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Strait of Hormuz: Trade Bottleneck Persists

Published 1 week, 4 days ago
Description

Despite a ceasefire between the U.S. and Iran, the Strait of Hormuz remains a bottleneck for global trade. Experts predict it will take weeks to months to clear the backlog of ships, as Iran hasnt yet outlined safe passage rules. The fear of attacks and uncertainty over payment terms is keeping ships at bay, while the EU prepares an escort mission for ships once the situation stabilizes.

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