Tehran now claims a broader area of the critical oil chokepoint, raising risks for shipping and energy markets.
Iran has formally expanded its definition of the Strait of Hormuz, designating a significantly larger area as under its control. The move was announced by the Islamic Revolutionary Guard Corps naval forces, which warned against any encroachment on its waters or interests.
The Strait of Hormuz is a vital route for global oil shipments, with roughly 20% of the world’s crude passing through it daily. Previous definitions of the strait’s boundaries were narrower, but Iran’s latest claim could heighten tensions with regional and global powers.
No immediate market reaction was reported, though analysts suggest the move may increase geopolitical risks for energy supplies and shipping insurance costs.