi Tabatabai, Deputy Director of News and Communications Affairs at the Iranian Presidential Office, stated that the Strait of Hormuz will only reopen after a new legal system is established and past ship tax revenues are used to compensate for Iran's war losses. In addition, Oman and Iran are discussing a safety agreement to restore navigation, requiring oil and gas transport ships to register and fly the flag of non hostile countries. According to Polymarket data, the probability of resuming navigation in the Strait of Hormuz this month has decreased to 12%.