Wednesday 21 March 2012

'Iran will not block the Straits of Hormuz'

Probably the most significant news of the day




-- Iran is showing restraint in the wake of the unprecedented SWIFT shut out. Needless to say, if an attack is launched all bets are off. We are nowhere near out of the woods by any means. We have to see how Iran copes and whether it will be able to break U.S. dollar tyranny over energy trading. In my opinion it has no other options. -- MCR
Iran Now Says It Will Not Block The Strait Of Hormuz
Hoping to ease concern and soothe the roiling oil markets, Iran has reportedly told Kuwait it will not try and block the Strait of Hormuz that carries nearly 40 percent of the world's crude.




20 March, 2012


Reuters reports Kuwait's ruler announced the Iranian assurance over his state run news agency KUNA on Tuesday.

Via Yahoo:

After threats by Iran that it could shut the most important oil transit channel in the world, if Western governments stop it from selling crude, Kuwait's emir and other Gulf leaders have sought assurances that Tehran will not follow through with the threats.

"(We) have contacted officials in Iran to ensure that no action is taken to close the Strait of Hormuz," according an English version of his remarks to Japanese press distributed by Kuwait state news agency KUNA. "We have received assurances from Iran that it will not take this step," the emir said during a visit to Japan, one of the Gulf oil exporter's biggest customers.

Kuwait produces 3 million barrels a day from its fields and ships it all through the Strait of Hormuz.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.