Alan Kohler

Music and more.

Music and more.

Good morning, Carrington.

Well, look, not very optimistic, to be honest.

But look, 60 days in this setup, 60 days is a long time.

Anything could happen, really.

Trump's threats to recommence bombing and drop bombs on their heads is obviously not very helpful.

And Israel's attacks on Lebanon and Hezbollah in Lebanon are obviously not helpful either.

So look, who knows what's going to happen.

The thing is that the Memorandum of Understanding didn't mention

the Persian Gulf Strait Authority that Iran has created, which is now controlling the Straits of Hormuz.

And they have imposed a mandatory insurance.

So ships have to take out insurance.

on top of their existing insurance, which is like a toll.

So basically Iran is behaving like it's running the strait.

The Memorandum of Understanding did mention that there would be discussions between Iran and Oman, which is on the other side of the strait, about managing the strait in future.

But as to what that exactly means is impossible to know.

I mean, and there's no suggestion at this stage that the Persian Gulf Strait Authority that Iran has set up will somehow disappear.

I mean, I think that what's happened as a result of this war is that Iran has gone from not controlling the Strait of Hormuz to controlling it.

That's what's happened.