Who Charges Admission to the World Economy

Talks stalled and tankers burned. U.S. strikes on Iran paused Saturday night, and the Houthis floated a toll on twelve percent of world trade.The negotiating tables are quiet and the sea lanes are not. Russia's largest Black Sea oil terminal goes days without loading a single tanker, a thirteen day U.S. air campaign against Iran stops and restarts and is called off again on a Saturday night, and the Houthis float an idea that would change how the world pays to move cargo. The fighting has migrated to the chokepoints, and the question is no longer who wins the war but who gets to charge for access to the global economy.