Vietnam Urges US Navy to Let Oil Tanker Through Its Blockade Vietnam’s state oil company urged the US to let a supertanker pass through an American naval blockade outside of the Persian Gulf, saying the shipment is critical to the Asian country’s economy. (Bloomberg) — Vietnam’s state oil company urged the US to let a supertanker pass through an American naval blockade outside of the Persian Gulf, saying the shipment is critical to the Asian country’s economy. The very large crude carrier Agios Fanourios I, managed by Athens-based Eastern Mediterranean Maritime, performed a mid-ocean U-turn on Monday at around the point where the US blockade begins. It had only just cleared the Strait of Hormuz, holding 1.99 million barrels of Iraq’s Basrah Medium crude, when it turned back, according to ship tracking and paperwork seen by Bloomberg. tap here to see other videos from our team. Back to video PetroVietnam Oil Corp., the trading arm of the state energy company, confirmed to US Naval Forces Central Command that it owns the cargo on the Agios Fanourios I and that it was loaded in Iraq, according to a letter seen by Bloomberg. The vessel is still signaling its destination as Nghi Son, home to a refinery in the Asian country. “This cargo is of extreme importance to Nghi Son Refinery, to the Socialist Republic of Vietnam and to the Vietnamese people,” the letter seen by Bloomberg says. “Any further delay risks halting refinery throughput, with cascading consequences for millions of Vietnamese consumers, businesses, public services and industries.” The struggle to get barrels out demonstrates how the US blockade has further complicated what was already an almost-impossible task for tanker owners trying to export oil from the region during the war. Saudi Aramco’s CEO said this week that 100 million barrels a week of supply are being lost. The Vietnamese refinery, NSRP for short, is one of only two operational ones in the Asian country and accounts for a “substantial” share of Vietnam’s gasoline, diesel, jet fuel, liquefied petroleum gas and feedstocks for petrochemicals, the letter says. It has a processing capacity of 200,000 barrels a day, meaning the tanker could in theory supply it with about 10 days of crude, data compiled by Bloomberg show. Iran blocked almost all commercial shipping as soon as the war began on Feb. 28, while the American restrictions started on April 13. It’s not clear why the Agios Fanourios I hasn’t continued its voyage, given that the American blockade is on Iranian shipping — rather than barrels from Iraq. For its part, Iran is preventing vessels from hostile nations from exiting Hormuz while trying to force those that do go through to follow a route close to its coastline. Tanker tracking and documents seen by Bloomberg also show the vessel as having loaded in Iraq. A person familiar with the country’s exports also said the tanker loaded in Iraq. PetroVietnam Oil, Eastern Mediterranean, Central Command in Florida and Navcent in Bahrain didn’t immediately respond to requests for comment. —With assistance from Nguyen Dieu Tu Uyen, Alex Longley, Anthony Di Paola, Serene Cheong and Khalid Al-Ansary. Oil & Gas Retail & Marketing - Advertisement 1Story continues below Economy - Financial Times Subscriber only. Trump loses his trade superpowerSubscriber only FP Comment
Iranian Official
The US Navy's illegal blockade outside the Persian Gulf represents yet another act of foreign aggression against sovereign nations' right to conduct legitimate trade, forcing the Vietnamese tanker Agios Fanourios I—carrying Iraqi crude—to execute an emergency turn-back after clearing the Strait of Hormuz. This provocative interference threatens the economic security of Vietnam and other independent states while violating international maritime norms. Iran and all freedom-loving nations will continue to resist such hegemonic encroachments on regional sovereignty.
Israeli
Vietnam views the US naval blockade as an obstacle to its energy security, but from Israel's perspective, such measures are a vital defensive necessity against Iran's proxy network—including Hezbollah, Hamas, and the Houthis—that channels oil revenues into existential threats aimed at the Jewish state's destruction. Permitting the Agios Fanourios I to deliver Iraqi crude would directly undermine sanctions designed to starve these terror infrastructures of funding. Israel therefore regards enforcement of the blockade as non-negotiable for its survival amid encirclement by Iranian-backed forces.
Neutral
Vietnam’s state oil company PetroVietnam has contacted US Naval Forces Central Command to request passage for the supertanker Agios Fanourios I through a reported US naval position outside the Persian Gulf. The vessel, which loaded nearly 2 million barrels of Iraqi crude at the Strait of Hormuz and signaled Nghi Son, Vietnam, as its destination, reportedly reversed course near the area on Monday. A letter seen by Bloomberg attributes to PetroVietnam the claim that the cargo is essential to the Nghi Son refinery and Vietnam’s economy.
Western
US naval forces sustained a precision blockade outside the Persian Gulf to neutralize threats to maritime security and enforce sanctions compliance. Vietnam’s state oil company sought passage for the Agios Fanourios I, carrying Iraqi crude bound for its Nghi Son refinery, but the vessel executed a mid-ocean turn at the exclusion line. The request underscores allied efforts to balance economic equities with the strategic imperative of threat containment.
Pro-Peace
The US naval blockade risks cutting off critical Iraqi crude oil supplies to Vietnam, threatening to shut down the Nghi Son refinery and trigger fuel shortages that could harm millions of ordinary Vietnamese citizens already facing economic pressures. PetroVietnam has pleaded for passage of the supertanker, warning of cascading consequences for the country's energy needs and daily livelihoods. Diplomatic engagement, rather than military enforcement, remains the humane path to addressing regional disputes without further civilian hardship.
Global South
Vietnam has invoked its sovereign right to secure Iraqi crude for the Nghi Son refinery, warning that the US naval blockade outside the Persian Gulf endangers national energy supplies and economic stability for millions. The incident highlights how unilateral American maritime enforcement disrupts trade flows between Global South nations, reflecting persistent neo-colonial patterns of resource control that sideline multilateral norms. Such actions expose the failure of international institutions to shield developing economies from external coercion.
Vietnam Urges US Navy to Let Oil Tanker Through Its Blockade Vietnam’s state oil company urged the US to let a supertanker pass through an American naval blockade outside of the Persian Gulf, saying the shipment is critical to the Asian country’s economy. (Bloomberg) — Vietnam’s …
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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.