"The IRGC Navy said the action was taken after what it described as 'disrupting order and safety in the Strait of Hormuz,' which it called a 'red line' for Iran."
"An Iranian security official warned that any US seizure of Iranian vessels would carry consequences, describing it as a 'big gamble' that could legitimise retaliation."
"Starting today, all US-owned ships will be legitimate targets of Iran's asymmetric operations."
"The Strait of Hormuz has long been considered a critical chokepoint for global energy flows, and any sustained instability in the area is likely to have immediate implications for oil markets and shipping insurance costs worldwide."
The Islamic Revolutionary Guard Corps seized two commercial vessels in the Strait of Hormuz, escalating maritime tensions. The vessels, MSC Francesca and Epaminondas, were redirected to Iran's coast. The IRGC cited disruption of order as justification for the seizure. An Iranian official warned that US seizures of Iranian vessels would have serious consequences, declaring US-owned ships legitimate targets. This situation heightens fears of wider disruptions in global energy and trade routes, particularly affecting oil markets and shipping insurance costs.
Read at London Business News | Londonlovesbusiness.com
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