Sri Lanka, July 16 -- Iran and the United States (US) are at war again, the ceasefire having crumbled before our very eyes. There was only a brief lull in the war, which began on February 28, following a 14-point Memorandum of Understanding (MoU) and a ceasefire negotiated through Pakistan and Qatar. The focus of the War has now basically shifted from reining in Iran's nuclear ambitions to controlling the Strait of Hormuz, through which around 20 percent of the world's crude oil supply passes, apart from Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG).

Iran wants to levy a toll (to be shared with Oman) on all ships passing through the Strait, while US President Donald Trump has also floated the idea of the US assuming contro...