On April 9, the Iranian Islamic Revolutionary Guard Corps (IRGC) Navy issued a directive requiring all ships intending to transit through the Strait of Hormuz to comply with two new alternative routes.
According to the official announcement, this measure was taken to ensure the safety of means of transport before the risk of collision with anti-ship mines in the area, which is at an alarming level due to military tensions. Iran affirmed that direct coordination with the IRGC Navy is a mandatory requirement until further notice.
It is noteworthy that both alternative routes direct ships deep into waters near Iran's Larak Island. Observers believe that this is Tehran's effort to tighten actual surveillance over this strategic channel.
By forcing super-large oil tankers to go close to their bases, the IRGC can easily identify and control cargo information. This move takes place right in the context of the 14-day ceasefire between the US and Iran just entering its second day.
This new maritime regulation is creating another "stumbling block" at the negotiating table in Islamabad scheduled for April 10. The US has always considered freedom of navigation unobstructed as a top priority and Iran's unilateral redirection of ships may be seen as an act challenging commitments to freedom of trade.
The US and Israel are maintaining close coordination to ensure that all upcoming peace agreements must be accompanied by the lifting of these maritime restrictions, and at the same time require Iran to completely denuclearize.
For transportation companies, changing routes is not only a security concern but also a difficult economic problem. Every day of delay of a large crude oil tanker can cause damage from 50,000 USD to 80,000 USD in operating and insurance costs.
If this situation persists, cost pressure will quickly shift to gasoline and oil prices in consumer markets, shaking the price decline of Brent oil, which has just retreated to 90.5 USD/barrel.
