Strait of Tension: The Unraveling Ceasefire and What It Means for Global Trade The recent escalation in tensions between the United States and Iran has brought the fragile ceasefire to the brink of collapse.
Just a few weeks ago, it seemed that the truce agreed upon by President Trump and his Iranian counterpart might have been the beginning of a new era of cooperation. However, reality has had other plans.
The dispute over control of the Strait of Hormuz continues to simmer. Iran is attempting to divert traffic through the lane controlled by Tehran and away from Omani waters.