Iran Says It Isn’t Bound by UN Maritime Law, Asserts Authority Over Hormuz
Summary
- Iran’s mission to the United Nations said the country is not a party to the UN Convention on the Law of the Sea and is not bound by it.
- Iran asserted authority over the Strait of Hormuz, saying it has the right to take proportionate measures to respond to security threats and protect navigation.
- Markets are focused on how the dispute over control of the strait and interpretations of international law could affect energy shipments, global supply chains, future military responses and shipping lane stability.
Forecast Trend Report by Period
Iran reaffirmed its hard-line stance on control of the Strait of Hormuz, rejecting the application of international law and underscoring continuing tensions over maritime sovereignty.
Walter Bloomberg reported on April 28 that Iran’s mission to the United Nations said Tehran is not a party to the UN Convention on the Law of the Sea, or UNCLOS, and is therefore not bound by its provisions.
Iran also asserted authority over the Strait of Hormuz, saying it has the right to take “proportionate measures” to respond to security threats and protect navigation.
It blamed the US for all disruption in the Persian Gulf and criticized Washington for threatening maritime security.
Iran added that restoring regional stability requires an end to attacks on the country and respect for its sovereignty.
Markets are focused on how the dispute over control of the strait and competing interpretations of international law could affect energy shipments and global supply chains. Any military response and the stability of shipping lanes remain key variables.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
