Former Iran Economy Minister calls for control over the Strait of Hormuz for 100 days

The former Iranian Economy Minister, Ehsan Kahndouzi, shared on X what would be his plan to stop the US from joining the conflict and pressure for a diplomatic end to hostilities.

He wrote: “Starting tomorrow, for 100 days, no oil tankers or LNG cargoes will be able to pass through the strait without Iran’s approval.
This policy is decisive if it is implemented “in a timely manner.” Any delay in its implementation means enduring more war inside the country.
Trump’s battle must be ended with a combination of economy and security.”

This would definitely trigger another surge in oil prices given that the Strait of Hormuz is the world’s most important oil chokepoint responsible for 20% of global daily exports. This would also impact negatively global growth and lead to a selloff in risk assets.

It’s not clear if it’s just his opinion or a plan under consideration by the Iranian government, but it’s a risk to keep an eye on given the potential US involvement in the conflict.

This article was written by Giuseppe Dellamotta at www.forexlive.com.