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Global Business News

The Economic Times

Global Business / The Economic Times

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West Asia turmoil: Hormuz crisis spurs action by oil importers

A narrow corridor linking the Gulf to global markets, Hormuz has been all but blocked since US and Israeli strikes began late last month. In normal times, the strait carries about a quarter of the world's seaborne oil trade. In recent weeks, however, only a trickle of vessels - Chinese, Iran-linked or Iran-protected - have passed through.

23 Mar 2026 12:32 am