Iran trade official warns against keeping Hormuz closed
A senior Iranian business official warned that closing the Strait of Hormuz would harm Iran’s own trade, saying the country has no choice but to reopen the waterway in some form and keep commerce moving.
Davoud Rangi, deputy head of the import management committee at Iran’s Chamber of Commerce, said that if the value of the Strait of Hormuz for Iran is now 100, it could fall to 80 within two months and to 20 or 30 within a year.
He said countries around the Persian Gulf would choose alternative routes for their trade and oil exports.
“The Strait of Hormuz can only have value for us,” Rangi said, adding that closing it would mean Iran was blocking its own trade in the region and inflicting major damage on the country.