Could a US-Iran deal over Hormuz reshape global shipping and the rules of international trade?

article author: ALEX JAMES Wed, 2026-08-05 22: 40 LONDON: Negotiations are now underway between the US, Iran, and Oman to reopen the Strait of Hormuz, and while the agreement’s precise shape remains unknown, it seems at least one side will land responsibility for managing what has, until now, been an international waterway. From a legal and practical perspective, any such deal raises huge questions, not least what it means for the continuity of international law, what it means for other trading chokepoints, and what it means for the inflationary pressures heaping themselves on world economies. Main category: Middle East Tags: War in Iran Strait of Hormuz Editor’s Choice Special

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