Iranian officials warned that the U.S. blockade of its ports will come at “significant costs” for the global economy and soaring fuel prices can only be resolved if the blockade ends, as global crude oil prices shot up once again on Monday morning, as both the U.S. and Iran targeted vessels moving through the Strait of Hormuz.
Tankers anchored in the Strait of Hormuz off the coast of Qeshm Island, Iran.
In a post on X, Iran’s First Vice President, Mohammad Reza Aref, wrote that Iran’s oil exports cannot be restricted while “expecting free security for others,” through the strait.
In the post retweeted by Iranian state media, Aref warned that the world had to choose: either a “free oil market for all” or the risk of “significant costs for everyone.”
The Iranian official also noted that stability in global fuel prices depended on a “guaranteed and lasting end” to economic and military pressure against Iran and its allies.
