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The Islamic Revolutionary Guard Corps (IRGC) has modified its threat to close the Strait of Hormuz, essential for global oil transport, stating it will only target ships from the United States, Israel, and Europe.
Breitbart News suggested this change appears to be due to strong pressure from China, while also reporting that China has ordered its largest refiners to halt diesel and gasoline exports until further notice.
The Strait of Hormuz is a narrow channel connecting the Persian Gulf and the Gulf of Oman, through which approximately one-fifth of the world's oil and liquefied natural gas (LNG) passes.
The Iranian Revolutionary Guard Corps announced the "closure" of the Strait of Hormuz shortly after the commencement of 'Operation Epic Fury,' and IRGC officials threatened to "burn" any oil tankers attempting to pass through the blockade.
As of Thursday the 5th, no international maritime organization has announced official notification of the Strait of Hormuz's closure, but dozens of ships are either stranded at both ends of the strait or are taking long detours around Africa.
The South Korean government stated that seven oil tankers carrying up to 2 million barrels of crude oil are "virtually isolated" in the Strait of Hormuz. Including other merchant ships, the total number of South Korean flagged vessels reaches 40.
According to The Japan News, 44 Japanese-linked vessels are stranded in the Persian Gulf.
China imports over 45% of its oil through the Strait of Hormuz via various routes.
The Chinese Ministry of Foreign Affairs stated in a release on Monday, "The Strait of Hormuz and its adjacent waters are important international trade routes for goods and energy. Maintaining security and stability in this region is in the common interest of the international community."
President Donald Trump announced on Tuesday that the U.S. International Development Finance Corporation (DFC) would provide risk insurance for oil tankers transiting the Persian Gulf, and that the U.S. Navy stands ready to escort oil tankers through the Strait of Hormuz if necessary.
Trump vowed in a post on Truth Social, "No matter what, the United States will ensure the free flow of energy around the world."
On the 5th, the Iranian Revolutionary Guard Corps claimed through state broadcaster IRIB that ships belonging to the United States, Israel, European powers, and "their supporters" would "certainly be attacked," but issued a statement that other ships could freely use the Strait of Hormuz.
Iranian officials had announced on Tuesday the 3rd that Chinese flagged ships would be specially allowed to pass through the strait as a gesture of gratitude to the Chinese government for its support of the Iranian regime. However, this promise did not seem to provide China with reassurance regarding its safety.
According to Bloomberg, the Chinese government ordered its largest refiners on Thursday to halt exports of diesel and gasoline. Since Russia's invasion of Ukraine in 2022, China has reduced export quotas due to growing concerns about domestic fuel supply, but has never implemented a reduction as large as the total halt ordered today.
China has purchased up to 90% of Iran's crude oil exports in recent years and has competed with India to purchase the most discounted Russian oil. Furthermore, China has not yet recovered from the shock of suspended Venezuelan oil supply following the collapse of the Maduro regime.
China is heavily reliant on Qatar for its liquefied natural gas (LNG) supply, and Iran's attacks on Qatar have disrupted Qatar's LNG shipments. While China is shifting some of its purchases from Iran to Russia, analysts are divided on how much Russia can mitigate the impact on China, according to Politico.
By NNP Chief Reporter Sung Ku Hong / Special Correspondent for this paper NNP info@newsandpost.com
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