Key facts
- Iran's IRGC warned that if the U.S. blocks regional energy exports by controlling maritime routes, other routes serving U.S. and allied interests could be shut down.
- The IRGC stated that regional energy exports would be "for everyone or for no one."
- Oman announced a new shipping transit route through the Strait of Hormuz, which Iran's IRGC claims was done without its coordination and poses safety risks.
- A Singapore-flagged cargo ship, The Ever Lovely, was reportedly struck by an unknown projectile off the coast of Oman while using the new route.
- US officials reportedly blamed Iran for the attack on The Ever Lovely.
- The IRGC threatened to block all imports and exports through the Persian Gulf and Sea of Oman if the U.S. continues its naval blockade of Iranian vessels.
Iran's Islamic Revolutionary Guard Corps (IRGC) has issued a stern warning that any U.S. interference with regional energy exports via maritime routes would lead to retaliatory actions, potentially shutting down other routes serving U.S. and allied interests. The IRGC stated that regional energy exports would become "for everyone or for no one."
This warning follows Oman's announcement of a new shipping transit route through the Strait of Hormuz, which Iran claims was established without its prior notification or coordination and poses safety risks. The IRGC has declared this proposed route unacceptable.
Adding to the tensions, a Singapore-flagged cargo ship, The Ever Lovely, was reportedly struck by an unknown projectile off the coast of Oman while transiting the new route. Reuters, citing two U.S. officials, has attributed the attack to Iran.
The IRGC has also threatened to block all imports and exports through the Persian Gulf and the Sea of Oman if the United States continues its naval blockade of Iranian vessels in the Strait of Hormuz. This escalation comes amid a broader conflict and a breakdown in peace negotiations between the U.S. and Iran.
The Strait of Hormuz is a critical chokepoint, normally handling approximately 20% of global oil supplies and 20% of global liquefied natural gas (LNG). Disruptions in this region have historically led to significant increases in global energy prices and market volatility. The current crisis has already driven Brent crude prices above $100 a barrel and is described by the International Energy Agency (IEA) as the largest supply shock in modern oil market history.