(The Center Square) – Eighteen million barrels of oil are now passing through the Strait of Hormuz, according to President Donald Trump.
The oil transiting the Strait is now 90% of its pre-conflict level. The daily average prior to the conflict was 20 million barrels.
The news comes just a couple of days after the U.S. launched retaliatory strikes against Iran along the Strait of Hormuz after the Islamic Republic attempted to attack U.S. bases in the region and commercial ships transiting the Strait.
Earlier in the week, Trump declared, “Iran is officially a failed nation. It is dead” in a social media post.
The president has said that Iran is dealing with 300% inflation and is unable to pay its military and police.
Videos circulating on social media claiming to be taken inside Iran show miles-long lines for gas, as the U.S. continues to enforce a full naval blockade on Iranian ports. The Trump administration claims the blockade is costing the Islamic Republic between $400 million and $500 million in economic losses a day, coupled with intense sanctions meant to squeeze the country financially.
The Pentagon says it has spent nearly $40 billion on military operations in Iran, though many independent analyses estimate the true amount is at least double, since the conflict began Feb. 28.
Originally published on thecentersquare.com, part of the BLOX Digital Content Exchange.
Information from the News and our advertisers (Want to add your business to this to this feed?)
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sign up to receive notifications when a new Columbia Gorge News e-Edition is published.
Would you like to receive our news updates? Signup today!
Receive weekly updates on obituaries and death notices.
Oregon Capital Press presented by Columbia Gorge News
Receive updates on upcoming promotions and special sections.
Receive weekly updates on local sports news.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
Commented
Sorry, there are no recent results for popular commented articles.