After the attacks by the United States and Israel, a warning was broadcast over maritime radio on Saturday night advising ships to stop sailing through the Strait of Hormuz.
The announcement has created uncertainty in the import-export trade that depends heavily on the Middle East. However, Iran’s Foreign Minister Abbas Araghchi told Al Jazeera on Sunday that there are currently no plans to close the Strait of Hormuz.
Businessmen and energy sector insiders say that even if the strait is closed, there will be no immediate fuel shortage. However, if the situation continues for a longer period, pressure on supply chains may increase.
Bangladesh trades with seven countries through the Strait of Hormuz: Iraq, Iran, Qatar, Kuwait, Bahrain, the United Arab Emirates and Saudi Arabia. Due to the ongoing conflict, transportation risks have also increased through the Gulf of Oman, which is located next to the strait.
Ships traveling from the Persian Gulf pass through the Strait of Hormuz and then the Gulf of Oman, the Arabian Sea, the Indian Ocean and the Bay of Bengal before reaching Bangladesh.