How long can Iran survive the US’s Hormuz blockade?
Summary
President Donald Trump said the US naval blockade of Iranian ports is causing Iran to lose money and struggle to pay its military and police. The blockade started on April 13, and in response, Iran closed the Strait of Hormuz to foreign ships and captured some vessels. Despite the blockade, Iran continues to export oil and has increased its earnings compared to before the conflict began.Key Facts
- The US naval blockade of Iranian ports began on April 13, 2024.
- President Trump claims Iran is losing $500 million daily and facing financial collapse.
- Iran closed the Strait of Hormuz, blocking foreign shipping and capturing some ships.
- The Strait of Hormuz is a vital passage where 20% of the world’s oil and natural gas shipments pass.
- Iran still exports about 1.7 million barrels of oil per day, slightly less than before the blockade.
- Oil prices for Iranian exports have stayed above $90 per barrel, often over $100.
- Iran has earned about $5 billion from oil exports in the past month, 40% more than before the conflict.
- Iran says the blockade is illegal and demands it be lifted for peace talks and stability.
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