Tehran, June 27 -- Senior Iranian leader and former commander in Iran's Islamic Revolutionary Guard Corps (IRGC) Major General Mohsen Rezaei has called for the establishment of an "insurance mechanism" for ships transiting the Strait of Hormuz, saying vessels involved in incidents should be covered to reduce risks while arguing that the associated costs should be borne by oil transporters rather than the Iranian people.

Speaking in an interview with US-based NewsNation on Thursday, Rezaei, who also serves as a senior adviser to Iran's Supreme Leader, Mojtaba Khamenei, outlined Tehran's position on the future of the strategic waterway amid ongoing discussions over regional security.

Responding to a question on how the Iranian leadership ...