Iran to earn twice as much from controlling Hormuz Strait as from oil - Tehran

The economic gains that Tehran will bring in from controlling the Strait of Hormuz are expected to be double its oil export revenues, Iranian Army Spokesman Mohammad Akraminia said.

According to him, the western part of the waterway is currently controlled by the Islamic Revolutionary Guard Corps Navy, while the army’s naval forces control the eastern part, ISNA reported.

"Our control of the Strait of Hormuz will not only yield great economic revenues for our country - twice its oil revenues - but will also strengthen our foreign policy stand," Akraminia said.

He pointed out that Iran’s naval presence in the Strait of Hormuz would prevent the U.S. from restoring military facilities at its bases in the Gulf countries.

According to the Iranian army spokesperson, Washington will soon completely lose its positions in the Middle East.