As the US Navy interdicts vessels that it believes sustain Iran’s economic capacity, and the IRGC Navy targets and turns back shipping it deems non-compliant, virtually every stakeholder with trade interests in the region finds itself in the crosshairs of the rivalry. 5 min read Apr 28, 2026 04:49 PM IST First published on: Apr 28, 2026 at 04:48 PM IST The crisis in the Strait of Hormuz has settled into a dangerous equilibrium. With prospects for talks uncertain, Iran and the US remain locked in a tense standoff — neither willing to yield, both prepared to impose costs. This is not merely an episode of strategic posturing with collateral consequences. It is far more consequential: An unravelling of the long-settled relationship between law and power at sea. For perhaps the first time in contemporary maritime practice, a critical global chokepoint is subject to competing coercive regimes, each seeking to regulate access through force.…