Iran has declared that not a single litre of oil will be exported from the Gulf while its conflict with the Donald Trump administration and Israel continues. The warning comes after a series of attacks on oil infrastructure and shipping in the Strait of Hormuz, a critical passage for nearly 20% of global crude oil trade.
Trump had earlier suggested the conflict would “end soon”, a claim that helped ease Monday’s spike in oil prices, which had surged past $100 per barrel due to Iranian attacks on shipping and strikes on Saudi and Bahraini oil facilities. Despite this, Iranian officials and military leaders have vowed to continue the offensive.
The Iranian Revolutionary Guards Corps stated that “the Iranian armed forces will not allow the export of a single litre of oil from the region to the hostile side and its partners until further notice”, emphasizing that Tehran will determine the end of the war.
Iran’s Foreign Minister, Abbas Araghchi, reinforced this stance, warning that missile attacks on US and Israeli targets would continue “as long as needed and as long as it takes.”
Regional and global responses are already underway:
- Egypt raised fuel costs by up to 30%.
- Pakistan pledged naval escorts for commercial shipping.
- France dispatched warships to the region.
- Aramco warned of catastrophic consequences for global oil markets if shipping remains blocked.
Meanwhile, Benjamin Netanyahu stated that Israel would continue to act against Iran while hoping that the Iranian population could challenge their government.
Analysts warn that the situation is causing rare volatility in global oil markets, with investors reacting sharply to each development. French President Emmanuel Macron and NATO allies are coordinating defensive measures, including convoy escorts and missile defense deployments, to stabilize shipping in the Gulf.
