The Strait of Hormuz is a 33km wide strait, with the Northern part controlled by Iran and the Southern by Oman and UAE, who jointly share the territorial rights over the waters. A former Iranian Prime Minister termed it as the Jugular of the World Economy. Let’s discuss how this narrow shipping route in the Gulf region is of strategic importance and center at rising tensions to chock the world economy.
The middle-east region has been in a state of turmoil for decades with episodes of civil wars, uprisings, and airstrikes making it to the news headlines almost every other day. The ongoing Cold War between the region’s two most powerful nations has torn the region apart, resulting in two of the worst humanitarian crises the world has witnessed.
What an unexpected 180 degree turn for a nation from being the second largest crude oil importer from Iran to seeing it cut its Iranian oil imports to half in the wake of US trade sanctions that were kicked in November. But have we ever wondered the cause, the reasons and the events that lead to the structural framework and economic ties between these 2 nations? And what all geopolitics situations that pushed the Nation like India and China to cut their respective import of oil from Iran.