Iran’s Islamic Revolutionary Guard Corps has announced another round of missile and drone strikes targeting ships allegedly violating Iranian routing requirements in the Strait of Hormuz. The strait handles roughly one-fifth of the world’s daily oil supply, making every missile launch a potential trigger for price shocks across the global economy. Since June 2026, the IRGC has maintained an escalating enforcement campaign, striking a cargo ship on June 25 approximately 7.5 nautical miles off the coast of Oman and stopping multiple tankers in July for lacking what Iran considers proper authorization. Shipping traffic through the strait remains below pre-conflict norms, while war-risk insurance premiums for vessels transiting the area have risen significantly since the escalation began.
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