Iran Is Making Putin’s Mistake: Tehran’s Bid to Blackmail the World Over Hormuz Could Leave It Controlling Nothing at All

Iran is banking on a $40 billion payday from new tolls in the Strait of Hormuz — but Gulf states, Washington, and Asian buyers are racing to build pipelines, corridors, and supply deals that bypass the waterway entirely. Analysts warn Tehran may be repeating Putin's gas blunder and China's rare-earth misstep.