Iran Limits Vessel Passage Through Strait of Hormuz

Iran will restrict the daily passage of vessels through the Strait of Hormuz to a maximum of 15, as part of a ceasefire agreement with the United States. This crucial waterway, vital for global oil transportation, has seen restricted access due to ongoing conflict since February, impacting oil prices.

Iran has announced a restriction on the passage of vessels through the vital Strait of Hormuz, allowing only 15 vessels a day as part of a ceasefire agreement with the United States. This information was reported by Russia's TASS news agency, citing an unnamed senior Iranian source.

The Strait of Hormuz, which is a critical waterway just 34 kilometers wide between Iran and Oman, is the primary passage from the Gulf to the Indian Ocean. It plays a crucial role in global trade, being responsible for the transportation of about a fifth of the world's oil supplies and other essential goods.

Since the conflict erupted at the end of February, Iran has largely restricted access to the Strait, which has contributed to a surge in global oil prices, underlining the waterway's importance to the international economy.

(With inputs from agencies.)