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Iran Could Choke Oil Flow Against Own Interest
Iran holds potential to halt about 40 percent of world oil trade by closing the Strait of Hormuz and disrupting Iraqi exports. Analysts warn a blockade could spike prices to unprecedented levels, but Iran would pay a personal price as petrodollars fund its budget, with supplies and markets balancing the risk of retaliation and sanctions.
MENTIONED IN THIS ARTICLE
Iran
Vienna
Austria
Tehran
United States
Islamic Republic
Persian Gulf
Washington
White House
Pentagon
Middle East
John Hall
John Hall Associates
London
OPEC
Strait of Hormuz
Tran
Ayatollah
Ali Khamenei
U.S
Anthony Cordesman
Center For Strategic and International Studies
Abu Musa
USS Enterprise
Cordesman
Iraq
Michael Klare
America
Mustafa Alani
Gulf Research Center
U.S. Department of Energy
U.N
Europe
International Energy Agency