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The cost of shipping oil through the Strait of Hormuz has increased dramatically: The rates for VLCC exceeded $14 per barrel in early March. The rise in prices has also affected Suezmax, and the market expects high volatility due to security risks, insurance surcharges and route redistricting.

The largest container carriers have begun to massively restrict operations in the Persian Gulf countries. Maersk, Hapag-Lloyd, COSCO and a number of other lines are suspending new bookings and reviewing ship routes. The reason was military risks in the region and a sharp increase in insurance rates for passage through the Strait of Hormuz.

The crisis of maritime transportation in the Red Sea and the Strait of Hormuz goes beyond logistics and is increasingly affecting the payment chains of foreign economic transactions. Increasing risks, lengthening routes, and strengthening banking controls are forcing businesses to rethink their usual settlement patterns and look for new financial solutions to maintain the sustainability of imports and exports.