Iran's foreign ministry denied reports of reclosing the Strait of Hormuz, stating commercial vessels are passing safely. Tensions rose amid earlier closure claims and a drone attack in Israel, leading to strikes in Lebanon.
Reports suggest Iran may have reclosed the Strait of Hormuz, potentially jeopardizing a US-Iran memorandum. This follows an escalation between Israel and Hezbollah, with casualties on both sides and postponed US-Iran talks.
Iran is waiving fees for security, safety, and environmental services for ships transiting the Strait of Hormuz. This comes as the strait saw 25 commercial vessel crossings on Thursday, the highest since mid-April, following its effective closure after February 28.
Iran maintains control over the Strait of Hormuz, leading to around 160 oil tankers with 170 million barrels of crude oil being held up in the Persian Gulf. The Islamic Revolutionary Guard Corps has stated that 26 ships have passed through the strait in the last 24 hours after obtaining permission. Iran has established an ad hoc authority to manage maritime traffic, effectively normalizing tolls and maintaining transit at 26 ships per day. This strategy appears to be a tool for permanent negotiation rather than an indefinite blockade, though insurance premiums and delivery times are expected to remain high. Iran has also threatened to block the Bab al-Mandab Strait in response to escalation in Lebanon.
Amid a fragile ceasefire between the US and Iran, the IRGC has launched a maritime authority for the Strait of Hormuz. The Persian Gulf Strait Authority says ships need to email their application for passage. So, we sent them a request.
Amid a fragile ceasefire between the US and Iran, the IRGC has launched a maritime authority for the Strait of Hormuz. The Persian Gulf Strait Authority says ships need to email their application for passage. So, we sent them a request.
