How Suez and Hormuz became a linked risk-transfer market

The Suez Canal and Hormuz have been analyzed as separate problems: one sensitive to Red Sea security, the other sensitive to Iranian behavior.

For most of the past, the Suez Canal and the Strait of Hormuz have been analyzed as separate problems: one an Egyptian revenue engine sensitive to Red Sea security, the other a Gulf oil chokepoint sensitive to Iranian behavior.

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