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Hormuz Strait navigation slows amid US sanctions threats
Ship transit activity through the Strait of Hormuz has recorded a historic decline, with data showing only two vessels passing after an attack on two tankers belonging to ADNOC. The UAE has held Iran responsible for the incident without any comment from Tehran. The strait saw the transit of an empty LPG product tanker without any crude oil shipments, representing a sharp decrease from previous rates that exceeded 130 ships daily before the recent military escalation between the United States, Iran, and Israel. At the same time, the US Secretary of Defense reaffirmed America's ability to impose a blockade on Iran indefinitely, amid new financial measures set to be announced next week.
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