The United States military has begun intercepting ships transiting through the Strait of Hormuz, state-run CCTV reported, marking a significant escalation in the crisis in the Persian Gulf.
The interceptions come just days after the Trump administration announced plans to form a "Multinational Hormuz Alliance" to reopen the strait, which Iran uses to selectively block oil exports from Gulf states while allowing tankers carrying Iranian crude to pass freely.
The Strait of Hormuz is one of the most critical energy choke points in the world, with about 20% of global oil supply passing through this waterway. Any prolonged disruption of maritime traffic has significant implications for global oil prices and broader risk asset markets, including cryptocurrency.
The interceptions come just days after the Trump administration announced plans to form a "Multinational Hormuz Alliance" to reopen the strait, which Iran uses to selectively block oil exports from Gulf states while allowing tankers carrying Iranian crude to pass freely.
The Strait of Hormuz is one of the most critical energy choke points in the world, with about 20% of global oil supply passing through this waterway. Any prolonged disruption of maritime traffic has significant implications for global oil prices and broader risk asset markets, including cryptocurrency.
