Tag: #IranStraitClosure #StraitOfHormuz #MiddleEastTensions #GlobalEnergyCrisis #OilPrices #WorldTrade
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International Trade Is at Risk as Iran Threatens to Close the Strait of Hormuz
By threatening to block the Strait of Hormuz, a narrow but strategically significant waterway through which about 20% of the world’s oil passes daily, Iran has escalated the stakes in the continuing Middle East crisis in a daring and concerning move. Anxiety about this scenario has spread throughout the world, driving up oil prices and…