The global economy is facing uncertainty as Iran has effectively closed the Strait of Hormuz amid ongoing conflict with Israel and the United States. This strait is crucial for the passage of approximately one-fifth of the world's oil and gas. While some ships have managed to navigate the strait, they have done so under Iran's conditions, reportedly paying tolls for safe passage. The situation remains tense as the world awaits the reopening of this vital waterway.

The United Nations has begun evacuating approximately 11,000 sailors who have been stranded in the Strait of Hormuz since the onset of the US-Israel war on Iran on February 28, which led to Tehran effectively closing off this crucial maritime route.

The UN's maritime agency has initiated an operation to evacuate over 11,000 sailors who are stranded in the Strait of Hormuz. This effort aims to address the critical situation faced by these individuals in the strategically important waterway.

Ship traffic in the Strait of Hormuz has increased following an interim deal between Iran and the U.S. aimed at ending a conflict that impacted global oil supplies. However, uncertainties regarding control of the waterway and potential tolls for vessels may complicate negotiations, according to AP.

Traffic through the Strait of Hormuz has increased following a recent deal between the US and Iran aimed at ending the ongoing conflict. On Saturday, 42 ships transited the waterway, indicating a significant rise in maritime activity in the region since the agreement was reached.

A Liberian oil tanker, the Stoic Warrior, successfully navigated the Strait of Hormuz on Thursday, despite threats to shipping from Iran's Revolutionary Guard. The tanker utilized a new route near Oman’s shore, which has been endorsed by a U.N. maritime agency. This incident occurs amid escalating tensions between Iran and other nations in the region.