First Attack Just 8 Days After Trump MOU Signing
US and Iran Refrain From Official Statements... Tensions Eased Through De-escalation Efforts

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Shinhwa Yonhap News

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Following reports that a cargo ship passing through the Strait of Hormuz was attacked by an unmanned aerial vehicle (drone), vessels have once again become stranded in the strait. International oil prices, which had fallen for three consecutive trading sessions amid expectations for oil supply stabilization, rebounded. Both the United States and Iran have refrained from making official statements on the incident and agreed to establish a direct communication channel between their militaries in an effort to de-escalate tensions. However, just eight days after the two countries signed a memorandum of understanding (MOU) on ending hostilities, the attack occurred, casting uncertainty over the prospects for follow-up negotiations.


On June 25 (local time), the United Kingdom Maritime Trade Operations (UKMTO) announced that it had received a report that a cargo ship passing through the southern part of the Strait of Hormuz off the coast of Oman was struck on its starboard side by a projectile. The vessel in question was identified as the Singapore-flagged container ship Ever Lovely. While the bridge and steering room sustained some damage, there were no reported casualties or environmental damage such as oil spills. This is the first time a cargo ship has been attacked in the Strait of Hormuz since both U.S. and Iranian leaders signed the MOU on June 17.


U.S. authorities suspect that the Islamic Revolutionary Guard Corps (IRGC) of Iran was behind the attack. However, the White House has not released an official statement. According to Bloomberg News, citing a White House official, "U.S. authorities are investigating the party responsible for the attack," and are "trying to determine whether it was ordered by senior IRGC leadership or carried out independently by a lower-ranking officer."


Iran has not claimed responsibility for the attack and has avoided commenting on the incident. However, it has warned that only shipping lanes designated by the Iranian government should be used in the Strait of Hormuz. The Persian Gulf Strait Authority (PGSA), which manages the Strait of Hormuz for the Iranian government, stated via the social media platform X (formerly Twitter), "The safety of ships transiting routes outside the designated zones cannot be guaranteed and such vessels are not eligible for insurance coverage or related compensation." The authority added, "The shipowner, vessel operator, and captain bear full responsibility for any consequences resulting from the use of unauthorized routes."


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On the same day, the United States and Iran agreed to establish a direct communication channel between their militaries to prevent accidental clashes. U.S. Vice President J.D. Vance explained in an interview with the British outlet UnHerd, "Both U.S. Central Command (CENTCOM) and the Iranian Revolutionary Guard Corps (IRGC) have agreed to each send an official to Doha, Qatar to facilitate direct communication."


Nevertheless, concerns about a renewed clash between the United States and Iran have grown, leading to a halt in efforts to reopen the Strait of Hormuz. The International Maritime Organization (IMO) has temporarily suspended its ongoing evacuation plan for ships and crew in the strait. IMO Secretary-General Arsenio Dominguez said in a statement, "We have been notified about the cargo ship attack off the coast of Oman. The vessel was not operating under the IMO's evacuation plan," adding, "The evacuation plan will be suspended until additional safety measures can be ensured to guarantee navigational safety."


As expectations for normalized oil supply were dashed, international oil prices, which had fallen for three consecutive trading sessions, rebounded. On this day, August West Texas Intermediate (WTI) crude rose 2.25% from the previous session to $71.92 per barrel, while August Brent crude gained 2.06% to $75.26 per barrel.



There are also concerns that this cargo ship attack may negatively impact future follow-up negotiations. The Wall Street Journal (WSJ) pointed out, "U.S. authorities believe, considering the circumstances in which the drone approached the vessel from the west just before the collision, that this was not an accidental attack but a deliberate one," adding, "The viability of the MOU signed last week between the U.S. and Iran is now facing its first real test."


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