The narrow waterway through which a fifth of the world’s oil and liquefied natural gas (LNG) ordinarily passes has emerged as the Islamic Republic’s most potent weapon. And it is now seeking to turn into both a source of potentially billions of dollars in annual revenue and a pressure point on the global economy. CNN reported.
Iran has long threatened to close the strait in case of an attack, but few expected it to follow through or for it to prove so effective in disrupting global trade flows. The scale of the impact appears to have expanded Tehran’s ambitions, with the new demands suggesting it is seeking to turn that leverage into something more durable.
Shipping through the chokepoint has ground to a near halt amid Iranian attacks, sending global energy markets into turmoil and forcing countries far beyond the Persian Gulf to take emergency measures to secure fuel supplies.
