For years, policymakers focused on one question: Will Iran build a nuclear weapon?The recent war revealed a different reality. Tehran’s most effective strategic asset may not be its nuclear program at all. It is the Strait of Hormuz.The mere possibility of disruption in Hormuz can move oil prices, increase shipping costs, raise insurance premiums, and influence political decision-making around the world within hours. During the recent conflict, concern over the security of the world’s most important energy corridor became a major factor in international calculations.
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The lesson is clear: reopening the Strait of Hormuz does not necessarily mean stability has returned.
Nearly one fifth of globally traded oil passes through this narrow waterway. Because of its geographic position, Iran possesses the ability to threaten a critical artery of the global economy without firing a shot or formally closing the Strait.
That leverage extends far beyond traditional military power.
