The Strait of Hormuz has long been the most important and convenient channel for oil exports in the Persian Gulf. However, due to the war between the US and Iran, the capacity of the Strait of Hormuz was severely damaged. According to a report in the US “New York Times” on August 12, many countries in the Persian Gulf are spending billions of dollars to build oil pipelines that bypass the Strait of Hormuz to reduce geographical risks.

The Strait of Hormuz has long been the most important and convenient channel for oil exports in the Persian Gulf. However, due to the war between the US and Iran, the capacity of the Strait of Hormuz was severely damaged. According to a report in the US “New York Times” on August 12, many countries in the Persian Gulf are spending billions of dollars to build oil pipelines that bypass the Strait of Hormuz to reduce geographical risks.