The US struck Iran early Tuesday morning, hours after US President Donald Trump announced that the country will in the Strait of Hormuz.
The announcement comes in the wake of renewed strikes on tankers in the Strait. Trump announced that he was reinstating the blockade of Iranian shipping in the Persian Gulf and that he would ensure that the strategic waterway of the remains open, albeit for a fee.
Oil prices rose 2% on Tuesday to their highest in four weeks, as the US reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows.
Quick answers to key questions
What prompted the US to reinstate the naval blockade on Iran?⌵
The US reinstated the naval blockade after recent attacks by Iran’s Islamic Revolutionary Guard Corps on vessels transiting the Strait of Hormuz, prompting military strikes against Iran by the US.
How does the reinstated US blockade affect oil prices?⌵
The reinstated blockade has caused oil prices to rise, with Brent crude futures increasing significantly due to the heightened tensions and uncertainty over energy flows in the Strait of Hormuz.
What measures is the US taking to enforce its blockade against Iranian shipping?⌵
The US Central Command (CENTCOM) is enforcing restrictions on all vessels entering or leaving Iranian ports, while continuing to support compliant commercial traffic through regional waters.
Why is Iran opposing the US blockade and cargo fees in the Strait of Hormuz?⌵
Iran opposes the US blockade and proposed cargo fees as they believe it violates international law regarding navigation rights in the Strait of Hormuz, asserting their authority over the waterway.
What are the implications of the US charging fees for passage through the Strait of Hormuz?⌵
Charging fees for passage could violate global norms on freedom of navigation, potentially escalating tensions and causing economic disruption in one of the world’s most crucial maritime chokepoints.
Brent crude futures were up $1.68, or 2%, to $84.98 per barrel by 0051 GMT, as per Reuters, while US West Texas Intermediate crude rose $1.65, or 2.1%, to $79.79 a barrel. Brent crude surged 9.6% in the previous session, its biggest daily gain since May 2020.
Oil prices are now at their highest since the two countries signed a memorandum of understanding to end the war on 17 June.
US reinstates blockade
“The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating THE IRANIAN BLOCKADE,” Trump had said earlier on Monday on Truth Social.
Trump’s move to charge a free for the passage of ships will upend hundreds of years of American policy that supported freedom of navigation across the globe.
Any attempt by a nation to charge fees would be in violation of global norms on freedom of navigation, thus further raising tensions and causing economic disruption.
“We’re protecting a very rich portion of the world,” he said. “We’re spending money. And so, what we’ve done is, we are going to be reimbursed for protection.”
Trump will on Thursday (local time) will address the United States citizens, he himself revealed on his social media platform Truth Social.
“We’re doing another very major attack tonight (on Iran). They want to make a deal. They came back. We made a deal 2 days ago… They’ve been negotiating for 47 years, but nobody’s ever hit them militarily. We’re hitting them very hard,” Trump said.
US Central Command said it began strikes at Trump’s direction just after the US president told the Hugh Hewitt Show that Iran would be hit “very hard tonight, and we’re going to hit them hard tomorrow. And there’s not a damn thing they can do about it.”
After Trump’s announcement, the United Arab Emirates Ministry of Defense said Iranian cruise missiles struck two of their oil tankers which were transiting through the southern lane of the strait in Omani territorial waters. The attacks led to the death of one crew member while injuring eight others.
Tankers hit; Indians pay the price
The United Kingdom Maritime Trade Operations agency said a tanker was hit by an unknown projectile while travelling 40 nautical miles northeast of Oman’s Qalhat and that all crew were safe.
The UAE’s Defense Ministry also said early Tuesday (local time) that Iran had attacked two tankers in the Strait of Hormuz, which resulted in the death of one mariner while wounding eight others.
while six among the eight injured were also Indians and the other two were Ukrainians, as per the Emirati Defense Ministry
Iran launched two cruise missiles at the tankers Mombasa and Al Bahiyah, the Emirati Defense Ministry said.
“The UAE reserves its full right to respond to this escalation and to take all necessary measures to protect its territory, its citizens and residents,” the Defense Ministry added.
Bahrain also came under renewed attack early Tuesday morning as Iran retaliated over the latest round of U.S. airstrikes. Bahrain sounded its missile alert siren, urging the public to seek shelter. There was no word on any damage or casualties from the attack.
With agency inputs
