BlockBeats News, March 11th, according to CNN citing two sources familiar with a US intelligence report, Iran has started placing mines in the Strait of Hormuz. The strait is one of the world’s most important energy transit routes, carrying about a fifth of global oil transport.
Sources said that the current mining scale is still relatively small, with dozens of mines laid in the past few days. However, the Islamic Revolutionary Guard Corps (IRGC) of Iran still retains about 80% to 90% of small boats and mine-laying vessels, theoretically capable of deploying hundreds of mines in a short time, along with dispersed mine-laying vessels, explosive-laden boats, and shore-based missile positions to block the strait.
US President Donald Trump warned in a social media post that if Iran mines the Strait of Hormuz and does not clear them immediately, it will face “unprecedented military consequences.” He also stated that the US has deployed a large amount of naval power in the region and has mine clearance capabilities.
US Secretary of Defense Mark Esper said that, at the President’s direction, US Central Command is targeting the relevant mine-laying ships to ensure safe passage.
Currently, uncertainty affects the transportation of about 15 million barrels per day of crude oil and about 4.5 million barrels per day of refined oil in the Persian Gulf, causing market concerns about supply disruptions. Following the news, international oil prices experienced significant volatility, fluctuating between $80 per barrel and $90 per barrel.
