Oil blockade would strip cash-strapped Iran of significant revenue stream amid economic crisis

By Steven Richards

By blocking Iranian exports in retaliation for the closure of the Strait of Hormuz, the Trump administration is poised to strip the cash-strapped regime in Tehran of one of its last streams of revenue.

President Donald Trump ordered the blockade to begin on Monday after negotiations in Pakistan between U.S. and Iranian officials ended in a stalemate. In those negotiations, Iranian officials steadfastly refused to drop their demand for a new role in governing the vital waterway.

Iran, which has effectively closed the Strait of Hormuz since the beginning of the conflict with the U.S. earlier this year, has exploited its position there to continue its own exports to Asia while those of its neighbors languished – providing the regime with a revenue stream to prop up its war effort…

READ FULL ARTICLE HERE… (justthenews.com)

 

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