The Strait of Hormuz is now at the centre of Iranian and US calculus
Summary
Two tankers were attacked near the Strait of Hormuz, leading Gulf countries to blame Iran. The United States responded with attacks on Iran, which then struck Bahrain and Kuwait. This increased conflict centers around control of the Strait of Hormuz, a key route for global oil and gas supplies.Key Facts
- Two tankers were attacked on Tuesday near the Strait of Hormuz in Omani waters.
- Gulf countries blamed Iran for the attacks.
- The United States launched military strikes on Iranian territory.
- In response, Iran attacked locations in Bahrain and Kuwait.
- President Donald Trump declared the Iran-US memorandum of understanding void.
- The Strait of Hormuz is a major passage for about 20% of the world’s oil and liquefied natural gas.
- Iran has heavily disrupted traffic through the strait, reducing it by around 95%.
- Gulf countries have rerouted oil through pipelines, but these carry much less oil than the strait handled before.
- Iran wants to control the strait more firmly and charge fees to ships passing through, which the US opposes.
- The conflict has caused a large disruption in global oil supplies, affecting many countries economically.
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