Starting with Hormuz, Do We Nationalize Or Privatize The Seas? - OpEd

The op-ed argues that the conflict tied to Iran’s nuclear aims has largely shifted toward control of the Strait of Hormuz, a vital global shipping chokepoint for oil, natural gas, fertilizers and other raw materials. It claims Iran has established an authority to charge transit fees and notes that there have been Iranian—briefly also U.S.-floated—attempts to impose tolls, warning these could violate international maritime law such as UNCLOS, worsen insurance and raise global trade costs. The piece adds that monetizing Hormuz could set a precedent for other nations and intensify sovereignty disputes at other strategic straits.