Is the world once again moving towards a severe energy crisis? The interim peace agreement between America and Iran seems to be unraveling in just 10 days. Britain’s Maritime Safety Agency (UKMTO) confirmed on Saturday that an oil tanker in the Strait of Hormuz has been attacked by a missile or shell. This is the biggest and most dangerous military confrontation between the two countries so far after the agreement to stop the four-month-long conflict. After this attack, the ‘Joint Maritime Information Centre’, a coalition of navies engaged in the security of ships, has increased the security threat level in the area.
Both sides accused of breaking the agreement
This latest controversy started with the attack on a cargo ship on Thursday. After this, on Saturday both the countries launched fierce attacks on each other. The US military targeted Iranian targets overnight, in response to which Iran attacked US military targets on Saturday. US Vice President JD Vance wrote in a stern tone on the social media platform X, ‘Iran had signed the ceasefire agreement. We have respected it. If they had any problems, they could pick up the phone. But violence will now be answered with violence only. On the other hand, Mohsen Rezaei, advisor to Iran’s supreme leader, alleged that the US is violating the agreement by supporting proxy forces in the region.
Can oil prices rise?
Iran is now trying to re-establish its control over this most important energy route of the world. According to Iranian state television, the Islamic Revolutionary Guard Corps fired “warning shots” at ships that were passing through unauthorized routes. Iran now wants ships crossing the strait to seek permission from it. Iran has also blamed America’s failure to establish a ceasefire in Lebanon for this tension. Despite the new peace agreement between Israel and Hezbollah in Lebanon, an Israeli drone attack took place in the Nabatiyeh area on Saturday, while Hezbollah leader Naim Qasim has rejected the agreement as surrender.
What are the big things related to the Strait of Hormuz crisis?
- Tanker attack: An oil tanker was attacked in the Strait of Hormuz on Saturday, damaging its bridge, although all crew members are safe.
- Agreement broken in 10 days: Just 10 days ago, an interim peace agreement was signed between America and Iran to stop the four-month-old war.
- Warning shots: Iran’s military has fired warning shots at unidentified vessels violating regulations and attempted to enforce Iranian permits.
- Impact on allied countries: Iran launched a drone attack on Bahrain in response to the US attack on the Syrian port, where the US Navy’s regional headquarters is located.
- Threat looms on oil markets: Oil prices had fallen to pre-war levels for two weeks due to the opening of waterways, but due to the market being closed due to this latest conflict, prices are currently stable.