Iran military claims Strait of Hormuz control will double oil revenuesStrait of Hormuz control will double oil revenues
On May 13, 2026, Iran's military spokesman stated that maintaining control over the Strait of Hormuz would generate significant economic revenues, potentially doubling oil income and boosting international influence.
This comes amid a US naval blockade on Iranian ports despite a fragile ceasefire since April 8, with Iran's grip on the strait already rattling global markets.
The remarks highlight ongoing tensions over this vital oil chokepoint, which carries about 20% of the world's oil supply and could disrupt global energy prices if escalated.
- The Strait of Hormuz is only 21 miles wide at its narrowest point, making it vulnerable to blockade or disruption by a single nation.
- Oil price spikes triggered by Strait of Hormuz tensions have historically rippled through global economies, affecting inflation and consumer energy costs worldwide.
