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IMO, US Government, Iranian Government
Strait of Hormuz
July 13, 2026
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Read our editorial policyIMO council condemns attacks on civilian vessels in the Strait of Hormuz. US President Trump announces a 20% transit fee and blockade of Iranian ships. Iran counters with a lower transit fee proposal. World Bank reports significant global commodity price shocks due to the strait's closure.
Author: Daniel Yergin
Daniel Yergin's masterpiece provides the essential historical context of how oil became the lifeblood of the global economy and why the security of maritime chokepoints like the Strait of Hormuz is a matter of existential importance for global stability.
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