Iran has established the Persian Gulf Strait Authority to regulate maritime traffic through the Strait of Hormuz, one of the world’s most critical oil shipping routes.
Tensions in the Middle East escalated on Saturday as Iran announced the closure of the Strait of Hormuz, accusing the United States of violating prior agreements amid a continuing naval blockade.
The Strait of Hormuz is not just a narrow stretch of water on the map; it is the pressure valve of the global economy. When it flows, markets breathe. When it is threatened, the world tightens. In the past month, following the United States and Israel’s strikes on Iran, that valve has been squeezed harder than at any time in recent history, revealing just how dangerously dependent the modern world remains on a single maritime corridor.
