Iranian forces have seized two commercial vessels in the Strait of Hormuz, escalating a standoff with the United States that has shut the critical waterway and deepened a global economic crisis. The Panama-flagged MSC Francesca and Liberia-flagged Epaminondas were stopped by the Islamic Revolutionary Guard Corps (IRGC), which accused them of attempting to exit the strait covertly.
Mohammad Bagher Ghalibaf, the Iranian parliament speaker and lead negotiator, stated on Wednesday that reopening the strait would be “impossible” while the US and Israel commit “flagrant” ceasefire breaches, including the US naval blockade. He wrote on X that the US and Israel “did not achieve their goals through military aggression, nor will they through bullying”.
The seizures mark the first Iranian capture of ships since the conflict began on 28 February, following US seizures of an Iranian cargo vessel and oil tanker. Hours after threatening violence, US President Donald Trump unilaterally extended a ceasefire, but the White House press secretary said Trump was “satisfied” with the blockade, adding that Iran is losing $500m a day.
The closure of the strait – through which about 20% of the world’s oil and gas once passed – has caused fuel price hikes and inflation. Germany halved its 2026 growth forecast to 0.5%, while Greece announced €500m in extra aid. Greek Prime Minister Kyriakos Mitsotakis said the economy is holding up but highlighted rising costs for fuel and household expenses.
About 20,000 seafarers and 2,000 ships are stranded in the Gulf, according to the International Maritime Organization, which appealed for help. Pakistan’s mediation efforts to bring Iran and the US to talks failed after Iran did not attend and the US delegation never left Washington.
