The Strait of Hormuz is not the only key waterway for world trade. But any disruption or extension of the transport chains leads to an increase in prices and other consequences. What are the most important straits and canals in the world?
The Strait of Hormuz has become a key topic for world politics and economics since the beginning of the US-Israeli strikes against Iran. The Islamic Republic has imposed control over the strait and blocked the passage of vessels through it. As a result, a number of raw materials - from fuels to fertilizers to metals - remained blocked in the Persian Gulf, and accordingly their prices rose significantly on global markets.
However, Hormuz is not the only key waterway for world trade. Over 70% of it passes by water, and any disruption or extension of transport chains leads to an increase in prices and severe consequences. What are the most key straits and canals in the world?
Bab El Mandeb and the Suez Canal - the entrance and exit from the Red Sea
Gibraltar, the Suez Canal, the Panama Canal, the Cape of Good Hope, the Strait of Malacca, Bab el-Mandeb, the Bosphorus - a problem with passing through any of these connections could create a crisis similar to the one with the Strait of Hormuz.
According to information from "Al Jazeera", 12% of world trade passes through Bab el Mandeb - the only entrance from the Indian Ocean to the Red Sea. When tensions arise near the Bab el-Mandeb, such as attacks by the Houthis, ships must circumnavigate the entire continent of Africa, passing through the Cape of Good Hope in South Africa, which greatly increases the cost and delays of shipping.
Otherwise, ships reach Europe via the Red Sea and the Suez Canal - a key artery for transport between Asia and Europe, opened in 1869.
The canal has also become a bone of contention. In 1956, Egyptian President Gamal Abdel Nasser nationalized it, and in response, Israel, Britain and France invaded Egypt. However, pressure from the US, the USSR and the UN forced the three countries to withdraw, which solidified Nasser's power.
Gibraltar and the Bosphorus are key to Europe
The Bosphorus and the Dardanelles are also an important transport link that connects the Black and Mediterranean Seas, respectively responsible for a large part of the transport of fuels and other raw materials from countries such as Russia and Ukraine.
The only connection of the Mediterranean Sea with the Atlantic Ocean is the Strait of Gibraltar. Gibraltar has been an overseas territory of Great Britain since 1713, when Spain ceded possession as part of the Treaty of Utrecht. Since then, Spain has tried several times to renegotiate the status of Gibraltar, but without success. In 1967, a referendum was even held in which the inhabitants of the territory that also controls the strait chose to remain part of Britain.
The most important sea routes in Asia
The Strait of Malacca connects the Andaman Sea with the South China Sea. About 40% of world trade and 80% of China's oil imports pass through it. This means that a larger volume of oil passes through Malacca than even through the Strait of Hormuz.
Another key point in Asia is the Taiwan Strait, connecting the East China Sea with the South China Sea. The strait has been a site of serious tension and several military clashes between Taiwan and the People's Republic of China since the end of the Chinese Civil War in 1949. Today, about 20% of world trade, including high-tech and semiconductors, passes through it.
Trump wants the Panama Canal back
The Panama Canal is a key point for America, with 40% of US container trade passing through it. The canal plays a key role in energy security - over 95% of US liquefied petroleum gas exports destined for Asia are transported through it.
The canal was built in 1914 by the US, and in 1977, President Jimmy Carter agreed to gradually return control to Panama, which became final in 1999. Even before returning to the White House, Donald Trump stated that the US should reacquire the Panama Canal because, in his opinion, American ships were charged too high fees and it was run by China.