The United States is about to test how far it can squeeze Iran without upending global oil supplies. President Trump has ordered the US Navy to begin a blockade of ships entering or leaving Iranian ports through the Strait of Hormuz in what represents "a reversal of the US approach so far," reports the New York Times' Ephrat Livni. Even while at war with Iran, the US has allowed Iranian oil to pass through the strait and be sold in an attempt to keep up global supplies and prevent prices from jumping even higher. Now, its approach is to injure Iran's ability to wage war by targeting its oil industry—essentially eliminating its revenue through oil exports.
That comes with risks. China and other countries that rely on Iranian oil could suffer as well, Harvard's James Kraska, a professor of international maritime law, tells Livni. And Iran has warned prices will only jump further. On one hand, non-Iranian vessels, including from Persian Gulf countries, could begin moving through the strait, allowing a smoother oil flow and potentially lower prices. On the other hand, Iranian-linked ships can attempt to shield their identities to blend in with the crowd. Iran could also fight back, firing on ships and deploying mines, meaning ships may not be willing to risk the journey at all. As Livni writes, a lot depends on how Iran responds beginning Monday. For the full analysis, read his work at the Times.
,
uBlock 
,
and
Ghostery 
)
