Tehran has blacklisted forty-five oil tankers for violating Iran’s prescribed rules in the Strait of Hormuz. At the same time, action has been taken against these vessels, including fines, detentions or seizures.
On Monday (August 24th), Al Jazeera reported that Iran has warned against non-imposed measures against Iran’s scheduled management or non-compliance of ships in the course of the Strait of Hormuz.
According to Iran’s warnings, action could be taken against the ships if they try to cross the strain in the future. Similarly, if any other ship with the listed ship is involved in the transfer of goods or oil, the concerned ship can also come under the measure.
However, the Iranian announcement did not give details about the names, flags or nationalities of the forty-five tankers, flags or nationalities and what rules they violated.
New measures amid tensions between Iran and the United States
Iran’s announcement comes at a time when the United States is preparing tougher economic sanctions against Tehran. U.S. Treasury Secretary Scott Bestant has indicated Washington’s tougher actions to put pressure on Iran’s economic activities.
On the other hand, Iran has threatened to take action such as fines, detention or seizure of ships operating through the Strait of Hormuz. As a result, tensions between the United States and Iran may escalate around one of the world’s most important energy transport routes.
Uncertainty in the oil market
The Strait of Hormuz is one of the most important seaways of international energy trade. A large amount of fuel from the Middle East’s oil and gas-producing countries go through this waterway to the global market.
As a result, new restrictions on shipping, detention or obstruction of oil transport can put pressure on international supply systems and transportation costs. The impact is ultimately expected to fall on global oil prices.
The international energy market is monitoring how strict the implementation of Iran’s new decision will be strict and what kind of action will be taken against the listed tankers.