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The Iranian government could wreak real havoc on the global economy not by closing the Strait outright, but rather by narrowing it. By limiting commercial traffic flowing through the crucial waterway (for example, via military exercises), the Iranian regime can successfully drive up the marginal price of world oil without providing the United States with a clear justification to act.

Over the weekend, Volodymyr Zelensky — a comedian best known for his leading role in the popular Ukrainian television series "Servant of the People" — decisively trounced the country's sitting president in the second round of national elections there to capture Ukraine's top political post.