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With one fifth of the world's oil pbading through the Strait of Hormuz, the shipping industry considers the narrow channel as one of the most important trade routes in the world. Following Iran's detention of a British oil tanker last Thursday, one of the senior maritime intelligence officials claimed that shipping companies would be reluctant to use British-flagged ships to transport their ships. merchandise. Philip Diacon, who heads Dryad Global, said his international clients had already begun talks with China to avoid being caught up in regional tensions.
He said: "This has obviously taken, to some extent, the UK by surprise.
"The marine industry was not really prepared for that.
"It is usually British-flagged vessels, United States-flagged vessels and Saudi interests that are most likely to be targeted.
"We are starting to talk about switching to Chinese-flagged vessels."
With the warm relations between Beijing and Tehran in recent years, companies can be fairly confident knowing that Tehran will let Chinese ships operate in the Strait.
This will be a huge diplomatic blow for Westminster, in a climate of general mistrust of giving up more geopolitical ground in Beijing.
China, more involved in the Gulf region – joining Russia – could tip the scales in favor of Iran.
At the same time, Foreign Minister Jeremy Hunt yesterday called for the creation of a joint European working group to protect British ships in the waters.
"It is with heavy hearts that we announce this increased international presence in the Gulf because our diplomacy has focused on reducing tensions in the hope that such changes would not be necessary. "
A powerful Royal Navy Type 45 destroyer is also en route to the Persian Gulf as Britain strengthens its military deterrent in the region – but Mr. Diacon has suggested that shipping companies may not want to be not yet take the risk.
Iran's seizure of the British tanker occurred as a result of the arrest of its own tanker – which, according to Britain, was heading for Syria in violation of sanctions imposed by the United States. EU -.
Iran's Foreign Minister Javad Zarif attempted yesterday to ease tensions between Britain and Tehran in preparation for the post of prime minister.
"It is very important that Boris Johnson, when he enters 10 Downing Street, understands that Iran is not looking for confrontation.
"Iran wants normal relations based on mutual respect.
"Everyone understands that triggering a conflict can be easy, but that it would be impossible to stop it."
The Strait of Hormuz has been at the center of tensions in recent months, with Iran being accused of attacking two tankers on different occasions in May and June.
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