Iran Maintains Chokehold on Strait of Hormuz as UK Says Global Economy Is Being Held Hostage

02/04/2026

Iran Maintains Chokehold on Strait of Hormuz as UK Says Global Economy Is Being Held Hostage

TEHRAN, Apr 2: Shipping through the Strait of Hormuz has fallen sharply, with vessel movements down by around 94% compared to a year ago, according to data from Lloyd’s List Intelligence. The reduced traffic is largely attributed to ongoing regional tensions, with the remaining tanker movement reportedly dominated by sanctions-evading vessels carrying Iranian oil.

Reports indicate that Iran has implemented a screening mechanism requiring ships to divert from the main shipping lane and reroute north around Larak Island. Vessel operators are also being instructed to coordinate with approved intermediaries linked to Iran’s Islamic Revolutionary Guards Corps and provide detailed information on ownership, cargo, and crew prior to passage. While the system has been described by some as a “toll booth” arrangement, only a small number of ships are confirmed to have made payments, with others believed to have passed following diplomatic interventions.

Meanwhile, international discussions involving more than 40 countries focused on restoring safe navigation through the strait. UK Foreign Secretary Yvette Cooper said the situation demonstrated “international determination” to reopen the route, adding that Iran had “hijacked an international shipping route to hold the global economy hostage.”

The talks are focused on diplomatic and political solutions, along with possible post-conflict maritime security measures such as mine clearance and protection for commercial shipping. The United States did not participate in the meeting, following indications that it views securing the waterway as not its responsibility.