Record Ship Traffic in Hormuz Strait
At least 36 cargo ships passed through the Strait of Hormuz on Monday, setting a record for maritime traffic since the beginning of Iran's war, following the signing of a memorandum of understanding between Washington and Tehran. Iran confirmed that it would take over management of the strait, after negotiations with the United States concluded in Switzerland, where four working groups were announced to address sanctions termination, nuclear issues, economic development, and monitoring. Currently, the strait handles up to 20% of the world's oil, and it had not been under management prior to the war that began last February.
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