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Wednesday, 20 June 2018


Tehran dictates the price of oil

2012-01-10 17:12

A potential ban on oil exports from Iran by the EU and the possibility of overlapping of the Strait of Hormuz, through which nearly a quarter of "black gold" runs, threatens the collapse of the already fragile global economy. In the event of a protracted conflict, oil prices could reach $ 200-250, which benefits Russia, but then, as a result of global recession, they may subside significantly lower than the current $ 110.

The conflict surrounding the Iranian nuclear program threatens to turn the global economy significantly greater problems than the instability in neighboring oil-producing countries - Libya and Syria. Following the ban on oil exports from Iran by the U.S., the European Union is preparing to impose analogical sanctions against Iran. In response, Iranian authorities, whose regime is mainly based on exports of "black gold", promise to overlap the Strait of Hormuz - the "bottleneck" in the Persian Gulf, through which a quarter of the world's oil runs (according to various estimates, 10-20 million barrels. per day).

In response, the U.S. promised to use military force and unblock delivery, Interfax reported. "Our position is very clear - the U.S. would not tolerate the overlap of the Strait of Hormuz. This is the red line that they cannot pass, and we will respond to it", said the U.S. Secretary of Defense Leon Panetta.

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