Iran is taking control of shipping traffic through the Strait of Hormuz
Iran has announced new rules governing the passage of ships through the Strait of Hormuz, one of the world’s key oil supply routes. Commercial vessels will now be allowed to transit only with permission from the Islamic Revolutionary Guard Corps Navy. Military vessels, according to a spokesperson, will not be permitted to pass at all, reports The Times of Israel.
Commercial vessels will be able to pass through the Strait of Hormuz only along a predetermined route and only after receiving permission from the Islamic Revolutionary Guard Corps Navy. This was reported by Iranian state television, citing a high-ranking military official.
In effect, this amounts to a significant tightening of control over one of the world’s most vital sea lanes. “Commercial vessels may pass through the Strait of Hormuz along a designated route only with permission from the Islamic Revolutionary Guard Corps Navy,” the Iranian military official stated.
At the same time, he clarified that access through the strait will be completely closed to military vessels. “Military vessels will not be allowed to pass through the strait,” he added.
The Strait of Hormuz is of strategic importance, as a significant portion of the world’s oil and energy supplies passes through it. Any restrictions in this region immediately affect global markets and energy prices.
Iran’s new rules could further exacerbate the situation regarding shipping in the region, which already remains one of the most tense in the world.
U.S. stock markets opened higher following a sharp drop in oil prices. Investors reacted positively to the news that Iran had reopened the Strait of Hormuz.
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