Iran to announce new restricted zone in the Gulf in the coming days
DUBAI: Iran said it will announce a new restricted zone in the Gulf in the coming days, along with maps of a new shipping corridor through the Strait of Hormuz , as a weekend exchange of strikes on shipping sent oil prices higher on Monday. The new restricted zone will begin from where the US blockade of Iran begins and extend into areas of the Gulf, Mohsen Rezaei , the secretary of Iran’s…
Iran plans to declare a restricted zone in the Gulf in the near future, according to Mohsen Rezaei, secretary of Iran’s Supreme National Security Council. The region will begin from the existing US blockade and extend further into the Gulf, according to Rezaei. Ships entering the restricted area will be added to a sanctions list.
Maps outlining a new shipping corridor through the Strait of Hormuz will also be approved soon. Iran will only commit to keeping the Strait open if the US halts attacks, threats, and sabotage on its territory. The conflict with the US has been at a stalemate for months, with little progress made in diplomatic efforts. Since June, when US-Israeli strikes sparked the war, tit-for-tat strikes have resumed.
On Saturday, US forces attacked three Iranian oil tankers, including one off Kharg Island, Iran’s key oil export hub. Oil prices surged after the strikes. The Strait of Hormuz, which carries about a fifth of global oil supplies, has seen a significant drop in tanker traffic. Iran’s economy is suffering due to U.S. sanctions, with sharp currency fluctuations, inflation, and unemployment.
The country plans to respond to economic pressure with reforms, rejecting the notion that sanctions will change its decisions. Iran’s blockade of the Strait of Hormuz has driven up fuel prices, impacting the popularity of US President Donald Trump as his party prepares for the upcoming elections.
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