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Hormuz does not need to be internationalized.
It needs to be institutionalized.
For years, the world treated the Strait of Hormuz like a permanent utility.
Always open.
Always flowing.
Always someone else’s problem.
Until war reminded everyone that geography is not neutral.
Chokepoints are territorial.
Political.
Economic.
And when war comes, they become leverage.
This is where most commentary becomes lazy.
It jumps straight to panic.
Tolls.
Closure.
Collapse.
But the more interesting question is not what Hormuz looks like in war.
It is what it could have — and should have — looked like before the war.
But here we are.
And perhaps now, finally, it is time to correct that.
Because the better comparison for Hormuz was never a canal.
It was the Strait of Malacca.
Malacca shows something people often miss:
A strategic waterway does not need to become a toll booth to become an economic engine.
It can become a platform.
The littoral states around Malacca did not build prosperity by charging every passing vessel for the right to cross.
They built clusters.
Ports.
Fuel.
Transshipment.
Repair.
Logistics.
Warehousing.
Finance.
Insurance.
Services.
They monetized adjacency.
Trust.
Safety.
And the ecosystem around the passage.
That is the model Hormuz never fully developed.
Not because the geography was wrong.
Not because the traffic was insufficient.
But because Hormuz was never allowed to live as infrastructure.
It was trapped as a security theater.
For decades, the conversation around Hormuz has been dominated by fleets, threats, sanctions, deterrence, escalation, and disruption.
Too little was built around the idea that this strait could also become a governed commercial corridor.
Oman has confirmed talks with Iran on options to ensure smoother passage through the Strait of Hormuz under current regional conditions.
That matters.
Because it means the framework conversation is no longer theoretical.
It has begun.
The future value of Hormuz is probably not in turning it into a crude toll road.
It is in building the economic architecture around it:
Ports.
Bunkering.
Ship services.
Storage.
Trade finance.
Marine insurance.
Logistics zones.
Industrial clustering.
The real opportunity is not to charge the world for crossing.
It is to become indispensable to the world because it crosses.
There is a lot of noise around recent passage, tolls, and shutdown claims.
Some of it is exaggerated.
The more accurate picture is that war created disruption, Iran used the strait as leverage in wartime conditions, and selective passage and negotiation have existed alongside that reality.
Hormuz is not only a place where disruption happens.
It is also becoming a place where a new framework could be negotiated.
Not to internationalize the strait.
Not to strip sovereignty.
But to institutionalize it in a way the region and the world can actually live with.
Malacca offers the comparison.
Hormuz offers the urgency.
Oman and Iran may now be offering the beginning of a framework.
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