Throughout the 60-day window, the insurance coverage is free — no fee modifications fingers, and the sanctions publicity is arguably manageable. However after day 60, if the PGSA introduces charges because it has explicitly reserved the proper to do, a shipowner buying PGSA-approved insurance coverage could be paying a sanctioned entity. That creates a direct battle between the operational must adjust to PGSA necessities and the authorized prohibition on transacting with OFAC-designated organisations. The MOU’s “toll-free” assure doesn’t prolong to insurance coverage charges. The US place, per JD Vance on Thursday, is that “worldwide waterways needs to be freed from tolls” — not freed from insurance coverage premiums.
