PiCK
Iran Says Passage Through Strait of Hormuz Is Currently Impossible, Citing US Actions
Summary
- Iran's Persian Gulf Strait Management Authority said the Strait of Hormuz is currently impassable because of recent hostile actions by the US military.
- The authority said all transit applications would be reviewed on schedule and permit procedures would resume once stability and calm return.
- It said concerns are rising that disruption to traffic through the Strait of Hormuz could increase volatility in international oil prices and broader global financial markets.
Forecast Trend Report by Period
Iranian authorities said passage through the Strait of Hormuz is currently impossible, citing recent US military action.
Crypto news outlet Odaily reported on July 13 that Iran's Persian Gulf Strait Management Authority said in a social media post that the Strait of Hormuz was currently impassable because of recent hostile actions by the US military.
The authority said all transit applications would be reviewed on schedule once stability and calm return. Permit procedures would also resume at that point.
It added that the authority's official website is the only channel for obtaining permission to pass through the Strait of Hormuz.
The Strait of Hormuz is a key maritime route for Middle Eastern oil shipments. If disruptions to traffic through the strait materialize, volatility in international oil prices and broader global financial markets could increase.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.