Klaus Dodds
Executive Dean and Professor at Royal Holloway, University of London
Currently, about 20% of global daily oil consumption goes through the Strait of Hormuz, with the main markets being Japan, China, India and South Korea. Even countries that might not be directly connected to those shipping movements could be impacted by any blockade or interreference because of third party refining of that oil. Australia gets refined oil from South Korea (a larger refiner of oil despite having no resources itself), and that oil came originally from Middle Eastern suppliers. LNG transport is another consideration. Qatar depends on the Strait of Hormuz to transport most of its LNG shipments.