Strait of Hormuz | The Abay Times

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US Seizes Iranian Ship as Fragile Ceasefire Talks Resume, Threatening Red Sea Trade Routes

US forces seized an Iranian-flagged cargo ship near the Strait of Hormuz on Sunday as diplomatic efforts to extend a fragile ceasefire intensified, escalating tensions in a maritime corridor critic...

Apr 19 · 3 min read

Opinion

Ethiopia's Reform Showcase Has a Fuel-Shaped Hole in It

The Invest in Ethiopia Forum celebrates real macroeconomic gains — but a single strait 2,000 kilometres away can undo all of them overnight.

Mar 26 · 3 min read

Business

Ethiopia Introduces Fuel Conservation Measures as Hormuz Crisis Drives Oil Above $100

Ethiopia's federal government has introduced fuel conservation measures as the ongoing Iran conflict disrupts oil transit through the Strait of Hormuz, pushing global crude prices above $100 per ba...

Mar 24 · 1 min read

World

IEA Releases Record 400 Million Barrels from Strategic Reserves as Oil Crisis Deepens Ethiopia's Import Burden

The International Energy Agency announced the release of 400 million barrels from strategic oil reserves on Thursday, marking the largest coordinated release in the agency's history as the US-Israe...

Mar 13 · 2 min read

Business

Oil Prices Surge Above $100 as Hormuz Crisis Deepens Ethiopia's $2 Billion Fuel Import Challenge

The price surge follows the actual closure of the Strait of Hormuz by Iranian forces, disrupting the passage of roughly 20% of global oil through the critical energy chokepoint.

Mar 12 · 2 min read

Business

EPSE CEO Reportedly Arrested as Ethiopia Expands Fuel Subsidies Amid Hormuz Crisis

Ethiopian Petroleum Supply Enterprise (EPSE) CEO Esmelealem Mihretu was reportedly arrested by Federal Police on Monday March 10, according to multiple local media outlets, as the government simult...

Mar 12 · 1 min read

Business

Iran Threatens Strait of Hormuz Blockade as Oil Prices Surge, Raising Fuel Import Costs for Ethiopia

Iran's Islamic Revolutionary Guard Corps warned that "not one litre of oil" will pass through the Strait of Hormuz, threatening global energy supplies as crude prices surge toward $200 per barrel, ...

Mar 11 · 2 min read