Disruption of shipping lanes, increased insurance costs, market uncertainty, spreading war risk and impact on regional economies are some of the prior topics that make the maritime world highly anxious.
Any military conflict in the Persian Gulf, particularly involving Iran, could lead to the disruption of shipping lanes. The Strait of Hormuz, a critical chokepoint through which a significant portion of the world's oil passes, could be particularly affected. Any disruption there could lead to delays in shipments, increased insurance costs, and potentially rerouting of vessels.
Israel's war cabinet met on Monday
Throughout Monday, Israel's war cabinet engaged in discussions regarding its potential response to Iran's weekend attack. The exact nature of Israel's response remains uncertain.
Speaking to journalists on Monday, Daniel Hagari, spokesperson for the Israel Defense Forces (IDF), emphasized the imperative for Tel Aviv to take all necessary measures to safeguard the nation, "at the time and in the manner chosen by Israel."
He highlighted the successful defense efforts, describing the Iranian attack as "thwarted through an ironclad defense campaign," which benefitted from an "unprecedented coalition" involving the UK, US, France, and other nations, effectively preventing the attack.
Army chief Herzi Halevi reiterated that Iran's actions would not go unanswered. Meanwhile, the office of Israeli Prime Minister Benjamin Netanyahu underscored the importance of continued international unity in countering Iranian aggression, which poses a threat to global peace.
US Secretary of Defense Lloyd Austin spoke to his Israeli counterpart Monday and “reaffirmed the strategic goal of regional stability,” according to a readout of the call.
As the secretary also reiterated “steadfast” US support for Israel’s defense, every step that escalates the tension including the USA is closely tracked by the maritime world.
Israel has carried out a strike inside Iran on Friday lastly, a US official tells CNN, in a move that threatens to push the region deeper into conflict.
