The Iran Strait of Hormuz Crisis May Have Changed the Global Economy Forever: For more than three months, the Strait of Hormuz crisis has exposed one of the world’s biggest economic vulnerabilities.
Before the conflict began, roughly one-fifth of the world’s oil moved through the strait, but when tanker traffic slowed, and the crisis escalated, it became obvious – particularly to Asian and European economies – that the old system was not safe.
Indian Ocean (January 6th, 2021)The aircraft carrier USS Nimitz (CVN 68) steams in the Indian Ocean, Jan. 6.