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Alexey Kazartsev, Chairman of the International Banking Committee of the Financial and Business Association of Euro-Asian Cooperation (FBA EAC), is named among the report’s contributing experts. The authoring team also includes Alexander Baklanov (Executive Editor), Dmitry Efremenko, Murad Sadygzade, Ahmed Salem Al-Wahayshi, Nubara Kulieva, Igor Yaminsky, Alexey Gagarinov, Maxim Vasiliev, and Elmira Imamkulieva.
The report analyzes the transformation of the Strait of Hormuz from a vital maritime transport artery into an instrument of geopolitical leverage. The crisis, which intensified following military actions by the United States and Israel against Iran in February 2026, resulted in the de facto closure of the strait—a chokepoint that previously facilitated approximately 20% of global seaborne oil trade.
Contributors to the report emphasize that asserting control over strategic sea lanes no longer necessitates a traditional, full-scale blockade. Merely fostering an atmosphere of persistent threat—via naval mines, drones, missiles, and targeted strikes on vessels—is sufficient to render the strait a zone of profound economic uncertainty. Consequently, insurance premiums have surged tenfold, and freight rates have decoupled from underlying oil prices, emerging as an independent pricing determinant.
According to the International Energy Agency, the Bab el-Mandeb Strait, which serves as the primary alternative route, currently accommodates approximately 8.1 million barrels of oil per day. Nevertheless, vessel transit volumes are in decline: traffic through the Suez Canal in the second quarter was half of pre-conflict levels, while container shipments have plummeted by four-fifths.
In this context, Alexey Kazartsev, in his capacity as Chairman of the International Banking Committee of the FBA EAC, articulates the perspective of the financial community. He highlights that escalating insurance and logistics costs, coupled with the rerouting and elongation of supply chains, directly inflate the cost of cross-border settlements. This reality underscores the urgent need to develop alternative payment mechanisms that are resilient to such geopolitical shocks.
30 September, 2026
Alexey Kazartsev Named Among Experts in Joint HSE University and RIAC Report on the Hormuz Crisis
The analytical report titled "The Hormuz Crisis: A Prologue to the Struggle for Maritime Spaces," published on September 22, 2026, was jointly prepared by HSE University and the Russian International Affairs Council (RIAC). The document incorporates recommendations and feedback provided during the First Middle East Conference at HSE University (held on April 10, 2026) and other related events organized in collaboration with RIAC at the Faculty of World Economy and International Affairs of HSE University. These discussions featured prominent Russian experts, including Valentin Naumkin (Academician of the Russian Academy of Sciences), Irina Zvyagelskaya (Corresponding Member of the Russian Academy of Sciences), Vladimir Vasiliev (Doctor of Economic Sciences), Senator Andrei Denisov, as well as the Ambassadors Extraordinary and Plenipotentiary of Bahrain, the League of Arab States, and Palestine.
Alexey Kazartsev, Chairman of the International Banking Committee of the Financial and Business Association of Euro-Asian Cooperation (FBA EAC), is named among the report’s contributing experts. The authoring team also includes Alexander Baklanov (Executive Editor), Dmitry Efremenko, Murad Sadygzade, Ahmed Salem Al-Wahayshi, Nubara Kulieva, Igor Yaminsky, Alexey Gagarinov, Maxim Vasiliev, and Elmira Imamkulieva. The report analyzes the transformation of the Strait of Hormuz from a vital maritime transport artery into an instrument of geopolitical leverage. The crisis, which intensified following military actions by the United States and Israel against Iran in February 2026, resulted in the de facto closure of the strait—a chokepoint that previously facilitated approximately 20% of global seaborne oil trade.
Contributors to the report emphasize that asserting control over strategic sea lanes no longer necessitates a traditional, full-scale blockade. Merely fostering an atmosphere of persistent threat—via naval mines, drones, missiles, and targeted strikes on vessels—is sufficient to render the strait a zone of profound economic uncertainty. Consequently, insurance premiums have surged tenfold, and freight rates have decoupled from underlying oil prices, emerging as an independent pricing determinant.
According to the International Energy Agency, the Bab el-Mandeb Strait, which serves as the primary alternative route, currently accommodates approximately 8.1 million barrels of oil per day. Nevertheless, vessel transit volumes are in decline: traffic through the Suez Canal in the second quarter was half of pre-conflict levels, while container shipments have plummeted by four-fifths.
In this context, Alexey Kazartsev, in his capacity as Chairman of the International Banking Committee of the FBA EAC, articulates the perspective of the financial community. He highlights that escalating insurance and logistics costs, coupled with the rerouting and elongation of supply chains, directly inflate the cost of cross-border settlements. This reality underscores the urgent need to develop alternative payment mechanisms that are resilient to such geopolitical shocks.
The full text of the report is available on the website of the Russian International Affairs Council: https://russiancouncil.ru/analytics-and-comments/analytics/ormuzskiy-krizis-prolog-borby-za-morskie-....
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