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Bottlenecked at the Strait of Hormuz and the cost to global trade | Commercial Awareness Compass #71
A new war in the Middle East has sent the global trading system into shock. As sustained fighting threatens to keep the Strait of Hormuz closed, the commercial world is bracing for the impact of high energy prices and new trading challenges. The sudden conflict is forcing businesses to reevaluate their supply chains and try to get out of existing contracts to avoid the shock of sudden price hikes.
For aspiring commercial lawyers, there are some key questions you have to understand. Why is the closure of a single waterway freezing international commerce? How can businesses protect themselves…
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