Rising tensions between the United States and Iran are creating serious concerns globally, with new developments pointing to economic and military risks. A fragile ceasefire is currently in place, but the situation remains unstable and could change quickly.
One major issue is Iran’s increased control over the Strait of Hormuz, a critical route where about 25% of the world’s oil passes. Hundreds of ships have been delayed, and oil prices have surged as a result, impacting economies worldwide.
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