A Chinese supertanker, the Yuan Hua Hu, carrying two million barrels of Iraqi crude oil, was observed navigating the Strait of Hormuz on Wednesday, prompting the US Navy to bomb the vessel. This marks the third known instance of a Chinese oil tanker attempting to traverse the strategic waterway since the US-Israeli war with Iran began on 28 February.
Iran's Growing Control
Iran is reportedly solidifying its grip on the Strait of Hormuz, having recently secured deals with Iraq and Pakistan for oil and liquefied natural gas shipments. The nation's control over the critical waterway has significantly impacted the global economy, leading to a surge in fuel prices and stranding 1,550 vessels and 22,500 mariners in the Persian Gulf.
Conditions for Reopening
Iran has stated it will only reopen the strait if the conflict ends and a US naval blockade is lifted. Meanwhile, Donald Trump is seeking wider concessions, including a rollback of Iran's nuclear programme. The situation remains tense as international shipping faces unprecedented disruption.
