In another installation of the dramatic series of exchanges between the U.S. and Iran, White House Press Secretary Jay Carney said Iran is making threats on the Strait of Hormuz because the country is in a position of weakness, The Hill reported.
“It’s the latest round of Iranian threats and it’s confirmation that Tehran is under increasing pressure for its continued failure to live up to its international obligations,” Carney said at a press briefing on Tuesday. “Iran is isolated and seeking to divert attention from its domestic problems.”
According to the news outlet, U.S. and Iranian officials have been launching proverbial volleys since Iran threatened last week to close the Strait of Hormuz. This waterway is a key passage into the Persian Gulf through which nearly 20 percent of the world’s oil supply travels.
Bloomberg reported that Iran’s closing of the Strait would cut demand for the largest tankers by blocking their busiest route. Erik Nikolai Stavseth, an Oslo-based analyst at Arctic Securities ASA, noted that the closing of the passage would lead to a drop in volumes and negative ton-miles for oil companies and their vessels.