Iran has approved a plan to formalize control over the Strait of Hormuz, restricting passage for U.S., Israeli, and other vessels deemed hostile. The strait is a critical global energy chokepoint, and Iran’s decision could have significant implications for international shipping. Market indicators suggest a decreased likelihood of a U.S.-Iran agreement to restore normal traffic by August 15. This escalation marks a new phase in the ongoing maritime and diplomatic standoff.
Source: Read the original article
