Iranian Foreign Minister Abbas Araghchi recently assured in an interview with MS NOW that the Strait of Hormuz remains open to international shipping activities, except for ships related to the US and Israel.
He stressed that despite the decrease in traffic due to security concerns, this factor has nothing to do with Iran’s actions as currently many tankers are still using the route without any disruption.
However, this statement was followed by a strong reaction from US President Donald Trump. Through a post on Truth Social, Trump described Iran’s move as a form of threat to the stability of global trade.
As a proactive measure, the United States along with affected international allies plan to deploy warships to the region to ensure that the navigation route in the Strait of Hormuz remains open and safe from any attempts to close it.
This situation has put the world energy market on alert as the Strait of Hormuz is a major artery for global crude oil supplies.
The increased military presence in the area not only increases the risk of physical confrontation, but is also expected to have a direct impact on the increase in shipping insurance premiums and fluctuations in oil prices in the international market in the near future.
