Hormuz Blockade: Second Attempt Within 24 HoursThe tanker’s transit marks its second attempt in less than a day. Shortly after the blockade came into force, the vessel had initially approached the narrow channel near Iran’s Qeshm Island before turning back, only to resume its journey hours later. During this time, it broadcast details of its Chinese ownership and crew, a common maritime safety practice that may also test US willingness to enforce restrictions. Read more: How a US blockade near the Strait of Hormuz could work and the impact ahead for the global economy Global Shipping on Edge Amid US-Iran TensionsThe blockade, announced by Donald Trump, came into effect on Monday and is aimed at curbing Iran’s oil exports. The move has left global shipping firms and energy traders uncertain, with many pausing operations until clearer guidelines emerge. Reports indicate that no vessels with active transponders have entered the Persian Gulf since the blockade began. Other Tankers Also Under ScrutinyAccording to Bloomberg, another tanker, Elpis, entered the Gulf of Oman via the Strait of Hormuz as the blockade took effect. Ship-tracking platforms suggested that the vessel had previously docked at an Iranian port, further complicating the situation. Energy Security Concerns: Asia Watches CloselyThe developments have sparked concern among Asian economies heavily reliant on Middle Eastern oil supplies. Wang Yi has called for renewed diplomatic efforts, urging stakeholders to push for dialogue between Tehran and Washington. The Rich Starry is reportedly sailing under a Malawi flag, though the African nation has stated it does not maintain a registry for oceangoing vessels. Ownership records link the tanker to Full Star Shipping Ltd., with connections to a Shanghai-based company also under US sanctions. Authorities and industry observers continue to monitor the situation closely, as tensions in the Strait of Hormuz threaten to disrupt global energy flows and further escalate geopolitical risks. Inputs from agencies (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Hormuz Blockade: Second Attempt Within 24 HoursThe tanker’s transit marks its second attempt in less than a day. Shortly after the blockade came into force, the vessel had initially approached the narrow channel near Iran’s Qeshm Island before turning back, only to resume its jou…
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International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.