Strait of Hormuz plays a key role in Iran-Israel war

Tue. 11: The name that is being heard a lot in the war between Israel, America and Iran that started on February 28 is the Strait of Hormuz. Today, most of the world's cargo is transported by water. This is because water transport is cheaper.

You may have noticed that the prices of some goods have increased in Europe and other Asian countries in the two weeks since the war began. In India too, the price of cooking gas has suddenly increased by 60 rupees per cylinder. This is because the price of crude oil has jumped from 80 to 110 dollars per barrel.

The Strait of Hormuz is a narrow sea route connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, and serves as the only sea route for oil exports from many Middle Eastern countries.

Geographically, the strait is located between Iran to the north and Oman and the United Arab Emirates to the south. It is about 55–95 km wide, but the shipping lanes used by large oil tankers are much narrower. These lanes allow ships to travel in both directions and are separated by a buffer zone to reduce the risk of collision.

It is considered the world's most critical oil chokepoint, as one-fifth of the world's daily crude oil trade passes through this route. Every day, about 20 million barrels of crude oil and petroleum products pass through this route. It accounts for approximately 20–25% of global oil consumption and a large share of the world's liquefied natural gas (LNG) trade. Because of this massive flow of energy, any disruption in the strait can quickly affect global oil prices and the world economy.

Many major oil-producing countries rely on this waterway to export their energy resources. These include Saudi Arabia, ed through the strait goes to Asian markets such as China, India, Japan, and South Korea, whichMany major oil-producing countries rely on this waterway to export their energy resources. These include Saudi Arabia, Iran, Iraq, Kuwait, Qatar, and the United Arab Emirates. Most of the oil transport are important for their energy security. Iran, Iraq, Kuwait, Qatar, and the United Arab Emirates. Most of the oil transported through the strait goes to Asian markets such as China, India, Japan, and South Korea, which are important for their energy security.

The strait is of major geopolitical importance. Due to its strategic location, it has been the focus of military tensions and conflicts for decades. During the Iran–Iraq War in the 1980s, both sides attacked oil tankers in what became known as the "tanker war". The disruption of oil supplies in Asian countries, including India, is a daily occurrence, as global energy supplies could be vulnerable if shipping through the strait were threatened.

Although some countries have built pipelines to bypass the strait, these alternatives can only handle a small fraction of the total oil transported through it.

Therefore, the global energy market is highly dependent on the continued safe passage of ships through this narrow corridor.

Meanwhile, US President Trump has said that he will send US warships to the Strait of Hormuz to provide protection to oil tankers, but Iran has responded by warning that if American ships come, they will simply sink to the bottom of the sea. Today, Iran is also a sufficiently capable country among the Gulf states (with sufficient uranium), and the US and Israel cannot take control of the Strait of Hormuz alone. To do so, Iran will have to be defeated in an all-out war. If a full-scale war occurs, the consequences will be even more dire. Thus, if the US and Israel continue to move slowly, Iran is a wounded country and is looking forward to appropriate retaliation.

Shipping in Hormuz is suspended

More than a hundred ships pass through the Strait of Hormuz every day. But since the start of the war, only 20 ships have sailed here so far this month. This is because insurance companies have warned that if a ship sailing here is hit by a missile attack and the ship is sunk/destroyed, insurance money will not be paid. (Usually, insurance companies refuse to cover this even when there is a curfew, strike, riot, or unrest.) The cost of a large oil tanker is around 700 to 1000 crore rupees, which has a storage system as large as a football field. Depending on its capacity, it can carry from one million barrels to 2 million barrels of crude oil. The value of this oil can also be around 750 to 1500 crore rupees. Since the total loss if a ship sinks is more than 2000 crore rupees, no shipping company agrees to ship without insurance. Due to this, the prices of essential commodities have fluctuated in many countries. A ship has an annual insurance premium of 0.2 percent of the total value of the ship. During this war, insurance companies increased the premium five times to 1 percent. This means that now an insurance premium of about 20 crore rupees has to be paid for a ship. This does not include the value of the ship's cargo; it has to be insured separately. Therefore, shipping companies have stopped the ship.

Rights of countries' water borders

As decided by the United Nations, the water area within 22 kilometers of the land area of ​​each country is naturally subject to the full rights of that country.

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