Iran Just Announced The Unthinkable, Shocks Everyone With A Huge Warning | West Is Terrified!
Iran Just Announced The Unthinkable, Shocks Everyone With A Huge Warning | West Is Terrified!
#economy #oil #gas
Let’s delve into the numbers. Over 40% of the globe’s oil exports, a staggering 21 million barrels daily, navigate through the Strait, as reported by the US Energy Information Administration. Picture this: more than $1.5 billion worth of oil traverses this waterway every single day. But wait, there’s more. Add approximately 33% of the world’s daily liquefied natural gas (LNG) exports and a multitude of other goods flowing through the Strait, and you’ve got a potent concoction of global trade dynamics. The Strait of Hormuz isn’t merely a water route; it’s the pulsating heart of the global economy.
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Now, let’s address the current buzz surrounding the Strait. The US military is contemplating the deployment of armed guards on commercial ships navigating through these critical waters. Why? The aim is to thwart Iran’s attempts to seize control of civilian and commercial vessels in this strategic area. In response to this revelation, Iran’s Revolutionary Guard’s navy is upping the ante by deploying drones. Their mission is crystal clear – intensify surveillance and apply additional pressure on the Strait of Hormuz. Picture this strait as the VIP entrance for global oil transportation, right between Iran and Oman, separating the Gulf of Oman and the Persian Gulf. It’s like the backstage pass for the world’s oil journey.
Now, let’s shift our focus to Europe, a significant player in this geopolitical chess game. A whopping one-fifth of the world’s oil, a staggering 20.5 million barrels per day, takes its grand journey through the Strait of Hormuz annually. Add to that 20% of the world’s liquefied natural gas (LNG), totaling a cool 80 million metric tonnes. Zooming into Europe’s specifics, the European Union rolled out the red carpet for about 1.9 billion cubic meters of LNG from Qatar in 2022. Meanwhile, Iraq, a crucial oil partner, shipped around 21.4 million tonnes of crude oil to the EU. Not to forget Uncle Sam, the EU’s second-largest crude oil supplier, contributing around 10% to 13% of their crude oil imports. That’s a solid 1.4 million barrels of crude oil and condensate daily through the Strait of Hormuz.
Now, let’s throw in a curveball – the Strait isn’t just a passageway; it’s a geopolitical hotbed. Iran has a penchant for detaining international tankers from countries like the US, Japan, Saudi Arabia, Singapore, and South Korea, citing alleged shipping violations. Even smaller vessels from places like Tanzania and the Marshall Islands aren’t exempt from Iran’s scrutiny.
Let’s rewind a bit. The US attempted to put the squeeze on Iran with sanctions to curb its nuclear ambitions. The UN, EU, and the UK joined the party, unleashing a cascade of sanctions covering nuclear activities, energy, missiles, arms, shipping, banking – you name it. Iran retaliated, waving the threat of disrupting or clamping down on the Strait of Hormuz. Imagine the chaos in global oil and energy trade if that were to happen! Fast forward to the present, and the Israel-Hamas conflict adds another layer of complexity. If this spills over into a full-blown Middle Eastern mess, with Iran supporting groups like Hamas, Hezbollah, and the Houthi, the situation could escalate. These groups aren’t just political players; they serve as Iran’s weapons testing ground. In the event of a larger Middle Eastern conflict, the United States and the European Union may impose additional international sanctions on Iran due to its indirect role in accelerating the situation.
Now, let’s talk about Iran’s recent move to arm its navy with drones, a decision reverberating through the Strait of Hormuz. The U.S. is responding, and if tensions escalate, Europe’s crude oil supply could face jeopardy. This comes at a challenging time with Europe already grappling with recovery from the ongoing Russia-Ukraine conflict. Adding to Europe’s concerns is Iran’s continued supply of drones and designs to Russia, despite international requests to halt. Russia, in turn, is gearing up to manufacture more drones based on Iranian designs, specifically targeting Ukrainian energy facilities. The EU is expressing deep concern, foreseeing potential impacts on the Russia-EU oil supplies.
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