Iran’s threats to shipping through the Strait of Hormuz — in response to the U.S. and Israeli strikes on Iran that began on Feb. 28 — effectively closed the strait, sending economic shockwaves around the world. As part of negotiations between Tehran and Washington, Iran has eased restrictions, and shipping traffic has picked up in recent days — albeit well below pre-war levels.Whatever the outcome of negotiations, Iran has clearly demonstrated its ability to shut down the strait. It could happen again. That reality significantly increases incentives for many countries to reduce their reliance
Source: War on the Rocks — read the full report at the original publisher.