Over two months have passed since the launch of US strikes on Iran on February 28th, 2026, which has in turn triggered Iran’s closure of the Strait of Hormuz. Located between Oman and Iran, the Strait of Hormuz serves as a crucial connection point between the Persian Gulf, the Arabian Sea, and the Gulf of Oman - its de facto role as a geographic connector has made it a key player in global trade and shipping. In January 2026, the Strait of Hormuz was the passing point of an average of 20 million barrels of oil per day on about 130 daily ships. Yet, the events that have unfolded since February 28th make the future of the Strait of Hormuz - and, subsequently, the future of shipping and trading substances like oil and gas - concerningly uncertain.

The 1980s already saw the outbreak of a war between Iran and Iraq, for reasons of conflicting interests over dominance in the Persian Gulf.