- Traffic through the Strait of Hormuz has more than halved following tit-for-tat strikes between the US and Iran this week, with only 23 cargo ships crossing on Wednesday compared to a previous daily average of 138.
- The significant reduction in maritime activity follows Iran's attacks on three commercial vessels near Oman, which prompted retaliatory US strikes and subsequent Iranian attacks on US military bases in the Gulf.
- This escalation has led to a standstill in shipping traffic, raising significant concerns for the global economy and the stability of oil supplies.
- A memorandum of understanding between the US and Iran had previously committed Tehran to ensuring safe passage for commercial vessels for 60 days and engaging in dialogue with Oman regarding the Strait's administration.
- Nato chief Mark Rutte and French President Emmanuel Macron have both expressed support for the US actions, stating that Iran's strikes violated the interim accord.
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