Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list

Iran's Rouhani threatens to block Hormuz Strait if US tightens oil sanctions

Commodities | Electricity | Energy | Renewables | Energy Transition | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Refined Products | Metals | Steel | Raw Materials | Petrochemicals | Polymers | Coronavirus

Market Movers Europe, Nov 30-Dec 4: OPEC+ to make crucial decision, as European steel expects Italian announcement


Platts Market Data – Oil

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Agriculture | Biofuels | Electric Power | Renewables | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel

FEATURE: Neste to close Naantali as refinery closures in Europe gather pace

Energy | Emissions | Energy Transition | Oil | Raw Materials

Commodity Tracker: 4 charts to watch this week

Iran's Rouhani threatens to block Hormuz Strait if US tightens oil sanctions

Vienna — Iranian President Hassan Rouhani on Tuesday threatened to block all oil shipments through the Strait of Hormuz if the US tightens sanctions that squeeze Iran's exports down to zero.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"The US should know that we are selling our oil ... and it is not able to stop Iran's oil exports," Rouhani said, according to a report in state-owned news service IRNA. "And it should know if it intends to block our oil someday, no oil will be exported through the Persian Gulf."

The Strait of Hormuz is the world's busiest oil chokepoint at the mouth of the Persian Gulf. About 18.5 million b/d of crude and refined products, about 30% of all seaborne oil exports, transited the 21-mile wide channel in 2016, according to the US Energy Information Administration.

Rouhani made a similar threat in July, in response to US calls to stop Iran's oil exports completely.

The US reimposed sanctions targeting Iran's oil sales on November 5, but has issued waivers to eight countries to continue their purchases through May 4.

A senior US State Department official said Monday that sanctions have already cut Iranian exports by more than 1 million b/d.

Loadings had averaged 2.4 million b/d from November 2017 through April 2018, according to S&P Global Platts Analytics, which expects them to stay at around 1 million b/d by the next US sanctions deadline in May.

"You will see further decreases in Iranian imports in the coming months," said Brian Hook, the State Department?s special representative for Iran.

-- Staff,

-- Irene Tang,