On February 28th, Israel and the US launched Operation Epic Fury – a massive bombing campaign against military targets all over Iran. What most recall is that this caused the closing of the Strait of Hormuz. The more accurate story, however, is that even before missiles began flying and mines began exploding, the Strait closed itself. Daily transit collapsed from a baseline of around 138 vessels to single digits within 96 hours of the commencement of bombing, and by the time the Islamic Revolutionary Guard Corps (IRGC) formally declared the waterway shut, there was little traffic left to blockade.
The Institutional Gates of Global Shipping: Insights for Geoeconomic Decision-Makers
The Hormuz crisis represents an ideal test of the latest research into the geoeconomics of global trade – as well as a source of insights for decision-makers in the business and policy spheres.
