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The United States has warned shipping companies that they could face sanctions if they make payments to Iran for safe passage through the Strait of Hormuz. The alert, issued Friday by the US office of foreign assets control, comes amid rising tensions over control of the strategic waterway.The Strait of Hormuz, through which about a…
New Delhi: With no sight of the Strait of Hormuz (SoH) opening for commercial traffic in near future, shipping ministry has shared a list of around 40 India-bound “priority vessels” with the external affairs ministry, suggesting the option of evacuating them through territorial waters of Oman. Oman’s territorial waters is on the south of SoH…
The United States has imposed fresh sanctions on a major China-based oil refinery and around 40 shipping companies and tankers linked to Iranian oil transport, escalating its campaign to choke Tehran’s key revenue stream.The move, announced on Friday, targets what Washington describes as an extensive “shadow network” used to move Iranian crude to global markets.It…
As the blockade of the Strait of Hormuz continues to impact the world’s oil supply, a new cyber threat has emerged for the thousands of sailors trapped in the Middle Eastern region: digital pirates running a cryptocurrency scam. MARISKS, a Greek maritime risk management firm, has issued a warning to shipping companies that messages that…
As tensions rise in Middle East and vessel safety in the Strait of Hormuz comes under renewed focus, the flag a ship flies has emerged as a key factor in maritime security, regulation and state protection.Flagging a vessel means it is registered with a country and must comply with that nation’s maritime laws and regulations….
The government has approved a Bharat Maritime Insurance Pool with a sovereign guarantee fund of Rs 12,980 crore to support maritime insurance amid disruptions caused by the Middle East conflict, Union minister Ashwini Vaishnaw announced on Saturday.The scheme aims to address rising insurance premiums and tighter approvals for shipping cover, which are currently being granted…
MUMBAI: The opening of the Strait of Hormuz, one of the most important shipping channels in the world for the flow of crude oil and natural gas, led to a global rally in stocks on Friday evening. This also overshadowed the muted trading witnessed during the early part of the day in all of Asia…
NEW DELHI: India on Thursday raised serious concerns at the United Nations over threats to commercial shipping in the Strait of Hormuz, urging the immediate restoration of safe navigation and calling for restraint and de-escalation amid continuing tensions in the Middle East.Addressing the UN General Assembly debate under the Veto Initiative on “The Situation in…
NEW DELHI: External affairs minister S Jaishankar Wednesday underlined India’s strong commitment to safe and unimpeded transit passage of maritime shipping, saying attacks on merchant shipping were completely unacceptable.The minister gave vent to India’s concerns related to merchant shipping disruptions in Strait of Hormuz, while participating in a meeting convened by Japan to discuss supply…
Image used for representative purposes A fragile ceasefire between the United States and Iran has injected cautious optimism into one of the world’s most strategically sensitive maritime corridors, the Strait of Hormuz. But despite the diplomatic pause, shipping through the waterway still remains constrained, uneven, and heavily conditioned by security considerations.The strait, which connects the…
