Iran has effectively closed the Strait of Hormuz, a major oil shipping route, since the U.S.-Israeli war on Iran began on February 28. The closure has significantly impacted global shipping and caused skyrocketing oil prices.
Key Takeaways
Iran has effectively closed the Strait of Hormuz since the U.S.-Israeli war began on February 28, impacting global shipping and oil prices. A French-owned ship recently passed through the strait, marking the first major Western European vessel to do so since the conflict started.
- Iran allows 'non-hostile vessels' but ongoing attacks have halted normal transport activity
- French-owned container ship passes through Strait of Hormuz
- About 100 vessels have traversed the strait since late February, with a third linked to Iran
- Global oil prices surge due to reduced traffic through the waterway
A French-owned container ship recently passed through the strait, marking the first vessel owned by a major Western European firm to do so since the conflict started. The Malta-flagged ship, owned by French company CMA CGM, crossed the Strait of Hormuz on Friday, according to media organization BFM TV.
While Iran has stated that 'non-hostile vessels' can use the waterway, ongoing attacks have halted normal transport activity. Tracking data showed the French-owned ship passed close to the coast of Oman on the opposite side of the waterway to Iran. A Japanese oil tanker also followed the same route out of the Strait of Hormuz.
About a fifth of the world's oil and liquid natural gas is transported through the Strait of Hormuz from the Gulf countries. The conflict has led to a dramatic slowdown in traffic, with about 100 vessels able to pass through since late February, according to data analyzed by BBC Verify in late March.
Roughly a third of those ships had links to Iran, while other vessels were linked to countries such as Pakistan and India. The reduction in traffic has caused global oil prices to surge, leading to fears of higher inflation around the world.
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