Energy
Trump’s Hormuz Blockade Has Deepened a Historic Shipping Crisis
In early April — after a month of disruption around one of the world’s most important energy chokepoints — US President Donald Trump wrote that with “a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE.”
Three weeks on, transiting through the Strait of Hormuz has instead become virtually impossible for the first time in history. Trump has imposed a US blockade of Iran-linked ships, Tehran is using its “mosquito fleet” of gunboats to close down the waterway in response — and shipowners say a return to normal shipments is months away, at best.