Strait of Hormuz grinds to a halt as US threatens Iran

The Strait of Hormuz has experienced a significant slowdown in shipping activity following a string of attacks on vessels attempting to transit the narrow waterway. Two more ships were targeted, prompting the United States to assert it could maintain a naval blockade of Iran indefinitely. Since a ceasefire in June, Iran has resumed attacks on ships it claims are violating its territorial rights.

The United Arab Emirates' Abu Dhabi National Oil Company reported two of its vessels were attacked on Thursday evening. Despite only two ships passing through on Friday, the data shows a stark contrast with pre-war levels, with an average of more than 130 vessels now passing daily. US Defense Secretary Pete Hegseth confirmed the military's capacity to sustain a blockade, while Treasury Secretary Scott Bessent announced further financial repercussions.

Iran remains defiant, demanding the removal of sanctions and the release of frozen assets, which the US has refused to do. The US has threatened more military action, though has thus far avoided direct ground involvement. The economic impact of the conflict continues to be a major concern, with global economic growth projections indicating a potential recession.