The Strait of Hormuz: A New Era of Protection Racket The US proposal to impose a 20% toll on cargo passing through the Strait of Hormuz has sent shockwaves throughout the oil markets.
Beneath the headlines, this move represents a significant shift in the geopolitics of the region. At first glance, Trump's proposal appears to be another iteration of his "America First" mantra.
However, scratch beneath the surface and you'll find a complex dynamic at play. The Strait of Hormuz has been a contentious issue for decades, with Iran claiming sovereignty over the waterway since 1979.