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Iran's Revolutionary Guards seize oil tankers and restrict Strait of Hormuz passage
Feb 28, 202628 sources
org:irgctopic:oiltopic:gastopic:seizureplace:strait of hormuzplace:gulf
Story Timeline
Feb 28, 2026Oil prices rise and OPEC considers increasing production after US attack on Iran15 sources
Feb 28, 2026Iran's Revolutionary Guards seize oil tankers and restrict Strait of Hormuz passage28 sources
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Summary
Iran's Islamic Revolutionary Guard Corps Navy seized two foreign-crewed oil tankers in the Persian Gulf, accusing them of smuggling fuel. The IRGC also told ships that passage through the Strait of Hormuz, a critical route for global oil exports, was 'not allowed'.
Major oil and gas companies and traders suspended shipments through the Strait of Hormuz following the announcements. The events have thrown the oil market into what some analysts call its biggest crisis in decades, with traders rushing to lock in prices due to the geopolitical risk.