US intercepts 23 vessels, tankers turn around

The United States Central Command (CENTCOM) reports intercepting 23 Iran-linked vessels as part of its naval blockade of the Strait of Hormuz. In response to renewed warnings from Iran's Islamic Revolutionary Guard Corps (IRGC), LNG and other commercial tankers are turning around en masse in the waterway, with Bloomberg reporting vessels making 180-degree turns. This new escalation has reignited fears of stagflation for the global economy as the vital shipping channel faces renewed disruption.