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Iran Warns of ‘Overwhelming Response’ if US Intervenes in Strait of Hormuz

Source
Korea Economic Daily

Summary

  • Fighting between the US and Iran has resumed, heightening tensions in the Strait of Hormuz and deepening uncertainty around a key global energy shipping route.
  • The IRGC Navy said US intervention in shipping lanes through the strait would disrupt efforts to normalize traffic and prompt an overwhelming response.
  • The renewed fighting between the two countries has interrupted the recovery in traffic through the Strait of Hormuz, leaving shipping effectively in a state of paralysis.

Forecast Trend Report by Period

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Hopes for Strait of Hormuz Normalization Fade

Photo: Shutterstock
Photo: Shutterstock

Tensions around the Strait of Hormuz, a critical global energy shipping route, are rising again as fighting between the US and Iran resumes. Iran’s Islamic Revolutionary Guard Corps warned Washington against intervening in shipping through the waterway.

Iran’s state news agency reported that the IRGC Navy said in a statement on July 9 that “foreign forces have no place in this land and in the Strait of Hormuz.” Any US intervention in shipping lanes there would disrupt the phased normalization of maritime traffic, it said.

The IRGC Navy also said any attempt by the US to dictate shipping routes would trigger an overwhelming response. Such a move would also jeopardize the interests of countries that rely on the Strait of Hormuz, it added.

Iran said vessel traffic through the strait had recovered to about 50% of prewar levels. It also said transit by ships authorized to use routes designated by Iran was increasing.

Iran signed a memorandum of understanding with the US last month to end the war and temporarily allowed free passage through the Strait of Hormuz for 60 days. Vessel traffic through the strait had been gradually increasing afterward.

But the resumption of fighting between the two countries has stalled that recovery again. As military tensions rise, shipping through the Strait of Hormuz has effectively been paralyzed, the report said.

Oh Se-seong, Hankyung.com reporter sesung@hankyung.com

#Energy Supply Chain
#Strait of Hormuz
#Middle East Geopolitics
Korea Economic Daily

Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.

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