Iran Says Strait of Hormuz Remains Open Despite Shipping Hesitancy
Iran's Foreign Minister Seyed Abbas Araqchi affirmed that the Strait of Hormuz, a crucial maritime passage for global oil shipments, is not closed despite reduced ship movements. He attributed the hesitation of ships to insurers’ fears related to regional conflict initiated by others, not Iran. This underscores Tehran's position that it is not responsible for disrupting shipping traffic, placing blame on external actors for escalating tensions.
Araqchi stated that no insurance company nor Iran itself will be influenced by threats and urged for mutual respect to maintain freedom of navigation and trade through the strait. The Strait of Hormuz is one of the world's most important oil transit chokepoints, and any disruption could have broad global economic consequences.
His remarks seek to reassure international stakeholders amid ongoing security concerns in the Persian Gulf, where Iran has previously threatened to close or restrict the strait in response to U.S. and allied actions. The foreign minister’s message signals Iran’s refusal to yield to pressure yet warns that restricting trade and navigation freedom would be mutually harmful.
The development also highlights the risk that insurers and maritime operators could limit activity due to geopolitical tensions, independently of any physical blockade. Such insurance risk fears could economically impact global supply chains and raise prices of petroleum products worldwide.
