IRGC spokesperson says Iran captured second American submarine in Hormuz 'hunting ground' - report

The Persian Gulf Strait Authority (PGSA), an entity established by Iran to manage the Strait of Hormuz, has issued a stern warning to ships using "illegal routes" in the area. According to the authority, such actions could result in financial and life losses for the vessel, its owner, master, and crew, severely hindering future passage through the Strait.

The PGSA emphasized that shipowners are responsible for ensuring compliance with maritime regulations to avert such violations. In the event of charterer breaches, all vessels associated with the offending companies may face restrictions in the future.

Prior to the US and Israel-initiated war against Iran in late February, the Strait of Hormuz experienced minimal restrictions on shipping. Approximately one-fifth of global oil demand traversed the Strait, which also serves as a vital conduit for liquefied natural gas and fertilizer. However, since the onset of hostilities, Iranian threats and attacks have nearly halted maritime traffic through the Strait, causing a significant surge in global oil and gas prices.