On the 11th day of the ongoing war between America, Israel and Iran, Iran has given a big statement. Iran said that it will not let even a liter of oil go out. Also, new conditions have been imposed for ships passing through the Strait of Hormuz, which may affect the global oil supply.
Iran-Israel War Day 11: The ongoing war between America, Israel and Iran has now reached its 11th day. Meanwhile, Iran has taken a tough decision regarding oil supply. Iran has clearly said that it will not allow even a single liter of oil to go out of its territory. After this statement, concerns regarding the global energy market and maritime trade have increased a lot.
Iran’s new conditions for ships passing through the Strait of Hormuz
According to the report of Israeli media Ynet, Iran’s army Islamic Revolutionary Guard Corps (IRGC) has set new conditions for ships passing through the Strait of Hormuz. According to the report, ships of some countries may be allowed to pass through this sea route, but for this those countries will first have to expel the ambassadors of Israel and America from their country. This condition of Iran is being considered as a strategy to create big pressure in regional politics.
Why is the Strait of Hormuz important for the world?
The Strait of Hormuz is one of the world’s most important maritime trade routes. About 20% of the oil supplied worldwide is transported through this sea route. If the movement of ships remains closed from here, it can have a direct impact on the global oil market and fuel prices.
Plan to impose security tax on ships
According to the report of American channel CNN, Iran is planning to impose security tax on ships passing through this route. It is being told that this fee can be charged especially from those oil tankers and merchant ships which are connected to America’s allied countries. If this happens, it could have a major impact on international maritime trade and energy supply.
Saudi Aramco’s warning amid Iran war
Saudi Aramco, the world’s largest oil company, has warned that if the war involving Iran continues for a long time and the movement of ships in the Strait of Hormuz stops, then a major crisis could arise in the global oil market. Interruption in oil supply may affect the energy security and economy of many countries. Aramco CEO Amin H. Nasser said that if this situation persists for a long time, its impact will not be limited to the oil market only but the entire world economy could be affected. He said that the global market is already facing many challenges and in such a situation, interruption in oil supply can create a serious crisis.