The United States has once again almost completely blocked Iran’s path to selling crude oil in the global market. Following attacks on commercial ships in the Strait of Hormuz, the administration of President Donald Trump has intensified military operations and announced the cancellation of all special exemptions previously given to Iran for oil exports.
It is noteworthy that as a result of this decision, it will become difficult for Iran to export crude oil to other countries like before. Through reducing Iran’s oil sales, the US is attempting to strike at the country’s main source of income.
Alongside increasing economic pressure, the US has also launched fresh attacks on Iran’s military targets. Reports have emerged of air and missile strikes on the strategically important port of Bandar Abbas in southern Iran and on several coastal locations.
The US has described these military actions as a response to the attacks on commercial ships in the Strait of Hormuz. This operation was launched amid the recent instability in one of the world’s busiest maritime trade routes.
Iran has strongly opposed the US decision. Accusing the US of violating ceasefire-related understandings, Tehran has also issued a warning that it will give a befitting response.
