politics
U.S. Launches Project Freedom; Iran Threatens Ships in Strait of Hormuz
Iran warned on Monday that it would target American warships and commercial vessels attempting to transit the Strait of Hormuz without permission, hours after the United States began Project Freedom to guide stranded ships out of the waterway. The initiative follows two months of war that closed the strait, trapping 1,600 vessels.
KO
JA
+2
fortune.comAudio version
Tap play to generate a narrated version.
Iran issued threats on Monday to attack U.S. warships and commercial vessels transiting the Strait of Hormuz without Iranian permission.
The threats followed the U.S. announcement of Project Freedom, an operation to guide neutral commercial vessels trapped in the Persian Gulf through the strait amid the ongoing U.S.-Israeli war with Iran. U.S. Central Command stated on Sunday that it would coordinate the movement of stranded ships but would not escort them.
U.S. military support for Project Freedom includes guided-missile destroyers, over 100 land- and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members.
" The Strait of Hormuz, through which about one-fifth of the world's oil and gas normally ships, has been effectively closed by Iran since the war began two months ago. The United States imposed a naval blockade on shipping into and out of Iranian ports and set up a military blockade southeast of the strait in the Gulf of Oman to prevent Iranian oil shipments to world markets, following U.S. and Israeli airstrikes on Iran in late February.
A high-level meeting between American and Iranian leaders occurred in Pakistan amid ongoing negotiations. President Trump said Iran's new proposal via Pakistani mediators "was probably insufficient" but that "negotiations are ongoing and could lead to something very positive."
Shipping industry representatives expressed concerns about the U.S. plan. Jakob P.
According to Bob Savage of BNY, the number of vessels passing the Strait of Hormuz averaged five per day but only three in the last 48 hours as of Monday. Most ships passing since the war began took a route close to Iran's coastline, indicating they obtained Iranian permission.
The United Arab Emirates accused Iran of launching a drone attack on an ADNOC-owned oil tanker attempting to transit the strait on Monday, according to the Emirati state news agency. No injuries were reported. A vessel near the strait was hit by projectiles on Sunday, and a second vessel was attacked by multiple small craft east of the strait near Sirik, Iran, on Sunday, according to the United Kingdom Maritime Trade Operations.
