The Iranian government, through its mission to the United Nations, stated that ‘non-hostile’ vessels may avail of ‘safe passage’ through the Strait of Hormuz. In a statement issued on Tuesday, it clarified that ships can transit the strait “in coordination with the competent Iranian authorities,” provided they do not participate in or support acts of aggression against Iran and fully comply with declared safety and security regulations.
This announcement comes amid a collapse in maritime traffic through the waterway, which has prompted the most significant global energy crisis in decades. According to maritime intelligence firm Windward, the number of ships transiting the strait has plummeted: from an average of 120 daily transits before the conflict to only five tracked via automatic identification systems on Monday. This decline has triggered a surge in global energy prices, with some analysts predicting oil could rise to $150 or even $200 per barrel if the strait remains effectively closed.
Iran did not elaborate in the statements on the specific regulations vessels must follow for safe navigation, though a similar communication was shared with the International Maritime Organization. The strait typically handles about one-fifth of global oil and liquefied natural gas supplies, so the ambiguity of the rules continues to pose challenges for the shipping industry. Iranian officials initially warned that any ship attempting passage would face attack but have recently insisted the waterway remains open except to “enemies.”
In response to the situation, global energy markets have shown continued volatility. Brent crude, the international oil benchmark, fell more than 9% on Wednesday after hovering above $100 per barrel for much of March, following reports by The New York Times, Reuters, and Israel’s Channel 12 that the Trump administration allegedly sent Iran a 15-point plan to end the war. Hopes for a conflict resolution also boosted Asian stock markets: Japan’s Nikkei 225 index was up about 2.3% as of 02:30 GMT, South Korea’s KOSPI rose 2.6%, and Hong Kong’s Hang Seng Index increased by 0.7%.
Meanwhile, claims by US President Donald Trump that negotiations are underway have been previously denied by Tehran, highlighting the ongoing complexity. Iran’s statement may be seen as an attempt to partially reopen the strait, but due to unclear regulations and political tensions, serious concerns persist for global shipping and energy security.
Source: www.aljazeera.com