US Navy Clears Iranian Mines in Strait of Hormuz Amid US-Iran Diplomatic Row

The U.S. Navy has deployed two destroyers into the Strait of Hormuz to clear Iranian mines, a move that has sparked concerns about global oil supplies and cryptocurrency markets. The operation follows the collapse of US-Iran peace talks in Islamabad, which failed to reach an agreement on Iran's nuclear program.

According to reports, the U.S. Navy has begun clearing out the Strait, with all 28 of Iran's mine-laying boats reportedly destroyed. However, it remains unclear whether this will lead to a fully open waterway or if Iran will respond with further obstruction.

The Strait of Hormuz carries approximately 20% of the world's crude oil supply, and its disruption has significant implications for global oil markets. The International Maritime Organization estimates that around 2,000 ships remain stranded in the Persian Gulf along with 20,000 seafarers.