Iran says 'illegal routes' in Hormuz to be blocked

In light of recent crises in the Middle East, including the Gaza war, tensions with Iran, and potential disruptions in the Strait of Hormuz, France's Special Envoy for the India-Middle East-Europe Economic Corridor (IMEC), Gérard Mestrallet, has emphasized the importance of a resilient corridor that offers multiple routes. Mestrallet stressed that the ongoing challenges have reinforced the need for a network of complementary routes to ensure market resilience.

He noted that while the IMEC is often discussed as a single fixed route, it is now recognized as a network capable of providing alternatives if one route is disrupted due to accidents, technical issues, or local crises. This adaptability is crucial in the current geopolitical climate, where risks in the Middle East can lead to higher insurance costs and altered economic considerations.