US Iran Tension: After the tense war between America and Iran that lasted for about six weeks, the situation has definitely calmed down, but permanent peace still seems far away. Instead of subsiding, the tension between Iran led by Masoud Pezeshkian and Donald Trump is emerging in a new form. After the failure of the talks held in Islamabad, the tension between the two countries has intensified.
Trump’s new warning
US President Donald Trump has increased the pressure on Iran and warned that if it does not open the Strait of Hormuz, America will take strict action. Trump has even hinted that America may impose a naval blockade on this important oil route. It is noteworthy that about 20 percent of the world’s crude oil is supplied through this route. This strategy of Trump is not new. Earlier, he had created similar pressure against China, threatening to stop exports and impose 100 percent tariff. Now the same pressure policy is being adopted against Iran also.
Iran on the path of China
Iran’s reaction also seems to be similar to China’s strategy. When America imposed tariffs on China, China responded by banning the export of rare earth minerals. These minerals are very important for defence, electric vehicles, energy and electronics sectors. China produces about 90 percent of the world’s rare earths, whereas America has only one mine and is largely dependent on China. Now Iran is also using the Strait of Hormuz as its biggest weapon of pressure. He wants to force America to negotiate by affecting global oil supply.
Tension increased on the Strait of Hormuz
Before the war, the strait was considered an international route, where Iran merely monitored and occasionally stopped or harassed ships. But now the situation has changed. Iran is now directly controlling the movement of ships and deciding which ships can pass when and under what conditions. Not only this, Iran is now also trying to charge fees in exchange for providing safe passage. This situation has become a matter of concern for the Gulf countries, especially after Iran’s attacks on energy bases and business centers, confidence has further weakened.
Market turmoil, rise in oil prices
The impact of this conflict is now clearly visible in the global markets. After Trump’s blockade warning, Brent crude prices have increased by 8 percent to $ 103 per barrel. Experts believe that if tension increases, prices may go up further. This will have a direct impact on the common people, because due to cost of fuel, daily expenses will also increase, which are already affected by inflation. Iran exports about 2 million barrels of oil every day. If there is a disruption in this, the global supply will reduce further and prices may increase further.
Iran’s clear message – will not back down
Iran’s leaders have made it clear that they are ready to face economic pressure. Mohammad Bakar Ghalibaf warned, “Enjoy gasoline prices now… you will soon miss $4 to $5 per gallon.” According to a report, if this conflict continues for a long time, oil prices may go above $ 120 per barrel. This will increase pressure on the global economy, inflation and interest rates may also increase.
The conflict may drag on for a long time
Despite military losses, Iran has a major economic weapon in the form of the Strait of Hormuz. At present Iran is not showing any signs of retreating. In such a situation, this conflict between America and Iran may drag on for a long time and it is certain that it will have an impact on the economy of the entire world.
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