LONDON, February 28. /TASS/. Insurance companies are preparing to raise premiums for tankers transporting oil through the Strait of Hormuz and the Persian Gulf amid US and Israeli strikes on Iran, the Financial Times (FT) reported, citing an unnamed insurance broker.

According to the source, all premiums will increase with the start of a military operation. The Financial Times noted that in June last year, even ahead of US strikes on Iranian nuclear facilities, the cost of insuring vessels whose routes pass through the Strait of Hormuz surged by 60%. About one-third of global seaborne oil trade passes through the strait annually.

According to the newspaper, the US strikes on Iran that began on Saturday have not halted shipping in the Persian Gulf.

The US and Israel have launched a military operation against Iran. Major Iranian cities, including Tehran, have been hit. The White House justified the attack by citing alleged missile and nuclear threats from Iran. The Islamic Revolutionary Guard Corps (IRGC, the Iranian Armed Forces’ elite unit) announced a large-scale retaliatory operation. There were reports of missiles and drones being launched from Iran. According to media, US military bases in Bahrain, Jordan, Qatar, Kuwait, the UAE, and Saudi Arabia were also targeted.