"Sultan Al Jaber, head of the Abu Dhabi National Oil Company, stated, 'This moment requires clarity. So let's be clear: the Strait of Hormuz is not open.' He emphasized that access is restricted and conditioned by Iran's political leverage."
"A U.S. official remarked that while the strait is 'wide open,' ships are not moving through due to intimidation from Iran, which has threatened and coerced maritime operators."
"Iran is demanding a toll of $1 per barrel of oil for ships passing through the strait, to be paid in cryptocurrency, which could keep global energy prices elevated indefinitely."
The Strait of Hormuz is currently not open for unrestricted passage, as Iran has imposed conditions and restrictions on maritime transit. Hundreds of tankers are waiting to cross, with nearly 20,000 mariners stranded in the Persian Gulf. U.S. officials acknowledge the strait is technically open but admit that intimidation from Iran is preventing ships from moving. Iran is also demanding tolls for passage, which could elevate global energy prices and violate international navigation norms.
Read at Axios
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