Monarchies of the Gulf states and heads of Western states have agreements to minimize losses from passing an embargo on energy resources against Iran, Rajab Safarov, Director General of the Center for Modern Iranian Studies, told Vestnik Kavkaza.
The expert said that Iranian Vice-President Reza Rahimi’s statement on closing the Hormuz Strait was caused very serious concerns in Western states because there is information about a deal between monarchies of the Gulf and Western states on petroleum exports. If Iranian energy resources get blockaded, the monarchies will need to compensate the loss by selling oil two times cheaper than the market price. It would be a bonus and a compensation for Western risks. Iran would not allow any of that to happen, the political analyst says.
Safarov reminded that 65% of Iran’s budget is based on sales of petroleum and other energy resources. Iran, as well as Russia and many other states, are confident that such actions are illegal and violate the international law because a coalition against a single state cannot be formed without sanctions of the UN Security Council
Even if Iran’s energy resources would be blockaded, the Islamic Republic would not close the Hormuz Strait, otherwise the Western scenario would be realized.
Rajab Safarov believes that European states are putting themselves at a dead end themselves because they need Iranian petroleum. In this case, Iran made a warning step and has the right to be heard. It would not really close the Hormuz Strait. It is a very big player and the West will need its resources itself soon, the expert says.
