Unic Press UK: The President of the Islamic Republic of Iran, Hassan Rouhani is warning that should the United States force it to stop the sale of oil, there would be no shipment of oil through the Persian Gulf.
During a speech Tuesday in the city of Shahroud, Semnan Province, the Iranian President, Rouhani said:
“The US should know [this] that we are selling and will continue to sell our oil and it will not be able to block Iran’s oil exports. And it should also know that if it attempts to stop Iran’s oil [sales] someday, no oil will be exported from the Persian Gulf,” the Press TV reported.
The Persian Gulf includes Kuwait, Qatar, Saudi Arabia, Bahrain, Iran, Iraq, and United Arab Emirates.
According to the Energy Information Administration (EIA) of the United States:
“. . .the Strait of Hormuz is the world’s most important chokepoint, with an oil flow of 18.5 million b/d in 2016. The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, and in 2015 its daily flow of oil accounted for 30% of all seaborne-traded crude oil and other liquids. More than 30% of global liquefied natural gas trade also transited the Strait of Hormuz in 2016.”
It was on May 8, 2018 that President Donald Trump inked an Executive Order that terminated the U.S. participation in the Joint Comprehensive Plan of Action (JCPOA), claiming that deal had been a bad one for the world and America, insisting that a new agreement is long overdue.
On August 7, 2018, fresh sanctions hit the Islamic Republic of Iran given the U.S. President’s Executive Order [‘Reimposing Certain Sanctions With Respect To Iran’] of August 6, 2018, which imposed a range of sanctions on Iran’s trade and financial transactions, Iran’s automotive, energy, shipping and petroleum sectors, and many others. The U.S. government emphasized that it will not be doing business with those who do business with Iran.