The world’s most critical oil chokepoint is supposed to open – but on borrowed time. A fragile U.S.-Iran ceasefire appears to bring just two weeks of calm in the Strait of Hormuz, if all goes well. Both sides have made tough demands of the other and official talks will take place this Friday, in Pakistan, as global energy markets hang in the balance.
A single chokepoint moves a quarter of the world’s oil – and right now, despite a two-week window for reopening – it’s still a risk that needs to be reduced. Now, the race is on to find a safer route, but the alternative may be farther, and more fragile, than it seems.
The transatlantic alliance has been in crisis since U.S. President Donald Trump took office for the second time, and the rift has only deepened since the start of the U.S.-Israeli war against Iran. European NATO members were excluded from the decision to go to war and were informed only after strikes on Tehran began. Now that NATO Secretary General Mark Rutte is in Washington, can he repair the relationship
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