Breaking
Iran Revolutionary Guards Claim ‘Absolute Control’ of Strait of Hormuz, Signal Curbs on Shipping
Summary
- Iran’s Revolutionary Guards said they had achieved absolute control over the Strait of Hormuz.
- They said ships passing through the Strait of Hormuz could face transit fees and that foreign vessels would have to comply with Iranian rules.
- Markets are assessing whether the remarks could stoke tensions in the Middle East and affect global energy supplies and the broader risk-asset market.
Iran escalated tensions by claiming tighter control over the Strait of Hormuz.
Odaily, a cryptocurrency-focused media outlet, reported on April 28 that the deputy commander of the Iranian Islamic Revolutionary Guard Corps Navy said Iran had achieved “absolute control” over the strait.
He said Iran could impose transit fees on ships passing through the waterway and that foreign vessels must comply with rules set by Tehran. Those rules could include a requirement to communicate in Persian.
He also struck a hard line on oil shipments through the strait, saying that without an order from Iran’s supreme leader and the will of the Iranian people, “not a single drop of oil” would pass through. He added that Iran’s military is on high alert and ready to respond to any maritime blockade.
Markets are assessing whether the remarks will rekindle tensions in the Middle East and ripple through global energy supplies and broader risk-asset markets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
