Iran’s Mine Threat to the Strait of Hormuz
Iran’s Mine Threat to the Strait of Hormuz
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Mining the Strait of Hormuz could take Iran mere hours. Clearing it could take months.
As Iranian drones and missiles pound the Gulf states and Israel, including major energy targets, the Iran War is undoubtedly a regional one. Logically, the financial markets, including commodities like oil and gas, have taken a hit but could go into uncharted territory. Indeed, the Strait of Hormuz, through which nearly one-fifth of the world’s oil supply flows, has emerged as a potential chokepoint that could paralyze international commerce for weeks or months, regardless of US military superiority elsewhere.
Iran has already blocked the strait, causing a dramatic rise in insurance rates that have largely deterred ships from crossing. Since the outbreak of the conflict, Iranian missile and boat attacks on at least 20 vessels, including the oil........
