Iran Approves First Qatari LNG Transit of Hormuz Since War

A Qatari LNG tanker, Al Kharaitiyat, was sailing toward the Strait of Hormuz on May 9 in what would mark the first transit of a Qatari vessel through the strategic waterway since the war with Iran began, according to LSEG shipping data. The tanker departed Qatar's Ras Laffan facility en route to Port Qasim in Pakistan, with sources telling Reuters the passage was approved by Iran to build confidence with Qatar and Pakistan, both mediators in the conflict. The vessel, managed by Nakilat Shipping Qatar Ltd and sailing under the Marshall Islands flag, has a cargo capacity of 211,986 cubic metres. The transit comes as the United States awaits Iran's response to peace proposals aimed at ending more than two months of fighting, with US Secretary of State Marco Rubio stating on May 8 that a response was expected within hours. Meanwhile, the UAE came under renewed attack on May 8, with its air defences engaging two ballistic missiles and three drones from Iran that wounded three people. The State Department said Rubio met with Qatari Prime Minister Mohammed bin Abdulrahman al-Thani in Miami to discuss deterrence and regional stability, though the statement did not specifically mention Iran. Before the war began with US-Israeli airstrikes on February 28, one-fifth of the world's oil supply passed through the Strait of Hormuz. Iran's attacks have knocked out 17 percent of Qatar's LNG export capacity, with repairs expected to sideline 12.8 million tons per year of the fuel for three to five years. Qatar is the world's second-largest LNG exporter. Britain announced it was deploying a warship to the Middle East on May 9 to prepare for a multinational mission to ensure safe transit through the strait once the situation stabilizes, while the US Treasury imposed sanctions on May 8 against individuals and companies in China and Hong Kong for aiding Iran's military in acquiring materials for Shahed drones. With President Donald Trump set to visit China next week, pressure is mounting to resolve the conflict that has thrown energy markets into turmoil and posed a growing threat to the global economy.