Iran Threatens Again to Close Strait of Hormuz
The agreement reached by the European Union to impose new sanctions on Iran and its oil exports have ratcheted up the rhetoric, if not also the possibility, that the Islamic Republic would close the Strait of Hormuz. About 15%-20% of…
The agreement reached by the European Union to impose new sanctions on Iran and its oil exports have ratcheted up the rhetoric, if not also the possibility, that the Islamic Republic would close the Strait of Hormuz. About 15%-20% of the world’s supply of crude passes through the Strait every day.
Iran has also said that it would conduct another round of naval war games in February in another move seen as a threat to traffic through the Strait.
In addition to placing an embargo on future oil purchases from Iran, the US and the EU have agreed to freeze Iranian assets in foreign banks and to make it impossible for Iran to collect payments for its oil shipments.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
