Iran’s mission at the UN announced that the country is not bound by the UN Convention on the Law of the Sea, asserting sovereignty over the Strait of Hormuz. Strait of Hormuz traffic that was back to normal by May 15 has now arrived
Market performance
The Traffic through the Strait of Hormuz will return to normal by May 15 the market fell after Iran’s announcement. The face value is $215,992/day and $36,459/day in real USDC traded. It takes $4,658 to move the market 5 points. The The UK passed through the Strait by 30 April the market sits at 1.8% YES, which means that traders expect a disruption in the supply chain rather than a military escalation.
Why is it important?
Iran categorically rejects the UNCLOS mandate on the Strait of Hormuz, which accounts for about 20% of the world’s oil traffic, giving Tehran the ability to block or monitor shipping at will. This is a direct challenge to the freedom of navigation principles that facilitate the shipping of goods through waterways.
For you to see
The source is part-3, so authentication is necessary. Watch for a statement from General Michael Kurilla and any changes to Iran’s naval operations. Two things can move the market directly: Iran to remove mines, or the US to announce the lifting of the blockade. At 19.5¢, a share of YES pays $1 if things change by May 15, a
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