Photo: BlockMedia
Iran escalated tensions by claiming tighter control over the Strait of Hormuz.
Odaily, a cryptocurrency-focused media outlet, reported on April 28 that the deputy commander of the Iranian Islamic Revolutionary Guard Corps Navy said Iran had achieved “absolute control” over the strait.
He said Iran could impose transit fees on ships passing through the waterway and that foreign vessels must comply with rules set by Tehran. Those rules could include a requirement to communicate in Persian.
He also struck a hard line on oil shipments through the strait, saying that without an order from Iran’s supreme leader and the will of the Iranian people, “not a single drop of oil” would pass through. He added that Iran’s military is on high alert and ready to respond to any maritime blockade.
Markets are assessing whether the remarks will rekindle tensions in the Middle East and ripple through global energy supplies and broader risk-asset markets.