Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy has confirmed it is finalizing new operational measures to control navigation through the Strait of Hormuz. This reflects Tehran’s refusal to comply with U.S. demands to restore the Strait’s previous status, particularly opposing unrestricted access for the United States and Israel. The Strait of Hormuz is vital to global energy transportation, channeling roughly one-fifth of the planet’s oil and gas shipments. Closure or restricted access has significant implications for international energy markets, impacting supply and prices worldwide. Iran asserts it will set maritime passage rules jointly with Oman, excluding foreign powers like the... [Continue Reading]