Arabic version: إيران تواجه ضغوطًا اقتصادية بسبب الحصار البحري الأمريكي
United States President Donald Trump has claimed Iran is “collapsing financially” and said the country is losing millions of dollars a day due to Washington’s naval blockade of Iranian ports. In a post on his Truth Social platform, Trump wrote: “Iran is collapsing financially! They want the Strait of Hormuz opened immediately – Starving for cash! Losing 500 Million Dollars a day. Military and Police complaining that they are not getting paid. SOS!!!”
According to Al Jazeera, the US blockade of Iranian ports began at 14:00 GMT on April 13. Since then, the US has fired on and seized an Iranian-flagged tanker near the Strait of Hormuz, and redirected ships in the open seas carrying cargo to or from Iran. In retaliation, Iran has closed the Strait of Hormuz to foreign shipping, capturing several foreign-flagged ships while previously allowing some deemed friendly to pass.
Iran’s First Vice President, Mohammad Reza Aref, emphasized that the security of the Strait of Hormuz is not free. He indicated that the choice lies between maintaining a free oil market or incurring significant costs globally.
Despite the blockade, Iran has managed to maintain its oil exports, accounting for about 80 percent of its total oil sales. In March, Iran exported 1.84 million barrels per day (bpd) of crude oil, with the price per barrel consistently above $90. Analysts suggest that while the blockade is impacting Iran economically, the country has the resilience to endure it.
Frederic Schneider, a nonresident senior fellow at the Middle East Council on Global Affairs, noted that Iran has prepared for such conflicts, having stored significant crude oil reserves. However, he acknowledged that the blockade adds economic pressure, as several civilian ships have been captured. The future of the blockade remains uncertain, particularly with impending legislative challenges for Trump.
Overall, while the US blockade aims to weaken Iran’s economy, the situation continues to evolve, with both nations navigating complex political and economic landscapes.
