According to Business Insider, Iran's seizure of an oil tanker in the Gulf of Oman has escalated geopolitical tensions. This situation has particularly impacted the shipping industry in the Middle East. Many analysts interpret Iran's actions as a response to last year's conflict over sanctions, during which the US seized an Iranian oil tanker. Notably, the St Nikolas tanker was seized in retaliation for a 2022 operation by the US Department of Justice. During that operation, a vessel then known as Suez Rajan, carrying 980,000 barrels of oil, was captured. According to Iranian authorities, the tanker was confiscated by a court decision in response to the US government's theft of Iranian oil in 2023. Earlier, analysts and media news agencies highlighted the escalating conflict in the Red Sea. Currently, Houthi militants continue to attack ships traversing this major trade route. Preliminary assessments suggest that the increase in attacks on cargo ships may lead to another surge in global inflation due to rising costs for containers and ship insurance.
