Andrew Egger talks with shipping expert Sal Mercogliano about his initial reaction to the ceasefire with Iran and what it really means for global shipping with the Strait of Hormuz. Despite claims that the strait is open, most vessels remain stuck or are forced to navigate Iran’s “toll booth,” creating uncertainty for trade and commerce. Sal explains how Iran’s control could permanently reduce shipping capacity and generate massive revenue for Iran, with ripple effects that may take up to 40 weeks to fully recover. We also cover the humanitarian situation for mariners, the economic stakes for oil and global trade, and what the US and other countries are doing or not doing to respond.
Watch more of Sal’s videos here: https://www.youtube.com/channel/UCT_yBgKSiwb3WP4ACPnF5nA
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