Tehran approves passage for 4 million barrels of Iraqi crude and Qatari LNG tankers amid tightened control over the critical waterway.
Iran has approved the transit of two Iraqi crude carriers, each holding 2 million barrels, and two Qatari LNG tankers through the Strait of Hormuz. The deals were struck separately with Iraq and Pakistan, with no direct payments to Iran or its IRGC, according to sources.
Vessel traffic through the strait has plummeted to 5% of pre-war levels, or roughly 150 ships per month, down from 3,000. Iran now requires detailed documentation for each tanker, routing them through designated corridors under naval supervision.
Brent crude prices have surged over 50% since late February, while European and Asian LNG prices have risen 35% to 50%. The agreements highlight Iran’s growing influence over the strategic chokepoint.