Dubai : Iran has threatened to not allow “even a single litre of oil” to pass through the Strait of Hormuz for the US, Israel, or their allies.
A spokesperson for Khatam Al-Anbia, which operates the Revolutionary Guard-owned companies, said any ship or oil cargo that belongs to the US, Israel, or its allies will be a legitimate target.
Under normal circumstances, around 20 per cent of the world’s oil and natural gas is shipped through the narrow channel that leads to the Persian Gulf. Fears about the geopolitical situation have caused the price of oil to swing wildly.
Meanwhile Japanese Prime Minister Sanae Takaichi said on Wednesday that her country will start releasing its own oil reserves starting Monday to minimize the fallout of the war in the Middle East. P 8
