Frankfurt (Germany), 5 March (LaPresse) – According to the Lloyd's Market Association, there are approximately 1,000 ships worth £25 billion in or near the Persian Gulf. In particular, trade through the Persian Gulf has been significantly disrupted due to the war in Iran, especially after Iran declared its intention to block the Strait of Hormuz and threatened to burn any ship that attempted to cross it. According to Sheila Cameron, CEO of the Lloyd's Market Association, Sky News reports that there are approximately 1,000 vessels in the Gulf and surrounding waters, half of which are oil tankers or gas tankers, with an estimated cargo value of over $25 billion. At least 40 vessels have passed through the Strait of Hormuz since Sunday, she added. This is a significant drop from the 116 vessels reported on Saturday, when the first Israeli-American attacks on Iran were launched.
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