India to witness oil price hike soon? IRGC threatens to disrupt global oil supply, says continued presence of US forces around Strait of Hormuz could...
Commercial vessels have been attacked here in the past as well, including ships carrying Indian crew members. This has raised fears of prolonged disruptions in the global energy market.
IRGC threatens to disrupt global oil supply
New Delhi: In a significant development, Iran's Islamic Revolutionary Guard Corps (IRGC) has said that the continued presence of US forces in and around the Strait of Hormuz could cause major disruptions to global oil and gas supplies. Experts are of the opinion that the warning is likely to further escalate tensions in one of the world's most critical energy corridors.
The IRGC issued the warning amid a renewed military conflict between Iran and the United States. The US has reportedly carried out strikes on IRGC military facilities, while Iran has launched strong retaliatory attacks on US military bases in Gulf countries.
Oil supplies through the Strait of Hormuz have once again been disrupted after tensions between Iran and the United States erupted once again. Both sides are carrying out military strikes against each other, with the Strait of Hormuz remaining at the center of the crisis. Nearly one-fifth of the world's oil trade passes through this vital waterway.
Commercial vessels have been attacked here in the past as well, including ships carrying Indian crew members. This has raised fears of prolonged disruptions in the global energy market.
What is the IRGC's major warning on the Strait of Hormuz?
The Islamic Revolutionary Guard Corps (IRGC), in a statement carried by Iranian state media, said that "continued interference could trigger major incidents in the global oil and gas sector." The statement added that ending US military involvement in the Strait of Hormuz is the only way to restore normal shipping traffic. It also warned that Washington's actions could further destabilize international energy markets.
Meanwhile, US President Donald Trump announced that the US-led naval blockade against Iran would be reinstated. He also proposed imposing a 20% transit fee on cargo passing through the Strait of Hormuz, with Washington taking control of the waterway's security. Donald Trump argued that the United States should be compensated for securing one of the world's busiest shipping routes.
Iran Rejects Trump's Proposal Outright
Iran has categorically rejected the proposal put forward by US President Donald Trump. Foreign Minister Abbas Araghchi mocked the idea, saying that the proposed 20% fee was "far too high." He stressed that Iran would remain "fair" in any future arrangements concerning transit through the Strait.
Tehran has repeatedly asserted its sovereign rights over the strategic waterway and accused Washington of attempting to impose unilateral control over an international shipping route.
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