The Risks of Iran’s Threat to Control the Strait of Hormuz
The New York Times • • nation
Key Points:
- Iran is attempting to formalize and monetize its control over the Strait of Hormuz by proposing to charge fees for passage through the vital waterway, which facilitates one-fifth of the world's oil and gas shipments.
- This proposal violates international maritime law that prohibits countries from charging for safe passage through international waterways, making its success unlikely according to analysts.
- The move is causing significant concern and uncertainty within the shipping industry, especially as vessels and crews have been stranded in the Persian Gulf for nearly three months amid ongoing conflict.
- Iran’s actions highlight the potential for lasting geopolitical and economic repercussions, as control over the strategic Strait of Hormuz could continue to influence global energy traffic even after the war ends.