I shared comments with Deepthi Nair for The National News on Israel’s latest strikes on Iran’s energy infrastructures, what could come next and consequences on trade and regional economies.
After summing up the extent of the damage done to Iran’s energy infrastructure since the start of Israel’s “Rising Lion” operation on June 13th, I commented that “potential future targets may include the Kharg oil terminal, which is where about 90 per cent of Iran’s oil exports leave the country, mostly to China; the Abadan refinery, which produces fuel for about 25 per cent of Iran’s domestic needs; and Mahshahr oil terminal, which is one of the country’s main distribution hubs.“
I added that “We must also consider the Strait of Hormuz, which is a critical chokepoint for global oil and gas trade. It could be threatened if Iran decides to retaliate by trying to block traffic”, even though this scenario may not be the most immediate one at this stage.
Discussing the cascading impact of further attacks, I noted that “If the attacks on Iran’s energy infrastructure continue and aggravate, that could also have a cascading effect on countries reliant on Iranian oil, particularly China. About 90 per cent of Iranian oil ends up in China“.
Read the full article here.
Picture credits: Associated Press
Be First to Comment