As the United States and Iran agreed to a two-week cease-fire, the Ministry of Trade, Industry and Resources said it is checking whether passage through the Strait of Hormuz is currently possible.
An official at the Ministry of Trade and Industry (MOTI) said on Apr. 8 that there are a total of seven oil tankers related to domestic refineries in the Strait of Hormuz, with four flagged carriers, adding that the cargo amounts to about 14 million barrels and there are no liquefied natural gas (LNG) carriers. The official added that, in coordination with the Ministry of Foreign Affairs and the Ministry of Oceans and Fisheries, efforts will be made to ensure the prompt and safe passage of our oil tankers.
Regarding the impact of the cease-fire on the third oil price cap to be announced from 12 a.m. on the 10th, an official at the Ministry of Trade and Industry (MOTI) said it is under comprehensive review.