Middle East Business Politics

Strait of Hormuz energy crisis

Strait of Hormuz energy crisis

The closure of the strait is disrupting economic activity across Asia and Europe, with thousands of seafarers reportedly stranded in the Gulf.

World leaders are attempting to bypass Washington to negotiate the reopening of the waterway as the impact on global supply chains deepens.

In countries like Pakistan and Thailand, the surge in diesel costs has crippled local industries and sparked public anger.

Despite US claims of military dominance, Tehran's leverage over global energy exports remains a primary obstacle to regional stability.