IRGC denies US claims of open Strait of Hormuz amid rising tensions

The Navy of the Islamic Revolutionary Guard Corps (IRGC) has declared U.S. claims about the Strait of Hormuz being open as false, according to a statement reported by Iran International. This assertion comes amid ongoing maritime tensions between Iran and the United States in the strategic waterway. Recent reports indicate a significant decrease in shipping traffic through the strait, with international sources citing temporary halts and warnings. The IRGC’s statement underscores the high level of tension and ongoing psychological and operational warfare over the freedom of passage in this critical energy chokepoint. Key Takeaways The IRGC’s statement appears to challenge U.S. claims, suggesting increased tensions regarding the Strait of Hormuz. Current market pricing suggests a reduced likelihood of a US-Iran agreement on Hormuz traffic by the August 31 deadline. Observed decreases in market support for an agreement are consistent with escalating rhetoric and reduced shipping activity. What to Watch Watch for any developments or statements from key actors such as the U.S. Central Command and Iran’s Foreign Ministry. Reports of renewed negotiations or a joint statement between the ...