Iran’s control of Strait of Hormuz raises legal issues; reopening unlikely May 25, 2026 Export - Import, Foreign Ports, International Shipping, Maritime, Maritime Law, Shipping, Shipping Line, Trade, Trending News LONDON: Iran’s tightening grip on the Strait of Hormuz has left global energy markets and shipping in turmoil, with The Financial Times reporting that a full reopening of the waterway in 2026 is unlikely.