[Regnum] More than 600 large commercial vessels are stuck in the Strait of Hormuz due to the conflict in the Middle East. This was reported by The Times on April 26.
The authors noted that Iran is sending vessels with transit permits through its territorial waters near Larak Island, separating the flows—ships flying the flags of countries loyal to the United States and Israel go separately, and the rest go separately.
"Dividing trade along geopolitical lines and saying that some ships can pass through these waters and others cannot sets a very dangerous precedent for freedom of navigation and therefore for world trade," said Richard Meade, editor-in-chief of maritime publication Lloyd's List.
The article states that the US blockade of Iranian ships and ports threatens the country's oil revenues, which account for approximately half of its budget. Furthermore, the authors point out, Iran charges tolls for passage through the strait—between $200,000 and $2 million in cryptocurrency or Chinese yuan for safe transit, which replenishes its coffers.
Iran announced a blockade of the Strait of Hormuz shortly after the US and Israel attacked the Islamic Republic in late February. The blockade disrupted energy and other supplies from the Persian Gulf states. The strait previously handled approximately 20% of global oil supplies and approximately 30% of liquefied natural gas shipments.
After the US concluded a two-week ceasefire with Iran on April 8, the Iranian government temporarily opened the strait to commercial shipping. On April 12, following the collapse of negotiations, US President Donald Trump announced a naval blockade of Iranian ports. The Iranian Foreign Ministry threatened to close the strait if the US did not end the blockade. Trump responded that the US had no intention of backing down. Iran subsequently reimposed military control of the strait.
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