🔺HSBC CEO: The Strait of Hormuz will become ineffective within the next five years

▪The CEO of the banking group HSBC said that investment in alternative logistics routes would remove the Persian Gulf from the effects of the war between the United States and Israel and the Islamic Republic, and that the Strait of Hormuz would likely become “ineffective” within the next five years.

▪Based on data from the International Energy Agency, nearly 20 million barrels of crude oil and refined products pass through the Strait of Hormuz every day, and the capacity of the existing alternative routes is far less than that figure.

▪However, the Islamic Republic’s disruption in the Strait of Hormuz highlighted the severe dependence on this strategic waterway, and this situation pushed the countries of the Persian Gulf region to direct their financial resources toward developing energy pipeline lines to ports.