PiCK
Iran: 'Only non-hostile vessels will be allowed to transit the Strait of Hormuz'
Summary
- Iran said it will allow passage through the Strait of Hormuz only for non-hostile vessels that have been pre-coordinated.
- It said the Strait of Hormuz, through which about 20% of global crude oil volumes pass, has been effectively blockaded, leaving about 3,200 vessels stranded in Gulf waters.
- It said the blockade is seen as intended to trigger a global energy shock and weaken the United States’ and Israel’s resolve to wage war.
Forecast Trend Report by Period



Iran said it will allow passage through the Strait of Hormuz only for “non-hostile vessels” that have been pre-coordinated with the country.
According to the UK daily Financial Times (FT) on the 24th (local time), Iran’s Foreign Ministry sent a letter to member states of the International Maritime Organization (IMO), writing that it had taken “proportionate measures” to prevent “aggressors and their supporters from exploiting the Strait of Hormuz to carry out hostile operations against Iran.”
Iran specified that vessels linked to the United States and Israel, as well as “vessels of other participating countries involved in the aggression, do not qualify for non-hostile passage.” In effect, it made clear its intention to maintain control over the Strait of Hormuz.
The Strait of Hormuz—through which roughly 20% of global crude oil volumes and major cargoes from Gulf countries pass—has been effectively blockaded by Iran since the outbreak of war on the 28th of last month. About 3,200 vessels are currently stranded in Gulf waters.
Since the war began, more than 22 vessels attempting to transit the Strait of Hormuz have also come under Iranian attack. The move is seen as aimed at triggering a global energy shock through the blockade and weakening the United States’ and Israel’s resolve to wage war.
The IMO, a UN agency, is discussing the establishment of a humanitarian corridor to help vessels exit Gulf waters.
Oh Se-seong, Hankyung.com reporter sesung@hankyung.com

Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.



!["Ceasefire talks uncertainty" drags major indexes lower across the board…Salesforce -6% [New York market briefing]](https://media.bloomingbit.io/PROD/news/1e37bd57-3497-4dba-b81c-8a6b451f92cc.webp?w=250)

