New Delhi, S&P Global Ratings on Thursday said the reopening of the Strait of Hormuz would lower tail risk for Asia Pacific region, but supply normalisation will be uneven and costly.
On June 17 the United States and Iran reached a memorandum of understanding that included a commitment to reach a final agreement within 60 days. The MoU also refers to reopening the Strait of Hormuz and passage of commercial ships without any charge.
