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Tehran/New York: Amidst the ongoing tension in the Middle East, Iran has made clear its new policy regarding the ‘Strait of Hormuz’, which is considered the lifeline of global oil trade. The Iranian mission based in New York has made it clear that now only those ships which are not ‘enemies’ of Iran will be able to pass through this narrow sea route. However, for this it will be mandatory for the ships to take prior permission from the Iranian authorities. On one hand, this step of Iran is raising hopes of reducing the global energy crisis, on the other hand it also shows Tehran’s strict control over maritime trade.
New rules for ‘non-enemy’ ships: permission will be necessary
On Wednesday, the Iranian mission issued an important post on social media platform X. It said that countries which are not involved in any aggressive action against Iran or are not supporting America-Israel can pass through Hormuz.
New Protocol: Ships will now have to comply with Iranian security regulations and duly coordinate with the Iranian Defense Council before passing.
Stern warning: Iran’s state broadcaster Press TV warned that if the US or Israel attacked Iran’s power plants or energy centers again, the response would be ‘devastating’.
Strait of Hormuz: Why is it a ‘choke point’ for the world?
The Strait of Hormuz is a narrow sea passage between Oman and Iran that connects the Persian Gulf to the Arabian Sea. Its importance can be gauged from this:
Lifeline of Oil: About one-third of the world’s total oil exports pass through this route. It is so deep that even the world’s largest oil tankers can pass through here.
energy crisis: Dozens of ships have been stranded here since the war began on February 28, sending crude oil above $115 a barrel.
Global relief: Experts believe that if Iran guarantees the safety of ships, oil prices in the international market may fall and the global supply chain can get back on track.
Trump’s big claim: “Iran’s navy and air force destroyed”
On one hand, Iran is talking about opening the way with conditions, while on the other hand, US President Donald Trump has announced his ‘victory’. At the swearing-in ceremony of the Secretary of Homeland Security, Trump claimed that America had won this war.
Trump’s statement: “Iran has nothing left. Their navy is gone, their air force is destroyed and their communications lines have also been destroyed. Now they want to make a deal and they have no other choice.”
This statement of the Trump administration is contrary to Iran’s claim in which Tehran is describing itself in a strong position.
What will happen next? Market eyes Hormuz
After this decision of Iran, now the eyes of shipping companies around the world are on which countries Tehran keeps in the category of ‘non-enemy’. If oil tankers of countries like India and China get protection, then Asian economies will get big relief. However, the next few days are going to be very tense between Trump’s aggressive statements and Iran’s strict conditions.