The Strait of Hormuz has become a major obstacle to global oil shipments, with rising global oil prices and threats to global economic stability. Of the handful of tankers crossing the strait, around half are carrying sanctioned oil from Iran, Russia, or Venezuela, according to Lloyd’s List Intelligence. The United Kingdom Maritime Trade Organization reported that a cargo vessel was hit by an unknown projectile, causing a fire and evacuating the crew. Another bulk carrier was also hit by a projectile, with the crew reported safe and well. Fears that Iran could deploy its fleet of minelaying vessels to impass the crossing, potentially lasting long after the conflict ends. The threats to oil tankers are also an "ecological ticking time bomb" according to Greenpeace Germany. Insurance companies often trigger standard war-risk cancellation clauses when war breaks out, allowing insurers to withdraw coverage when an area becomes an active conflict zone.