Tensions are rising again over the Strait of Hormuz, a vital waterway in the Middle East. The conflict between Iran and America has made the movement of oil tankers uncertain. Many ships are already making U-turns midway, which could put new pressure on the global economy.
Accusations of breach of promise against America
Iran has directly accused the US of not keeping its promises. Iran claims that the US naval blockade of its ports is still in place, forcing Tehran to take this drastic decision.
Strait of Hormuz under strict control
Iran’s military says the Strait of Hormuz is now fully under its “firm control”. Only authorized vessels will be allowed to use this route and may be required to pay tolls.
An oil tanker is moving in the middle
According to sources, several tankers carrying around 83 lakh barrels of oil are turning back midway due to security and permit uncertainty. This has created the fear of a big shock in the international oil supply system.
Trump’s stance is tougher
US President Donald Trump has said that the naval blockade will not be lifted until a comprehensive agreement is reached with Iran. As a result, the tension between the two countries is increasing.
20% of the world’s oil lifeline
About 20% of the world’s oil and gas is transported through the Strait of Hormuz. If this route is closed or restricted, it will directly affect the international market, especially the price of fuel.
Iran’s counter-warning
Iran has made it clear that it may close the waterway again if the US blockade continues. Global trade and energy supply may fall into a bigger crisis.
Renewed unrest around the Strait of Hormuz. Several oil tankers are moving in the middle of Iran’s strict control decision. It is feared that there will be a big impact on the world oil supply.
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