Iran has said it will allow only Chinese vessels to pass through the Strait of Hormuz as an expression of gratitude for Beijing’s stand towards Tehran since the war in the Middle East began, sources have said. This is significant because the Strait, which provides the Persian Gulf ports access to the open sea, is a key chokepoint that Iran has blocked since the conflict in the region began, threatening global supply chains. Iranian forces have warned that any ship attempting to cross the Strait will be targeted. The Islamic Revolutionary Guard Corps, Tehran’s elite force spearheading the counter-attack after the US and Israel offensive, has said they now have “complete control” of the Strait and any vessels seeking to pass risked damage from missiles or stray drones.
Middle East Tensions Hit Global Markets: Indian Stocks Slide, Oil Prices Surge
Global markets remain volatile amid escalating tensions in the Middle East following disruptions in the Strait of Hormuz, a critical route through which nearly 60% of the world’s oil supply…
