Hormuz Shuts Down, Red Sea Reignites: Dual-Chokepoint Crisis Hits Global Shipping

IRGC closes Hormuz, insurers pull war risk cover, Houthis resume Red Sea attacks. The shipping industry faces a dual-chokepoint crisis.

The Strait of Hormuz has entered its most dangerous phase since the Iran-Iraq War of the 1980s. Following Operation Epic Fury — the coordinated U.S.-Israeli strike campaign launched on February 28 — the IRGC has declared the waterway closed to commercial traffic, at least three tankers have been hit, and the world's largest marine war risk insurers are …