Iran closes Hormuz and pulls oil risk back to centre stage
Continues from last evening.
Iran’s Revolutionary Guard declared the Strait of Hormuz closed after its forces confronted the Cyprus-flagged GFS Galaxy, which US Central Command said suffered a fire, engine-room damage and a missing civilian crew member. Tehran said the vessel had endangered maritime security by using an unauthorised route, while Washington said Iran attacked a merchant ship and then ordered another round of strikes, the third this week, at the direction of President Donald Trump.
“Due to the security breach caused by the illegal intervention of foreign powers, the Strait of Hormuz is closed until further notice and until US interventions in the region cease.”
The military clash landed on top of a political one. Mojtaba Khamenei, who has not appeared in public since becoming Iran’s supreme leader, issued a written vow to avenge the killing of his father, Ali Khamenei, and said retaliation would not depend on whether he or other officials survived. The United States accused Iran of plotting against Donald Trump and reimposed oil sanctions that Tehran called a breach of the truce.
- Through Hormuz20
- Other global oil flows80
Roughly a fifth of global oil flows through Hormuz, so even a short closure threatens prices, shipping insurance and Gulf diplomacy. This is no longer just another exchange in a fraying ceasefire; it is a test of whether the world’s most important energy chokepoint can stay open when both sides profit politically from sounding uncompromising.
Reporting from: Reuters, The Irish Times, The Independent, Irish Independent, The Economist, The Wall Street Journal