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Fuelcast: Iran continues to control the Strait
Description
The US struck Iran over the weekend following Iran’s drone attack on a cargo ship in the Strait of Hormuz late last week. Ebrahim Azizi, head of the Iranian parliament’s national security commission, responded to US President Donald Trump on social media saying, “the Strait of Hormuz is governed by Iran, so: Respect the rules” and do “not mistake control for escalation.”
Iran is effectively controlling the Strait of Hormuz by targeting shipping insurance viability, pressuring vessels to seek approval from its newly established Persian Gulf Strait Authority (PGSA).
Does this mark a global shift in terms of how passage through the Strait is governed? What will the next move be from the US?
Carrington Clarke and Alan Kohler help you keep on top of the numbers behind the ongoing energy crisis on Fuelcast on ABC Business Daily.
Read Alan's latest analysis here.
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