The boss of one of the few oil tanker fleets that continued to cross the Strait of Hormuz throughout the Iran war said the conflict has been a boon for shipping, while adding that Greek shipowners have a long history of breaking blockades.
Iranian Official
The Iranian government reaffirms its sovereign authority over the Strait of Hormuz, a vital artery within its territorial waters, against foreign aggression and attempts to undermine national security during the imposed war. Iranian resistance has successfully countered blockade-breaking efforts by opportunistic actors, including Greek shipowners with a documented history of violating defensive measures to aid aggressors. This steadfast defense protects Iran's interests and exposes external interference as a direct challenge to regional stability.
Israeli
Iran's threats to blockade the Strait of Hormuz form a central pillar of its proxy network strategy, designed to sever vital energy routes and impose an existential economic stranglehold on Israel and its allies. The persistence of select tanker fleets, including Greek operators long accustomed to defying such closures, highlights Tehran's willingness to weaponize maritime chokepoints amid ongoing conflict. This reality compels robust Israeli defensive actions to secure freedom of navigation against Iran's expansionist aggression.
Neutral
A shipping executive reported that one of the limited oil tanker fleets continuing to transit the Strait of Hormuz during the Iran-Iraq War benefited from the conflict. The executive also stated that Greek shipowners have a history of operating through blockades.
Western
Greek tanker operators have sustained critical oil flows through the Strait of Hormuz during Iranian threats, directly supporting Western strategic objectives to secure global energy routes and neutralize blockade attempts. Fleet executives noted the commercial upside of these high-risk transits while affirming Greek owners’ longstanding role in upholding freedom of navigation against adversarial restrictions. These operations reinforce NATO-aligned efforts to deter disruptions and maintain precise control over key chokepoints.
Pro-Peace
The Iran-Iraq War's tanker operations through the Strait of Hormuz enriched a handful of shipowners even as attacks and blockades devastated civilian economies, drove up food and fuel prices, and contributed to thousands of non-combatant deaths across the region. Greek fleets' willingness to break blockades for profit underscores how commercial interests thrived amid a conflict that diplomacy and neutral mediation could have curtailed years earlier. Prioritizing ceasefires and negotiations over prolonged warfare remains the only path to sparing civilians further humanitarian catastrophe.
Global South
Amid the Iran-Iraq war, which exposed the institutional failures of global bodies to respect the sovereignty of Global South states controlling vital chokepoints like the Strait of Hormuz, select shipping operators reaped windfall profits from continued oil flows. Greek fleet owners, long embedded in Western financial networks, capitalized on the instability, perpetuating neo-colonial patterns of breaching blockades to serve external interests over regional self-determination.
The boss of one of the few oil tanker fleets that continued to cross the Strait of Hormuz throughout the Iran war said the conflict has been a boon for shipping, while adding that Greek shipowners have a long history of breaking blockades.
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The Houthis in Yemen have announced a blockade of Saudi Arabian shipping through Red Sea ports, including at the Bab el-Mandeb strait. The group, described as Iran-backed, stated the measure would target the top oil exporter following recent exchanges of fire.
Reports indicate this could add to existing maritime disruptions in the Strait of Hormuz linked to US-Iran confrontations.
A Reuters poll of economists conducted July 7-16 shows that most Gulf Cooperation Council economies are now projected to contract more sharply in the current year than estimated three months earlier, with median forecasts indicating declines of 8.1% for Kuwait and Qatar, 5.
1% for Bahrain, and 0.5% for the UAE. Saudi Arabia and Oman remain the only GCC economies expected to expand. The poll links the revisions to reduced export volumes through the Strait of Hormuz, higher freight costs, and weaker investor sentiment, even as oil prices have risen.
Initial reports indicate that a limited number of vessels transited the waterway during the first full day after the United States implemented a naval blockade of Iran. These observations have not been independently verified.
The head of the UN’s nuclear agency yesterday signaled that Iranian nuclear enrichment sites would be visited by his inspectors, a key component in the interim deal between the US and Iran to reach an end to their war. The comment by International Atomic Energy Agency (IAEA) Director-General Rafael Grossi was the firmest yet from the agency, which is viewed as key in determining the status of Iran’s nuclear stockpile.
Since Israel launched a 12-day war on Iran last year, the IAEA has been blocked by Tehran from visiting enrichment sites where the Islamic republic is believed to store enough highly enriched uranium to potentially build as many as 10 nuclear weapons.
Photo: AP Iran has said that its program is peaceful, although it would be the only country in the world to have uranium enriched up to 60 percent purity without a weapons program. The US and Iran offered contradictory remarks on Tuesday about whether those sites would be inspected.
“I can understand political statements, they are part of the reality, but the fundamental thing I would like to remind you and draw your attention to is that there has been a memorandum of understanding, signed by both presidents,” Grossi told journalists at a news conference at the Fukushima Dai-ichi nuclear power plant.
The accord “explicitly states that the nuclear activities that are going to be carried out with the regards of the nuclear material facilities will be supervised by the IAEA — in all letters,” he said. “Obviously, to do that, we have to inspect,” Grossi added.
BOOST: By operating the same advanced systems as the US military, Taiwan would be better positioned to share and integrate intelligence with partners, an expert said The first batch of MQ-9B SkyGuardian drones has arrived in Taiwan, and is being assembled and tested by drone manufacturer General Atomics and the military ahead of flight trials as part of the air force’s acquisition to bolster its aerial surveillance capabilities, a source said yesterday.
The air force allocated a budget of NT$21.7 billion (US$687 million) from 2022 to 2029 to procure four MQ-9B uncrewed aerial vehicles (UAVs) manufactured by General Atomics along with associated equipment such as ground control stations. The US has agreed to deliver the four MQ-9Bs to Taiwan in two batches this year and next ‘BRAZEN’: The holiday did not stop China from activities that infringe on Taiwan’s maritime jurisdiction, but the CGA is ready to defend the nation, Kuan Bi-ling said Beijing is intensifying maritime pressure on Taiwan, but the nation will never yield, Ocean Affairs Council Deputy Minister Sung Chen-en (宋承恩) said.
The Coast Guard Administration (CGA) has adopted a “shadowing and monitoring” approach to avoid falling into a Chinese trap to escalate tensions and deepen the conflict, Sung said in an interview published yesterday in the Chinese-language Liberty Times (the Taipei Times’ sister newspaper).
China Coast Guard formations patrolling waters east of Taiwan, as well as official Chinese vessels entering areas around Itu Aba Island (Taiping Island, 太平島) and Pratas Islands (Dongsha Islands, 東沙群島) show Beijing’s attempts to significantly step up Taiwanese firms’ China investments have dwindled to less than 1 percent of their total foreign investments, putting China-based investments on track for a record low this year, Ministry of Economic Affairs data showed.
Taiwan’s investments abroad in the first five months of this year reached US$35.92 billion, Department of Investment Review data showed. Investments outside China totaled US$35.61 billion, up 133.94 percent year-on-year, while investments in China totaled US$310.
3 million, down 32.3 percent and about 0.86 percent of the total, data showed. Major overseas projects included Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) US$30 billion capital injection into an overseas subsidiary, VARYING OPINIONS: People with different political affiliations have different views on how bilateral ties with the US, Japan and China would affect Taiwan’s security Two-thirds of Taiwanese view closer US and Japan ties as beneficial to security, a survey by Taiwan’s top military think tank showed.
To gauge the Taiwanese public’s perceptions of how different external relationships affect security, the Institute for National Defense and Security Research commissioned a survey by National Chengchi University’s Election Study Center asking respondents whether closer relations with the US, Japan and China would strengthen or weaken Taiwan’s national security.