Rising Hormuz Tensions Disrupt Asian Oil Routes
A number of maritime transport companies have temporarily halted voyages through the narrow passage due to sharply rising insurance premiums and mounting security risks. The uncertainty has significantly slowed maritime traffic in one of the world's most crucial oil transit chokepoints.
China characterized the strait on Monday as “an important international trade route” and called for an immediate halt to military operations. Speaking in response to a journalist’s inquiry, Foreign Ministry spokeswoman Mao Ning emphasized that calm in the waterway and nearby seas is essential for international commerce and urged measures to stop the situation from deteriorating further.
Reports from Iranian outlets on Saturday claimed the Strait of Hormuz had been “effectively” closed following US-Israeli strikes, although no official declaration of a blockade has been issued.
Meanwhile, more than 40 vessels connected to Japan — among them crude oil carriers — are reportedly stranded in the Persian Gulf. At least three ships have suspended efforts to navigate the strait due to the volatile conditions.
Japan is particularly exposed to disruptions in the corridor, as roughly 95% of its crude oil imports originate from the Middle East, with the majority transported through the Strait of Hormuz.
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