Strait of Hormuz will open soon, no tolls for Iran
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Energy industry experts warn that allowing Iran to charge ships to ensure safe passage through the strait would raise energy costs.
Even with a cease-fire, Iran is keeping a chokehold on ship traffic, forcing countries to cut deals that could put them at odds with the U.S.
Oil prices rose again above $100 a barrel as initial optimism over the deal gave way to uncertainty about when passage through the Hormuz Strait might resume.
Sultan Ahmed Al Jaber demanded a full reopening of the strait, warning that the oil supply disruption will increase if Iran maintains control of the passage.
A fragile ceasefire that’s mostly quieted the skies over the Middle East isn’t giving shippers the nerve to brave the narrow waterway that holds the key to 20% of the world’s oil supply.
The vote hammered home to Gulf states that China is a partner when it comes to business—but less so on security.
A law professor is warning of the impact on freedom of navigation if tolls are imposed on ships trying to cross the Strait of Hormuz or Iran retains control of it.
UC Berkeley law professor John Yoo comments on the Strait of Hormuz, international maritime law and more on ‘America Reports.’