Strait of Hormuz Blockade Hurts Iran’s Economy, Threatens To Spike Energy Prices

The U.S. blockade on the Strait of Hormuz has effectively shut down trade to and from Iran’s ports, cutting off an estimated 90 percent of the Middle Eastern country’s economy as the Trump administration looks to get Tehran back to the negotiating table, according to military officials.

But the blockade, while already putting pressure on Tehran to continue with peace talks, is also likely to drive up U.S. energy prices if it remains in place beyond a few days. What’s more, it’s unclear how long Tehran will hold out and refuse to make painful concessions.

“It’s hard for it not to have an impact on them,” retired Vice Adm. Kevin Donegan, a former commander of the Navy’s Fifth Fleet and JINSA Generals & Admirals Program participant — the naval arm responsible for operations across the Middle East — said of the blockade on Iran. “But remember, the Iranian regime cares less about the suffering that may be felt by their people. … Their ability to just say, ‘OK, we’re going to let this keep going, because we think we can outlast the Americans,’ is unknown for how long.”

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Read th full article in The Hill.