"Iran has effectively shut down the Strait of Hormuz, which normally carries about a fifth of the world's total oil consumption, in retaliation for US-Israeli strikes that began on February 28."
"Tehran offered a competing vision for future control of the strait and said it was drafting a protocol with Oman that would require ships to obtain permits and licences."
"These requirements will not mean restrictions, but rather to facilitate and ensure safe passage and provide."
"Mr Trump said operations would be intensified and gave no timeline for ending hostilities, drawing threats of retaliation from Tehran and depressing share prices."
Tehran is proposing a new protocol with Oman that would require ships to obtain permits and licenses for passage through the Strait of Hormuz. This move comes as tensions escalate following US President Trump's threats of intensified military action against Iran. The Strait is crucial for global oil shipments, and Iran's actions have already led to increased oil prices and economic concerns. A recent meeting of around 40 countries aimed to restore navigation freedom but did not yield specific agreements.
Read at Irish Independent
Unable to calculate read time
Collection
[
|
...
]