Iran Controls Strait of Hormuz, Restricts Shipping Despite US Ceasefire Agreement

Iran and the United States agreed to a two-week ceasefire which included a condition that safe passage through the Strait of Hormuz would be guaranteed.

The strait remained effectively closed as Iran insisted that ships must obtain its permission to transit.

ABC News

Marine traffic monitors reported just four to seven ships crossing in the first 24 hours, compared to a pre-war daily average of more than 130 vessels.

The Iranian navy released a map indicating it may have mined the strait and outlining designated shipping lanes closer to Iran's mainland.

The UAE's ADNOC CEO stated bluntly that the Strait of Hormuz is not open.

Shipping traffic through the Strait of Hormuz remained at a trickle despite the ceasefire.

Iran demanded tolls of up to $2 million per ship, payable in cryptocurrency.

ABP News

Shipping companies faced uncertainty about whether paying Iran would violate sanctions.

About 800 ships, including more than 180 laden tankers, remained stuck in the Persian Gulf.

Analysts warned it could take weeks or months to restore normal shipping schedules.

The UAE's Ministry of Foreign Affairs said Iran must be held accountable for damages.

The European Union was finalizing plans to set up a mission to escort ships.

Oil prices climbed back above $100 a barrel as the lack of meaningful traffic renewed supply disruption fears.

The International Energy Agency said the war caused the most severe supply disruption ever.

The strait is vital for energy and chemicals needed for products like microchips.