TEHRAN — Closing off the Gulf to oil tankers will be “easier than drinking a glass of water” for Iran if the Islamic state deems it necessary, state television reported on Wednesday, ratcheting up fears over the world’s most important oil chokepoint.
“Closing the Strait of Hormuz for Iran’s armed forces is really easy … or as Iranians say it will be easier than drinking a glass of water,” Iran’s navy chief Habibollah Sayyari told Iran’s English language Press TV.
“But right now, we don’t need to shut it as we have the Sea of Oman under control and we can control the transit,” said Sayyari, who is leading 10 days of exercises in the Strait.
Tension has increased between Iran and the West after EU foreign ministers decided three weeks ago to tighten sanctions on the world’s No. 5 crude exporter over what the UN nuclear watchdog says is an attempt to design an atomic bomb, but left open the idea of an embargo on Iranian oil.
Iran, which says it is developing nuclear energy for peaceful purposes, warned on Tuesday it would stop the flow of oil through the Strait of Hormuz in the Gulf if sanctions were imposed on its crude exports.
The Strait is a 50-kilometre wide passageway through which about a third of the world’s oil tanker traffic sails. Whoever controls this crucial choke-point virtually controls Middle East oil exports.
“The importance of this waterway to both American military and economic interests is difficult to overstate,” said a report by geopolitical analysts at the global intelligence firm Stratfor.
The announcement over the possible closure of the only access channel for eight U.S.-aligned, Gulf Arab states to foreign markets, pushed up international oil prices on Tuesday although they slipped back on Wednesday in thin trade and as the market dismissed it as rhetoric.
“The threat by Iran to close the Strait of Hormuz supported the oil market yesterday, but the effect is fading today as it will probably be empty threats as they cannot stop the flow for a longer period due to the amount of U.S. hardware in the area,” said Thorbjoern bak Jensen, an oil analyst with Global Risk Management.
