Tensions over the Strait of Hormuz have plunged the global economy into uncertainty

Tehran, 29 April (UNI) The strategic Strait of Hormuz in the Gulf, through which nearly 20 percent of the world's oil and LNG is transported, has become a major challenge for the global economy due to the recent war-like situation and cannot be declared completely safe yet.
According to reports, the maritime traffic in the strait has been severely affected after the tensions and start of war between the US and Iran, resulting in around 2,000 ships being stuck in the Gulf. Experts say that even if the route is reopened, the dangers will not be completely eliminated. US authorities say it may take at least six months to clear the mines laid in the sea, while some analysts believe it may be almost impossible to completely eliminate the threat.
On the other hand, insurance companies have also suspended or made war risk insurance more expensive, citing the highly uncertain situation. According to experts, the cost of insurance, which was previously around 0.25 percent of the ship's value, could now be between 1 and 5 percent or even higher. Experts say that to declare the route safe again, it is necessary to have a permanent ceasefire between the parties, clear security guarantees, effective clearance of mines, and full control over the sea routes.
Experts say that only a temporary ceasefire will not be enough, but it is necessary for the maritime traffic to continue uninterrupted for a long time so that insurance companies can restore confidence. It is worth noting that the International Energy Agency has termed the situation as the biggest obstacle to oil supply in world history, which is even more severe than the 1970s oil crisis.
A Japanese-owned supertanker has successfully crossed the Strait of Hormuz after receiving formal permission from Iranian authorities, marking the first major oil shipment from the strategic sea route to Japan since the US-Israel-Iran conflict began.