The $4 million payment was up from the less than $1 million that some vessels were paying to cut in line at the Panama Canal as recently as early March.

The aim is to eventually create a contiguous corridor between southern Europe and the Persian Gulf.

The intensifying standoff over the Strait of Hormuz has revived the push to open a safe shipping route for fertilizer and other goods to prevent a humanitarian crisis.

India is among the economies most exposed to the war in the Middle East, importing about 90% of its crude oil and more than half of its liquefied petroleum gas.

Delta said it still sees cleaner fuels as one of the most important ways to decarbonize, but its slow development threatens its climate ambitions.

No vessels made it through the blockade, which is made up of more than a dozen warships and 10,000 service personnel, according to CentCom.

The announcement opens a small window into the workings of the Geneva-based firm that has increasingly dominated worldwide shipping in recent years.

If Trump orders the Navy to blockade the strait itself, he puts U.S. assets in danger of Iranian missiles.

Sulfuric acid prices have been rising since the start of the Iran conflict, as it’s a product of oil and gas refining in the Middle East.

European allies are pushing to limit any financial benefit to Russian President Vladimir Putin, and Asian nations are grappling with energy shortages from the war with Iran.