The Strait of Hormuz is a critical maritime chokepoint and an important channel for international trade and energy supplies. It is estimated that roughly 20 per cent of global oil and liquefied natural gas (LNG) passes through this narrow waterway. Similarly, one-third of global fertiliser trade also transits the strait, which has now become a dangerous flashpoint in the geopolitical contest between the US and Iran.

After the joint US-Israeli strikes against Iran on 28 February, the Iranian regime effectively closed this critical waterway. This has significantly threatened freedom of navigation and disrupted global oil supplies, setting a dangerous precedent for other strategic waterways across the world. Iran continues to assert control over the Strait of Hormuz, thereby obstructing global oil shipments and consequently throttling the global economy.

However, after intense diplomatic and mediation efforts by Pakistan and other regional countries, the US and Iran reached a 14-point agreement. They digitally signed what is called the “Islamabad Memorandum of Understanding” on 15 June. Both countries agreed to a ceasefire and the reopening of the Strait of Hormuz.

Initially, the war objectives of the US were to prevent Iran from developing a nuclear weapon, pursue regime change, exert strategic coercion and reduce Iran’s regional influence. The renewed conflict, however, now centres largely on controlling the key waterway: the Strait of Hormuz.

For obvious reasons, the Strait of Hormuz has become a tool of strategic leverage for Iran, as it can effectively throttle the global economy by disrupting oil shipments through this narrow waterway and thereby bring the global superpower to strategic terms. The closure of the strait by the Iranian regime has significantly disrupted global energy supplies and sent shockwaves through the world economy. This disruption has brought global commerce to a breaking point. After a temporary ceasefire, the renewed conflict is largely seen as a competition to control the strait and use regional........

© The Nation