Since the US-Iran Memorandum of Understanding (MoU) signed on June 17, over 500 ships have passed through the Strait of Hormuz, a critical global energy corridor. However, renewed hostilities between the United States and Iran have brought shipping to a near-standstill, leaving around 6,000 seafarers stranded aboard hundreds of vessels and prompting Gulf countries to remain on high alert for further attacks.

The UN International Maritime Organization (IMO) Council Member States condemned Iran for its "continued threats" and alleged attacks against multiple Gulf States and their territorial waters. Several countries, including Bahrain, France, Germany, and Saudi Arabia, emphasized the importance of protecting vital shipping lanes, particularly in and around the Strait of Hormuz.

Iran, in turn, accused the United States and Israel of "armed interference with Iranian commercial vessels" and aggression. The IMO's Secretary-General Arsenio Dominguez advised that all transit through the Strait should be avoided until safety conditions are assured, noting that evacuations of stranded seafarers remain on hold for security reasons. To date, 136 ships and 2,900 seafarers have been evacuated according to IMO data.

Hostile exchanges over the past two days have resulted in 14 deaths and numerous injuries across five Iranian provinces, according to Iranian health authorities. The recent attacks on three merchant ships transiting the Strait on Tuesday caused a temporary spike in crude oil prices, which recovered to around $77 per barrel by Thursday—still above pre-war levels.

Before the conflict, approximately 130 commercial ships passed through the Strait daily, which carries about one-fifth of the world's oil and gas supplies. Despite the ongoing conflict, the heads of the International Energy Agency, International Monetary Fund, World Bank Group, and World Trade Organization noted that the global economy has remained broadly resilient, though some economies have experienced slower growth and increased inflation.

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