Shipping Group Says US, Iran Ship Seizures Violate International Law: Report

• A global shipping body has denounced the United States and Iran for the seizure of commercial vessels.
• The warning comes as US envoys Steve Witkoff and Jared Kushner arrive in Islamabad for indirect talks with Iran, with Pakistan as a mediator.
• Iran's Strait of Hormuz closure, demands for its nuclear program, sanctions relief, and rising maritime tensions affecting global trade remain unresolved.

As tensions between the two countries remain high ahead of indirect talks in Pakistan, the tit-for-tat seizure of commercial vessels by the United States and Iran has been deemed illegal under international law on Saturday.

John Stawpert, Principal Director Marine at the International Chamber of Shipping (ICS), has condemned the actions and called for the immediate release of detained crews, telling that seafarers should be allowed to operate “freely and without persecution”.

“All these people are doing is transporting trade. And really, we can’t have a situation where ships are being seized, ultimately for political ends, to prove a political point,” Stawpert said. “These are innocent seafarers, and they should be allowed to go about their jobs without fear of, essentially, imprisonment.”

Steve Witkoff And Jared Kushner In Islamabad

The warning comes as US envoys Steve Witkoff and Jared Kushner travel to Islamabad for talks that include Iran, though Tehran has denied any direct meeting with US officials, saying its positions will be conveyed via Pakistani intermediaries.

According to the report, Iran's Foreign Minister, Abbas Araghchi, arrived in the capital on a regional tour, and Pakistani mediators are “cautiously optimistic.” The content of the talks, however, remains under media blackout, as key issues remain unresolved, including Iran’s closure of the Strait of Hormuz, a vital global shipping route. 

Last week, Iran described the US Navy’s blockade of Iranian ports as " piracy " and shut the waterway.

The U.S. Global Sea to Sky Cargo ETF (SEA) rose 0.48% to about $17.23 at Friday’s close, extending gains slightly in after-hours trading. The ETF showed a steady upward trend during the session. On Stocktwits, retail sentiment around SEA stock remained in the ‘extremely bullish’ zone, with ‘extremely high’ chatter levels over the past day.

Additional issues include Iran's ballistic missile program, sanctions relief, frozen assets, and potential war reparations. According to former US President Donald Trump, any agreement must necessitate Iran's surrender of enriched uranium and the reopening of the Strait. 

Concerns within the global shipping industry have been exacerbated by the escalation at sea, which includes reciprocal ship seizures. The industry cautions that the safety of civilian crews and international trade may be at risk due to ongoing disruptions.

Growing Military Dissent

These developments come on the heels of Mike Prysner, Executive Director of the Center on Conscience & War (CCW) in Washington, a former Iraq war veteran, reportedly saying that while the U.S. hasn't had a draft since 1973, a recent measure in the defense budget for the U.S. could automatically register males aged 18-25 for the Selective Service. Now, military veterans warn current service members against repeating past mistakes seen during the Vietnam War in the current Iran-US conflict.

The Global X Defense Tech ETF (SHLD) closed lower on the session, falling 1.83% to around $67.57, though it recovered modestly in after-hours trading. The ARK Space & Defense ETF (ARKX) also edged lower on Friday, slipping 0.45% to approximately $32.97. On Stocktwits, retail sentiment around SHLD stock and ARKX stock remained in the ‘bullish’ zone while chatter around them remained at ‘high’ levels over the past day. 

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