Iran has shifted 80% of its trade from sea to land routes to circumvent the closure, according to the Financial Times, causing truck queues at the Turkish border to stretch 7km. Former US Ambassador Chas Freeman stated that the international community now holds the US more responsible for the resulting global economic distress than it does Iran.
Tuesday, October 20, 2026
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US Spends $30M Daily to Keep Strait of Hormuz Closed to Trade
Commodities28 days ago
Commercial shipping traffic through one of the Middle East's most vital waterways has plummeted to near zero. The United States government spends more than $30 million a day to maintain a naval blockade of the Strait of Hormuz, an effort attributed to the policies of President Trump that resulted in only 2 tankers crossing the strait on September 21 compared to 61 on the same date last year.
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