Oil tankers hit in Iraq as Tehran sets three conditions for peace

Iraq has suspended operations at all of its oil terminals after attacks on two crude oil tankers near the southern port of Basra, officials have confirmed, in a development that heightens concerns about global energy supplies amid the widening Middle East conflict.

Bloomberg reported that Farhan al-Fartousi, director-general of Iraq’s General Company for Ports, said oil terminal activities had been completely halted following the incident. Commercial ports across the country remain open and are continuing normal operations.

The decision came after explosive-laden boats targeted two tankers that had previously loaded crude at Umm Qasr port in Basra province. Iraqi authorities described the strikes as acts of sabotage carried out within the country’s territorial waters.

Iraq’s State Organization for Marketing of Oil (SOMO) identified the vessels as the Marshall Islands-flagged Safesea Vishnu and the Malta-flagged Zefyros. The ships were reportedly involved in ship-to-ship oil transfer operations when the attack occurred.

Lieutenant General Saad Maan said the vessels were subjected to a “cowardly act of sabotage”, adding that investigators were still trying to determine whether the strike was carried out by a drone, missile or a seaborne explosive device.

Al Jazeera quoted port authorities to say that emergency crews recovered one body from the scene and rescued 38 people following the attack.

The incident comes as tensions across the Middle East escalate sharply after joint US and Israeli air strikes on Iran nearly two weeks ago triggered a broader regional conflict. The fighting has already caused heavy casualties and disrupted shipping and energy infrastructure across the region.

Iran has stepped up attacks on oil and transport facilities, warning that global oil prices could surge to as much as $200 a barrel if hostilities continue.

The escalating violence has rattled international energy markets and raised fears of a supply shock comparable to the oil crises of the 1970s. Governments are reportedly preparing for a large-scale release of strategic petroleum reserves in an attempt to stabilise prices.

Meanwhile, Iranian President Masoud Pezeshkian has set out three conditions for ending the conflict with the United States and Israel:

• Recognition of Iran’s legitimate rights: Formal international acknowledgement of Iran’s sovereign and legal rights.

• Payment of reparations: Compensation for damage and destruction caused during the war.

• Binding international guarantees: Assurances to prevent any future military aggression against Iran.

The proposals were reportedly discussed in conversations with leaders from Russia and Pakistan as diplomatic efforts to de-escalate the conflict continue.

For now, however, the shutdown of Iraq’s oil export terminals underscores the growing risks to global energy supplies as the conflict spreads across the region.