Gulf States Face Unpalatable Choice in Hormuz Standoff The Middle East's latest crisis has been brewing for months, with tensions between Iran and its Gulf state neighbors centered on control of the Strait of Hormuz.
The stakes are high: this waterway carries a fifth of global oil exports. Yet regional players are reluctant to take drastic action against Tehran.
Several Gulf states are reportedly open to accepting Iran's de facto control over the strait in exchange for a temporary arrangement to reopen shipping lanes.