Sources in the shipping industry say the proposed deal for passage through the Strait of Hormuz is not feasible. This was reported by Qazaqyia.kz citing Reuters.
The Strait of Hormuz is a vital route for global oil transportation. The proposed deal has been deemed unworkable for shipping companies. According to sources, the terms of the deal do not align with the industry's actual needs.
This news may cause concern in global markets, as a significant portion of the world's oil exports passes through the Strait of Hormuz. The infeasibility of the deal could impact oil prices.