Iran's IRGC Seizes UAE Oil Tanker as Hormuz Crossings Fall to 95
Updated
Updated · Yahoo Finance · Aug 17
Iran's IRGC Seizes UAE Oil Tanker as Hormuz Crossings Fall to 95
3 articles · Updated · Yahoo Finance · Aug 17
Summary
Iran's Revolutionary Guards seized a UAE-owned oil tanker in the Strait of Hormuz on Monday, according to Iran's Fars News Agency, as the 60-day U.S.-Iran ceasefire expired.
95 confirmed transits were recorded in Aug. 10-16, down from 118 a week earlier, with crossings collapsing to just three on Sunday from a Tuesday peak of 19.
Iran moved to a "fully offensive" posture after deadlocked talks on a permanent end to the war, while repeated violations of the ceasefire terms undermined efforts to reopen the shipping corridor.
Trump said Monday he was in no hurry to set a new deadline for Tehran, after asserting last week that the U.S. controlled the strait and planned to declare it U.S. territory.
Before the war began on Feb. 28, roughly 130 to 140 vessels crossed the strait daily, underscoring how far traffic through the vital oil route has yet to recover.