Bulwark Takes The Global Economy Is Literally Being Choked (w/ Sal Mercogliano)
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Mar 21, 2026 
Sal Mercogliano, maritime historian and former merchant mariner, explains Iran’s tightening control of the Strait of Hormuz. He outlines how chokepoints, drones, mines, and inspections are stalling tankers and stranding crews. He also discusses the clash between military power and economic control, and how disrupted Gulf flows are reshaping global trade and energy markets.
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Strait Of Hormuz Carries A Quarter Of Global Trade
- The Strait of Hormuz is a critical maritime choke point handling about 135 ships daily and roughly 25% of global trade.
- Traffic includes tankers, LNG/LPG carriers and ore ships, so disruptions quickly ripple through energy and commodity markets.
Iran Controls Who Transits The Strait
- Iran has shifted from a near-complete shutdown to selectively allowing ships that get Iranian permission to transit via Iranian territorial waters between islands.
- Sal says Iran may be inspecting and charging ships up to two million dollars each to pass through alternate routes.
Asymmetric Threats Beat Naval Supremacy
- Military superiority doesn't automatically keep the strait open because asymmetric, low-cost weapons can menace shipping without a conventional navy.
- Drones, remote-controlled boats and mines create a swarm/gnat problem that's hard to eliminate with limited escort vessels.