Among the 35 vessels claimed to have passed through the strait in the past 24 hours, it includes oil tankers, container ships, and other commercial vessels. That at least according to the Iran state media. While the headline may seem positive, just be wary that it must not be taken at face value.
Earlier in the week, Iran claimed that there were 26 vessels that moved through the strait on Monday. However, independent analytics show that only around 10 ships crossed the waterway during that period. They did include Chinese vessels and a South Korean oil tanker but otherwise, traffic privileges remain mostly tied to smaller cargo ships and container ships.
As such, I’d wait on actual shipping data to confirm the claims provided by Iran here. Otherwise, this seems to be mostly a ruse to try and score a con against the US that they are actually loosening restrictions on passage through the Strait of Hormuz. I guess all of this is in part a ploy to back up their peace proposal with some numbers.
We’ll have to see if the US bites though. But considering the circumstances, I wouldn’t be surprised if the US just accepts whatever it is just so that both sides can work out a framework agreement.
Again as mentioned earlier, a framework agreement doesn’t mean a full deal and that the war is over. It is merely the next step for both sides to discuss nuclear arrangements, which remain the biggest sticking point at the moment.
So while the story put out here might look positive, the reality of the situation on the ground remains far from it. That unless it is also backed by actual shipping data and movement – not just numbers plucked out of thin air.
This article was written by Justin Low at investinglive.com.
