A free and open Strait of Hormuz can’t be left to chance
A coalition of countries could help protect freedom of navigation and reduce the risk of future disruptions.
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The attack on Iran, the Iranian response to block the strait, and the US blockade showed how vulnerable Hormuz is to closure and the use of coercion.
PHOTO: REUTERS
Charles E. Morrison
The world breathed a huge sigh of relief following recent reports that an interim Iran-US understanding may reopen the Strait of Hormuz, a critical international waterway for international trade in petroleum and its derivatives, including fertilisers.
The “double blockades” by the US and Iran reduced Persian Gulf exports to a trickle and dramatically raised oil prices across the world. This economic fallout has been damaging, particularly for countries without deep pockets or large stored petroleum reserves. One, the Philippines, declared a national emergency.
