China urged to strengthen navy escorts and find other routes to secure energy supply
Closure of Strait of Hormuz has exposed fragility of maritime chokepoints and more should be done to protect shipments, analysts say
Lu Ruquan, president of the China National Petroleum Corporation Economics and Technology Research Institute, said the country should “strengthen escort capabilities, emergency responses and safety guarantees at critical nodes”.
Writing in the journal International Petroleum Economics on Monday, lead author Lu said the closure of the Strait of Hormuz had exposed the fragility of global maritime chokepoints.
The waterway’s closure since March has disrupted shipments of vital goods such as oil, gas and fertiliser, driving up prices and inflation. The US inflation rate hit 4.2 per cent in May – the highest level in three years.
An outline of the agreement released by Washington states that Iran will “use its best efforts” to ensure safe, fee-free passage for commercial vessels between the Persian Gulf and the Sea of Oman for 60 days.