Creating building blocks of a new world order in the Strait of Hormuz

The battle for control of the Strait of Hormuz is a battle over what some of the building blocks of a new world order will be. At stake is far more than whether Iran will have a stranglehold over the flow of 20 per cent of the world’s seaborne energy trade through the strategic strait, and with it over Gulf economies. Potentially, it is also a battle for control of the terms of the energy trade,…