Global Energy Route Paralyzed as Iran Sets Conditions for Strait of Hormuz Passage
Image Source: Internet
The Strait of Hormuz remains largely closed, with Iran insisting that the waterway is open to international shipping, except for vessels linked to what it calls 'Iran's enemies.'
Tensions have heightened after US President Donald Trump warned of possible strikes on Iranian power infrastructure if the strait is not 'fully open' within 48 hours.
Tehran is willing to work with international bodies to maintain maritime safety, but stressed that access through the strait is conditional, with ships not linked to 'Iran's enemies' able to pass, provided they coordinate security and safety arrangements with Tehran.
Transit activity through the Strait of Hormuz has slowed to near standstill, with data from MarineTraffic showing that the ongoing tensions and threat of attacks have discouraged many vessels from transiting the route.
The Strait of Hormuz carries about a fifth of the world's oil and liquefied natural gas supplies, raising concerns about a possible global energy shock.
Japan has signalled it could play a role in securing the waterway with its foreign minister Toshimitsu Motegi saying that Tokyo may consider deploying its military for minesweeping in the strait, but only if a ceasefire is in place.
