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Iran Blocks Ships in Strait of Hormuz as Shipping Route Dispute Escalates

Financial Times Companies •
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Iran's Islamic Revolutionary Guard Corps forced at least four tankers to turn back from the Strait of Hormuz on Thursday, challenging an International Maritime Organization evacuation corridor. The IMO had established a safe route hugging Oman's coast for vessels stranded in the Gulf for over 100 days, but Tehran deemed this approach unacceptable and dangerous.

The maritime standoff occurs amid a fragile ceasefire between Iran and the US, where Iran has sought to impose its own transit rules through the newly formed Persian Gulf Strait Authority. Analysts note Oman's apparent alignment with the US-led IMO route signals disregard for Iranian demands, potentially undermining Tehran's bid to charge fees for passage through the strategic waterway.

Data from Windward shows 26 ships used the Omani route versus 15 on the Iranian path on Wednesday, suggesting growing acceptance of the IMO corridor. A Panama-flagged tanker was reportedly threatened with missile fire after refusing to divert to Iran's preferred northern route, highlighting escalating risks for commercial shipping. Oil prices fell for the first time since the conflict began, reflecting market relief.

Maritime analysts warn the incident exposes vulnerabilities in global shipping security, with threats against vessels likely to erode confidence among insurers and shipowners. The fragmented control over the Strait underscores the precarious nature of post-conflict navigation in one of the world's busiest shipping lanes.