According to Dr Faith Birol, Executive Director, the International Energy Agency (IEA), the global supply chain is under significant risk unless diplomatic talks between the United States and Iran successfully restore the steady flow of oil through the Strait of Hormuz.
Dr Birol stated, “Oil security is still a critical issue,” adding that the world needs to be feared if the crisis is not resolved shortly.
The Executive Director’s statements came following the sixth night of escalated US airstrikes against Iran, which targeted Bandar Abbas, Ahvaz, and Iranshahr and firing on a ship accused of violating the reimposed naval blockade.
Tehran countered by launching airstrikes and unmanned aerial vehicles at US-aligned nations in the area, hitting Kuwait, Bahrain, and Jordan.
Moreover, according to Iran’s Fars news agency, the total death toll has climbed to seven.
Commenting on the ongoing crisis, Iranian Armed Forces spokesman Abolfazl Shekarchi stated: “The Strait of Hormuz is entirely within the sovereignty of Iran and Oman, and no external party has the right to interfere in its affairs, especially the United States of America”, adding that the situation in the Strait of Hormuz will not return to what it was before the war.
