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Commentary: The Iran War Is Now All About the Future of Hormuz
Iran charges clearance fees for escorted ship transit through a corridor in the Strait of Hormuz, with some payments made in Chinese yuan, affecting 25% of global seaborne oil trade.
7 Articles
7 Articles
Commentary: The Iran war is now all about the future of Hormuz
With the US deploying a small ground force to the Persian Gulf and Iran legislating to turn the Strait of Hormuz into a toll booth, it seems the world is in for a longer conflict, says Marc Champion for Bloomberg Opinion.
Does the Iran war have a two to four-week deadline?
US Secretary of State Marco Rubio also warned that Iran may try to set up a toll for ships passing through the Strait of Hormuz and there are already some reports of ships paying millions for safe passage. It’s clear that markets today have not been reassured by today’s developments.
Iran, which controls and effectively blocks the Strait of Hormuz, is reported to have allowed ships from some countries to pass in exchange for tolls paid in yuan. Earlier reports suggested that Iran was refining a draft bill to collect tolls from ships wishing to pass through the Strait of Hormuz in exchange for providing safety, and it appears this has partially materialized.
(Seoul = Yonhap News) Reporter Kim Seung-wook = It has been determined that Iran is collecting tolls from some vessels while controlling the Strait of Hormuz. In particular, the U.S. dollar...
Iran is already charging a toll, in Yuan, for oil sold through Strait of Hormuz as American ground troops prepare to enter
Iran and the United States hardened their positions as a diplomatic push for a ceasefire in the Middle East war appeared to falter on Thursday.
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