Iran Promises to Secure Major Oil and Gas Waterway

Iran pledges that it will secure the Strait of Hormuz and not allow any disturbance in shipping in the key oil transport waterway.

The country rejected plans for a European maritime force after seizing a British ship last week. Meanwhile, President Trump says claims that Iran captured 17 CIA spies is a total lie.

"There are a lot potential triggers that either the United States or Iran could choose to act on, or this could easily escalate into an actual conflict," says Emily Hawthorne, Middle East and North Africa analyst with Statfor geopolitical intelligence firm.

She says Iran wants U.S. sanctions lifted, but doesn't want to deal with Trump.

"Iran knows they're going to have to negotiate in some sense, but for now they're really trying to hold off on that and trying to build up leverage for a future negotiation with an administration they hope changes."

One-fifth of the world’s oil and a quarter of its liquefied natural gas flow through the Strait of Hormuz.

"Oil companies, shippers, insurers, anybody involved in shipping in the Persian Gulf right now is actively looking for ways to lower the risks and ensure the safe passage of commercial vessels," says Hawthorne.

 

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