Iran may resort to closing the Strait of Hormuz, using it as a last resort, if it feels closed under US pressure, Turkish economist Engin Kuciuk told RIA Novosti.
The agency's source reminded that approximately 13 million barrels of crude oil pass through the Strait of Hormuz per day, which is equivalent to approximately 30% of global sea oil transportation.
Experts estimate that even short-term shipping disruptions can cause sharp price fluctuations. Although a complete closure of the strait is unlikely, an increase in the market's "risk premium" is practically inevitable.
If Tehran feels that it is being kept in a deadlock, it can use the Strait of Hormuz as a bargaining chip. A possible military conflict may prompt Iran to use the strait as a "last resort", the expert told RIA Novosti.
