The war with Iran has become a battle about a tollbooth. Free seas are at risk | CNN Business

What started as a campaign to diminish Iran’s nuclear capabilities and weaken its global terror networks has morphed into a dispute over control of one of the world’s most important trade routes. The Iran war has become a battle for the Strait of Hormuz, a global chokepoint for oil, natural gas, fertilizer and other commodities. If the conflict leaves Hormuz under the permanent control of Iran – or the United States – it could spell the beginning of the end of free passage on the open seas, a concept that has underpinned global trade for centuries. “This could set a dangerous precedent and make international seaborne trade much more expensive, a cost that would ultimately be passed on to end-consumers,” Erik Grundt, a senior analyst at consultancy Rystad Energy, told CNN. Following the start of US- and Israeli-led attacks on February 28, Iran almost immediately declared the Strait of Hormuz closed, creating the largest oil supply shock in history. Having gained a new source of leverage over the global economy, Tehran is fighting hard to keep it. Vessels that wish to transit the strait must either coordinate with Iran’s newly established Persian Gulf Strait Authority,