Baku: Amid escalating tensions in the Middle East, Iran's blockade of the Strait of Hormuz has not affected the activities of Azerbaijan Caspian Shipping Company (ASCO), part of AZCON Holding, ASCO said in response to an inquiry from APA-Economics. ASCO noted that since the company has no vessels operating in the Strait of Hormuz area, the situation has not impacted its operations.

According to Azeri-Press News Agency, ASCO emphasized, 'We do not have any vessels in that area.' The company clarified that its operations remain unaffected by the blockade due to the absence of its vessels in the strategically significant maritime zone.

The Strait of Hormuz is a critical maritime route between the Persian Gulf and the Gulf of Oman, with a substantial portion of the world's oil and liquefied natural gas supplies traversing this passage. Since the end of February 2026, escalating tensions in the region and military actions by the United States and Israel targeting Iran have led Tehran to restrict the passage of ships, effectively suspending trade transportation through the strait.

These developments have resulted in significant disruptions in vessel movement, increased insurance tariffs for ships, and a surge in global oil and gas prices due to concerns over energy resource supplies.