Iran: "Passage through Hormuz allowed for vessels from 'non-hostile countries'"
Summary
- It was reported that Iran said it would allow passage through the Strait of Hormuz only for non-hostile vessels.
- It was reported that the blockade of the Strait of Hormuz, through which about 20% of global crude oil shipments pass, has left about 3,200 vessels stuck, and that some vessels paid up to $2 million.
- South Korea said there is scope for negotiations with Iran and that it will maintain ongoing communication to ensure the safety of South Korean vessels.
Forecast Trend Report by Period
Thailand, Taiwan pass through…South Korea also seeks talks
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Iran said in a letter to member states of the International Maritime Organization (IMO) that it would allow passage through the Strait of Hormuz only for “non-hostile vessels” that have undergone prior coordination with Iran.
According to the Financial Times (FT) on the 24th (local time), Iran’s Foreign Ministry said in the letter to IMO member states that it had taken “proportionate measures to prevent aggressors and their supporters from abusing the Strait of Hormuz to carry out hostile operations targeting Iran.” Iran stressed in the letter that vessels linked to the United States and Israel, as well as “vessels of other participating countries involved in the aggression,” are not eligible for non-hostile passage. Analysts say the letter shows Iran has no intention of relinquishing control of the Strait of Hormuz despite strong warnings from U.S. President Donald Trump.
The Strait of Hormuz, through which about 20% of global crude oil shipments and major Gulf cargoes pass, has been effectively blockaded by Iran since the war broke out on the 28th of last month. Some 3,200 vessels are currently stuck in the Gulf waters. At least 22 vessels are known to have been attacked by Iran since the outbreak of the war. Vessel-tracking data show Iran is allowing only a small number of ships to pass via specific routes in its territorial waters. Experts say Iranian authorities appear to have authorized passage only after thoroughly vetting vessels. Chinese and Indian vessels have transited the strait since the war, and more recently a Thai vessel is also reported to have passed through. With one Taiwanese vessel waiting to transit, the nationalities of ships passing through the strait are becoming more diverse.
South Korea is also expected to be able to negotiate with Iran. President Trump has asked some U.S. allies, including South Korea, to provide naval support, but they have not complied. Foreign Minister Cho Hyun spoke by phone on the 23rd with Iranian Foreign Minister Abbas Araghchi and requested the safety of South Korean vessels in the Strait of Hormuz. The Foreign Ministry said, “Both sides agreed to continue communicating on related issues.”
Some vessels paid Iran up to $2 million (about 3 billion won) in exchange for safety guarantees, FT reported.
Reporter Kim Joo-wan kjwan@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.
