The global ‘freedom of the seas’ is dying in the Strait of Hormuz—and everyone, everywhere, could pay the tolls
Concerns are growing that the de-facto tolling of the Strait of Hormuz could trigger a domino effect for key shipping bottlenecks worldwide, creating more global inflation and effectively killing key components of international maritime law. As Iran insists on some form of fee structure for traversing the now-infamous strait—and the U.S.
Reported by 1 outlet — Fortune. See all sources ↓
Concerns are growing that the de-facto tolling of the Strait of Hormuz could trigger a domino effect for key shipping bottlenecks worldwide, creating more global inflation and effectively killing key components of international maritime law. As Iran insists on some form of fee structure for traversing the now-infamous strait—and the U.S. increasingly seems unable to prevent it—the rising expectation is that other nations may insist on new fees elsewhere, such as Asia’s Strait of Malacca, Europe’s and Africa’s Strait of Gibraltar, as well as key waterways impacted by Russia’s war in Ukraine. “I think that the ‘freedom of the seas’ is dead,” said Michelle Brouhard, head of policy and geopolitical risk for the Kpler energy intelligence firm.
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- What's the story?
- Concerns are growing that the de-facto tolling of the Strait of Hormuz could trigger a domino effect for key shipping bottlenecks worldwide, creating more global inflation and effectively killing key components of international maritime law. As Iran insists on some form of fee structure for traversing the now-infamous strait—and the U.S.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
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- 4m ago.
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The global ‘freedom of the seas’ is dying in the Strait of Hormuz—and everyone, everywhere, could pay the tolls
Sources1TypeCoverageFortune