Iran Allows Malaysian Vessels to Transit Strait of Hormuz Amid Regional Tensions
An oil tanker chartered by Petco, a unit of Malaysia's state energy firm Petronas, successfully passed through the Strait of Hormuz, carrying Iraqi crude. This transit follows Iran's decision to permit Malaysian vessels to navigate the strait without restrictions, despite recent tensions in the region. The decision comes after discussions between Malaysia's Prime Minister Anwar Ibrahim and Iranian officials. Iran had previously closed the strait in response to U.S. and Israeli airstrikes, which began in late February. However, Iran has since allowed passage for vessels not linked to the U.S. or Israel. The strait is a critical maritime corridor, handling about a fifth of global oil and LNG flows. Malaysia's foreign ministry confirmed that seven ships linked to Malaysian companies, including Petronas, were cleared to transit the waterway. 
