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David McHugh

David McHugh

Salon

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First, Iran and Hormuz, second, China and Taiwan? The dangerous implications of a tollbooth on the open sea

Collecting tolls in the strait would violate a basic and enduring principle of international maritime trade: freedom of peaceful navigation.

09.04.2026 6

Fortune

David Mchugh

Trump’s big accomplishment in Iran is ‘de facto ‘toll booth’ regime’ in the Strait of Hormuz, shipping analyst says

A new toll booth for world oil is taking place where it wasn't before, Lloyd's Intelligence concluded.

27.03.2026 6

Fortune

David Mchugh

U.S. lifts sanctions on Russian oil already loaded onto tankers, equal to 5-6 days’ worth of normal shipments through the Strait of Hormuz

Analysts estimate about 125 million barrels of Russian oil are currently being shipped.

14.03.2026 9

Fortune

David Mchugh

Oil prices spike above $70 per barrel as Iran’s Straight of Hormuz grows tangled

US oil traded 7.4% higher at $71.97 per barrel, while international standard Brent was up 7.7% at $78.46 per barrel.

02.03.2026 10

Fortune

David Mchugh

‘I guess there will be some amendments’: EU trade negotiator is having second thoughts about deal with Trump

“A lot of questions are there," said Bernd Lange, head of the EU trade committee. “Myself and also some colleagues of mine have doubts about the...

05.09.2025 10

Fortune

David McHugh

EU awaits decision today on Trump’s potential punishing tariffs threatening ‘the most important commercial relationship in the world’

Trump expressed displeasure with the EU's trade stance, threatening to raise tariffs on European exports to 50%, making items like French cheese and...

07.07.2025 6

Fortune

David McHugh

European Central Bank head sees more volatile inflation as global uncertainty grows: ‘It’s pretty basic but that’s the reality’

ECB President Lagarde warns that global shocks like the pandemic and Russia’s invasion of Ukraine are heightening uncertainty around growth and...

01.07.2025 10

Fortune

David McHugh

Populist backlash and ‘brainwashing’ threaten to derail Bulgaria joining the euro currency

Protests and anti-EU sentiment have spiked on the eve of a key decision by European Union authorities to allow Bulgaria to join the euro.

03.06.2025 10

Fortune

David McHugh