How US-Israel attacks on Iran threaten the Strait of Hormuz, oil markets
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How US-Israel attacks on Iran threaten the Strait of Hormuz, oil markets
"About 20-30 percent of global oil and gas supplies are shipped through the Strait of Hormuz. The US-Israeli attacks on Iran have triggered swift retaliatory attacks from Tehran, targeting their assets in multiple Middle East countries, including Israel, Qatar, the United Arab Emirates, Kuwait, Bahrain, Jordan, Saudi Arabia, Iraq and Oman."
"On Saturday, an official from the European Union told the Reuters news agency that vessels crossing the strait have been receiving very high frequency (VHF) transmissions from Iran's elite Islamic Revolutionary Guard Corps (IRGC), saying no ship is allowed to pass the Strait of Hormuz. However, the EU official added, Iran has not officially closed the strait."
"The Strait of Hormuz is located between Oman and the UAE on one side and Iran on the other. It links the Arabian/Persian Gulf with the Gulf of Oman and the Arabian Sea beyond. It is 33km (21 miles) wide at its narrowest point, with the shipping lane just 3km (2 miles) wide in either direction, making it vulnerable to attack."
The Strait of Hormuz, a critical maritime chokepoint between Oman, the UAE, and Iran, handles 20-30% of global oil and gas supplies. Following US-Israeli attacks on Iran, Tehran has threatened to shut down this vital waterway, with the Islamic Revolutionary Guard Corps transmitting warnings to vessels. While Iran has not officially closed the strait, tanker owners have suspended shipments and countries like Greece have advised vessels to avoid transit. The strait's narrow width—just 3km at its shipping lanes—makes it vulnerable to disruption. Any closure would destabilize global energy markets and create worldwide economic consequences.
Read at www.aljazeera.com
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