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Iran tightens grip on Strait of Hormuz
Yahoo • • general
Key Points:
- The Strait of Hormuz, once a busy maritime freeway with two-mile-wide lanes, facilitated the daily transit of a fifth of the world's oil and LNG, along with essential goods, primarily through Oman's territorial waters.
- The original traffic scheme, jointly proposed by Iran and Oman and adopted by the UN in 1968, is now disrupted as ships avoid the route due to Iranian mines, opting instead for temporary corridors near the Iranian and Omani coasts.
- Despite predictions that pipelines and relocated refineries might reduce the strait's importance, The Economist argues that rerouting trade is complex and Iran's strategic influence over Hormuz is likely to persist beyond its conflict with the US.
- A new maritime route is expected to be established soon following an anticipated agreement between Tehran and Muscat, potentially reshaping navigation through the strait.
