00:00Momentum is growing for the establishment of a maritime protection system in the Strait of Hormuz
00:05as Iran escalates strikes on commercial ships.
00:09However, political risk research firm Eurasia Group says it will likely take until the end of March or early April
00:16to fully set up.
00:18With at least five cargo vessels hit in the region on Wednesday,
00:22Eurasia Group advises maritime stakeholders to expect a plan focused on ensuring safe and secure vessel movements when conditions permit.
00:32This is according to an assessment from the 47-nation Naval Partnership Joint Maritime Information Center.
00:39Countries have been scrambling to keep oil and commerce moving, despite traffic through the Strait remaining near zero.
00:45American media reports that the U.S. Department of Energy has said President Donald Trump and other officials
00:52are exploring additional options to keep the Strait open,
00:55including the possibility of naval escorts for tankers through the region.
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