Iran Threatens to stop oil exports thru Persian Gulf
Posted: Thu Jul 05, 2018 12:00 pm
Iran Threatens to Stop Hormuz Oil Exports If Own Crude Cut
Iran will stop oil exports from the Strait of Hormuz, the world’s most important oil chokepoint, if the U.S. succeeds in halting crude sales from the Persian Gulf nation, a Revolutionary Guards official said. “Any hostile attempt by the U.S. will be followed by an exorbitant cost for them,” said Esmail Kowsari, deputy commander of the Sarollah Revolutionary Guards base in Tehran, according to the Young Journalists Club, affiliated with Iran’s national broadcaster. “If Iran’s oil exports are to be prevented, we will not give permission for oil to be exported to the world through the Strait of Hormuz.”
The Strait of Hormuz is at the mouth of the Persian Gulf, the world’s biggest concentration of tankers that carry about 30 percent of all seaborne-traded crude oil and other liquids during the year. President Donald Trump decided in May to back out of the 2015 nuclear accord with Iran, with sanctions set to be renewed in November. The U.S. threats come amid rising tensions, pitting Iran against Saudi Arabia and other Gulf Arab nations who maintain close ties with Trump.
Read Newsmax: Iran Threatens to Stop Hormuz Oil Exports If Own Crude Cut | Newsmax.com
https://www.newsmax.com/finance/streett ... 7324c9e2b8
Iran, OPEC’s third-biggest oil producer, exported 2.28 million barrels a day of crude in June, according to the Oil Ministry. If the U.S. is successful in halting even half of Iran's oil exports, it will cause a big increase in the price of oil because Saudi Arabia cannot make that up.
Iran will stop oil exports from the Strait of Hormuz, the world’s most important oil chokepoint, if the U.S. succeeds in halting crude sales from the Persian Gulf nation, a Revolutionary Guards official said. “Any hostile attempt by the U.S. will be followed by an exorbitant cost for them,” said Esmail Kowsari, deputy commander of the Sarollah Revolutionary Guards base in Tehran, according to the Young Journalists Club, affiliated with Iran’s national broadcaster. “If Iran’s oil exports are to be prevented, we will not give permission for oil to be exported to the world through the Strait of Hormuz.”
The Strait of Hormuz is at the mouth of the Persian Gulf, the world’s biggest concentration of tankers that carry about 30 percent of all seaborne-traded crude oil and other liquids during the year. President Donald Trump decided in May to back out of the 2015 nuclear accord with Iran, with sanctions set to be renewed in November. The U.S. threats come amid rising tensions, pitting Iran against Saudi Arabia and other Gulf Arab nations who maintain close ties with Trump.
Read Newsmax: Iran Threatens to Stop Hormuz Oil Exports If Own Crude Cut | Newsmax.com
https://www.newsmax.com/finance/streett ... 7324c9e2b8
Iran, OPEC’s third-biggest oil producer, exported 2.28 million barrels a day of crude in June, according to the Oil Ministry. If the U.S. is successful in halting even half of Iran's oil exports, it will cause a big increase in the price of oil because Saudi Arabia cannot make that up.