Strait of Hormuz Tensions Freeze Global Commerce in Suspended Animation The latest round of talks between Iran and Oman has yielded little progress on a temporary arrangement for shipping through the Strait of Hormuz.
This critical waterway is where a fifth of global oil exports pass, making it a linchpin of international trade.
The Strait's strategic importance cannot be overstated: for decades, it has been the lifeblood of international trade, allowing tankers to navigate between the Persian Gulf and the Arabian Sea with relative ease.