In a major escalation near the Strait of Hormuz, Iran has reportedly seized two vessels, one of them bound for Gujarat, raising concerns over global shipping and energy security.
New Delhi: In a significant global development possibly impacting India-Iran relations and India’s energy needs, two ships which were attempting to cross the Strait of Hormuz have reportedly been seized by Iran’s Islamic Revolutionary Guard Corps (IRGC) near the global energy chokepoint. Identified as MSC-FRANCESCA and EPAMINONDAS, the ships were reportedly taken to Iran by the revolutionary guards. For the Indian context, readers can note that the vessel, EPAMINONDAS was headed to Gujarat from Jebel Ali in Dubai. Here are all the details you need to know about the development near the Strait of Hormuz and what IRGC has said on the action of the two ships.
What Islamic Revolutionary Guard Corps naval force said on seize of two ships?
“The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement, AFP reported.
“The two offending ships… were seized by the IRGC’s naval forces and directed to the Iranian coast.”
“Disruption of order and safety in the Strait of Hormuz is our red line,” the statement of the Islamic Revolutionary Guard Corps naval force read.
Rising concern for Indian-bound cargo traffic near Strait of Hormuz
Confirming the development, Iranian state television stated that both vessels were detained for breaching maritime regulations. More importantly, the development raises serious concerns for Indian-bound cargo traffic passing through the region, particularly via sensitive maritime corridors.
Crude oil prices near $100 again as Strait of Hormuz remains constrained
In a related development, global crude oil prices edged higher to nearly $100 a barrel on Wednesday as traders and investors analysed the outlook for US-Iran peace talks following US President Donald Trump’s announcement to extend a fragile ceasefire, even as the Strait of Hormuz remained constrained.
As per the recent update, International benchmark Brent crude futures traded at $99.29 per barrel, up 0.82 per cent, while US West Texas Intermediate (WTI) rose 1.15 per cent to $90.71. Both benchmark contracts had gained around 3 per cent in the previous session.
On the Multi Commodity Exchange (MCX), crude oil declined from previous close levels, hitting an intraday low of Rs 8,382, down 0.65 per cent or Rs 55 as of around 10:30 AM.
(With inputs from agencies)