Bloomberg Surveillance · Friday, July 31, 2026
Ellen Wald advised that insurers should not provide coverage for ships transiting the Strait of Hormuz as long as Iran's current leadership is in power, calling it a 'massive risk.' She described the situation as a status quo of attrition, with neither Iran nor the US likely to cede their positions without significant shifts.
“If I were an insurer whose job it is to ensure these tankers, I think my base case today has to be as long as this leadership is still in position of power in Iran, straight will never be open.”
“That's what I would advise. You know, if I was an insurer, I would not be ensuring these ships. I think you're taking an absolutely massive risk if you are going to you know, provide insurance for a ship that's that's transitting. I really think right now we are at basically kind of a status quo, kind of stands still in pass.”
“Iran is not going to give up any way to control this straight unless something really really shifts internally or with their firepower ability, They're not going to give it up. And the United States seems like it's not going to give up its position either. So either we have to just dig in here for the long haul until something changes economically on either side, or we have to you know, change something militarily. But otherwise we're kind of we're kind of stuck. This is going to become a situation of attrition, and the world may have to adjust to this new normal.”