Iran may introduce a classification system dividing countries into three categories, which will determine whether their vessels are allowed to pass through the Strait of Hormuz.
Details
According to Al Jazeera, Iran could classify countries as “friendly,” “neutral,” or “hostile.” Depending on the category, Tehran would decide whether to allow ships from those countries to transit the Strait of Hormuz. Iran will deny passage for vessels from “hostile” countries. At the same time, it will allow “neutral” states only if they pay an additional fee.
If implemented, the move would alter the international status of the strategic route used for global oil and gas transportation. One of the key questions for Iran is how it will classify the United States and other Western nations, which Tehran has traditionally considered “hostile.” The response of countries in the Persian Gulf region is also expected to influence the situation.
Amid the war in the Middle East, the global oil market has seen a shortfall of approximately 400 million barrels. Oil shipments through the Strait of Hormuz have dropped from 20% to 5%, which is considered a critical level.
Iran’s attempt to assert control over the strait’s status directly threatens the interests of Persian Gulf countries, which collectively hold about one-third of the world’s oil reserves.
U.S. Outlook
U.S. Treasury Secretary Scott Bessent sees a possibility of reopening the Strait of Hormuz for cargo shipping, Bloomberg reports. He said the administration is working to address the global oil supply shortage.
“Over time, the US is going to retake control of the straits, and there will be freedom of navigation — whether it is through US escorts or a multinational escort,” Bessent said in an interview with Fox News on March 30.
According to him, the global oil market is experiencing a shortage of “in deficit about 10 to 12 million barrels a day.” The United States plans to compensate for it.
Earlier, The Ukrainian Review reported that Volodymyr Zelenskyy said Ukraine could share its experience to help unblock the Strait of Hormuz, although allies have not involved the country in the process.
