The Siege of the Strait of Hormuz...
The Siege of the Strait of Hormuz... We are witnessing a new chapter in the Gulf crisis. American forces have begun preventing Iranian ships from passing through the Strait of Hormuz, while allowing ships from other Gulf states to do so. Whatever Iran's reaction to this American action, it's clear that Iran will not be deprived of exporting 2 million barrels per day, as it has alternative solutions to address this problem. However, this figure will decrease significantly, and Iran will be deprived of at least one million barrels per day in exports. Over time, as the oil accumulates, Iran will be forced to reduce its production and resort to storage, depending on its storage capacity. ...and that there are pipelines for transporting Iranian oil and regional gas, such as the Tabriz-Ankara pipeline for transport to Turkey, and then the Iran-Armenia gas pipeline... However, Iran will be forced to reduce its export figures, and consequently, we are facing a large stockpile over t...