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“This really is the big one,” David Goldwyn, fmr #US diplomat & #Energy Dept ofcl, said of the shutdown of the #StraitOfHormuz, the world’s most important choke point for #oil. This is the emergency scenario everyone feared.

#Cargo deliveries are stranded, #shipping charges have increased & #insurance premiums have skyrocketed. Yes, the price of #gas at the pump is affected. But so is the price of #food, #medicine, airplane tickets, #electricity, cooking oil, semiconductors & more.

#TrumpsWar


Seafarers have the right to refuse to sail ​on ships passing through the Middle East Gulf, including the Strait of Hormuz, after the threat level for the region was ​raised to ‌its highest level, the leading labour ⁠union and shipping industry groups said on Thursday. FRANCE 24's Sharon Gaffney speaks with Michael Tamvakis, Professor of Commodity Economics and Finance at the Bayes Business School, City University London.
#Iran #war #shipping #StraitofHormuz

youtube.com/watch?v=dDSXowRNoU…


The U.S. military "eliminated" 16 Iranian mine-laying vessels near the Strait of Hormuz on Tuesday, the U.S. Central Command said in a statement, as President Donald Trump warned that any ​mines laid in ‌the Strait by Iran must be removed immediately. Trump previously said the U.S. had "completely destroyed" ⁠10 inactive mine-laying vessels. FRANCE 24's Fraser Jackson reports from Washington.
#Iran #StraitofHormuz #oil #shipping

youtube.com/watch?v=sZey-Lln1S…


While Iranian forces continue to block the Strait of Hormuz, which normally carries around 20 percent of global oil supplies, a number of ships linked to China have managed to transit through the strait, leaving some to speculate a deal has been made between Beijing and Tehran.
#Iran #Hormuz #China #shipping #trade #war #UnitedStates #oil

youtube.com/watch?v=OuTmoexBm9…