Duelling blockades hold global economy hostage

<p>The energy crisis spurred by Iran’s closure of the Strait of Hormuz is wreaking economic havoc on much of the world; especially in Asia and Europe, where shortages have already forced people to ration fuel, travel less for work, and pay more for food.&nbsp;</p><p><br></p><p>And it could all get even worse, because this week, after ceasefire talks fell apart, the Trump administration imposed a blockade of its own. Now, as both countries play a high stakes game of chicken on the Strait, many questions remain. What ships can and can’t be allowed through? Will the blockade actually pressure Iran to capitulate? How much worse could this crisis get? We’re joined by Ian Ralby, a leading expert in international maritime law and security.&nbsp;</p><p><br></p><p>For transcripts of Front Burner, please visit:&nbsp;<a href="https://www.cbc.ca/radio/frontburner/transcripts" rel="noopener noreferrer" target="_blank">https://www.cbc.ca/radio/frontburner/transcripts</a></p>