Iran rejects UN-backed plan to free ships trapped in strait of Hormuz

Blocking of proposal backed by Oman signals new threat to free passage through strait vital to world economyIran has rejected UN-backed plans for the mass evacuation of ships through the strait of Hormuz, creating a new threat to the free passage of commercial ships through the strait.The proposal, backed by Oman, was potentially the first phase of a broader Omani proposal to consult on setting up a new management of the strait based on voluntary fees and modelled on the Malacca and Singapore strait mechanism. Continue reading...