The Strait of Hormuz: A Sanctions Showdown That Threatens Global Oil Supplies The US has issued a stern warning that it will impose its toughest ever sanctions on Iran, prompting an urgent call for China to help reopen the vital Strait of Hormuz.
This high stakes game of economic brinkmanship has sent oil prices soaring, but what does this latest escalation mean for the global economy?
The proposed sanctions regime aims to throttle Iran's economy by combining existing blockades with new economic penalties.