The Iran’s Islamic Revolutionary Guard Corps (IRGC) has said thatthe Strait of Hormuzwas exclusively closed for the United States, Israel, Europe, and their Western Allies. The development has come after Iran announced theclosure of the Hormuz, a key passage for oil and gas tankers, in the wake of the US and Israel joint attack on its territory. The strikes, which first took place on Saturday, February 28, killed Iran’s Supreme Leader Ayatollah Ali Khamenei.
Announcing the closure of the Strait of Hormuz, Iran’s Revolutionary Guards informed that it took action in line with international law and relevant resolutions, adding that they reserves the right to regulate passage through the Hormuz during wartime.
In a statement, the Revolutionary Guards had said, "We had previously said that, based on international laws and resolutions, in times of war, the Islamic Republic of Iran will have the right to control the passage through the Strait of Hormuz."
So far there is no clarity whether Indian tankers or assets can use the Strait of Hormuz for passage or logistics as Iran is involved in a war with US and Israel. Also, even though IRGC has said that it is closed exclusively for US, Israel and their western allies including Europe, there are doubts whether India can use it or not.
Earlier on Wednesday, Iran allowed Chinese ships to pass through the Strait of Hormuz, however, Tehran specifically mentioned that except for the Chinese ship, the warning remains as it is for other countries and any unauthorised passage or ship movement will be dealt militarily.
The Strait of Hormuz through history has been important for trade, with ceramics, ivory, silk, and textiles moving from China through the region. In the modern era, it is the route for supertankers carrying oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE, and Iran. The vast majority of it goes to markets in Asia, including Iran's only remaining oil customer, China.
While there are pipelines in Saudi Arabia and the UAE that can avoid the passage, the U.S. Energy Information Administration says “most volumes that transit the strait have no alternative means of exiting the region.”
Threats to the route have spiked global energy prices in the past, including during the Israel-Iran war in June.
Shashwat Bhandari is the Associate Editor at Times Now. With 14 years of experience in the news and media industry, he understands the responsibility...View More
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