Iranian forces have seized two ships in the Strait of Hormuz, escalating a standoff with the United States over control of the critical waterway. The Panama-flagged MSC Francesca and Liberia-flagged Epaminondas were stopped by the Islamic Revolutionary Guard Corps (IRGC) and brought to shore. Greece confirmed an attack on a Greek-operated cargo vessel, while a UK-based maritime security monitor reported that an Iranian gunboat fired on a ship, causing heavy damage to its bridge.
Mohammad Bagher Ghalibaf, the speaker of the Iranian parliament, stated that reopening the strait would be “impossible” while the US and Israel commit “flagrant” breaches of the ceasefire. He cited the US naval blockade, describing it as “the hostage-taking of the world’s economy.” Iran’s actions come after the US seized an Iranian cargo vessel and boarded an oil tanker in the Indian Ocean.
The standoff has triggered a global economic crisis, with about 20% of the world’s oil and liquefied natural gas normally passing through the strait. Germany halved its 2026 growth forecast to 0.5%, and Greece announced €500 million in extra aid for households and farmers. The US president, Donald Trump, extended a ceasefire but also threatened violence, while the White House said Iran was “losing $500m a day” due to the blockade.
The International Maritime Organization reported that around 20,000 seafarers and 2,000 ships are stranded in the Gulf. Pakistan attempted to mediate talks between Iran and the US, but a planned meeting in Islamabad did not take place. Iran said it received new proposals from Washington but indicated a wide gap remained between the two sides.
