Key Takeaways
- The US blockade of Iran has not disrupted oil production, with no oil wells exploding under the blockade, according to Iran’s Parliament Speaker Mohammad Bagher Ghalibaf.
- Iran’s oil exports remain unaffected, with the country’s storage capacity not reaching its limits, despite US efforts to restrict oil sales.
- The US blockade has contributed to a sharp rise in global oil prices, with prices surging to $120 and potentially reaching $140, according to some assessments.
Tehran: Iran’s Parliament Speaker Mohammad Bagher Ghalibaf on Thursday dismissed the impact of US efforts to curb Iran’s oil exports, asserting that the country’s energy infrastructure remains unaffected despite mounting pressure.
In a post on X, Ghalibaf said that three days into the alleged blockade, there had been no disruption to oil production. “Three days in, no well exploded,” he wrote, adding that Iran could continue operations for weeks if needed.
He also claimed that US measures aimed at restricting Iran’s oil sales have not pushed the country’s storage capacity to its limits. Instead, he argued, the restrictions have contributed to a sharp rise in global oil prices.
Aiming at the US administration, Ghalibaf criticised officials, including Treasury Secretary Scott Bessent, accusing them of relying on flawed assessments. “They push the blockade theory and cranked oil up to $120. Next stop: 140. The issue isn’t the theory, it’s the mindset,” he said.
Oil prices have seen a significant surge following President Donald Trump’s statement that the US naval blockade of Iran could last for months. This has raised concerns about potential supply disruptions through the Strait of Hormuz. Oil prices have reached a new high of $120 and could potentially reach $140, according to some assessments.
Trump considers that the blockade of Iranian ports will put pressure on Iran and calls it more effective than bombing, and discussed measures to extend it while limiting its impact on US consumers.
Trump called the ongoing US naval blockade of Iran “genius,” saying it demonstrates American military strength and will force Tehran into submission while insisting no agreement is possible unless Iran gives up any pursuit of nuclear weapons.
He praised the operation as “100% foolproof,” crediting the U.S. Navy and claiming the military had been significantly strengthened during and after his first term. Trump also asserted that U.S. power had already neutralized Iran’s military capabilities.
Drawing comparisons with other countries, he said Iran would face a rapid collapse under pressure and suggested its economy was already severely weakened. According to him, Iran would ultimately have no choice but to “give up” in the face of economic and military pressure.
On diplomacy, Trump said discussions with Iran were ongoing but largely happening remotely by phone rather than in-person meetings. He also stressed that any potential deal would be contingent on Iran abandoning nuclear weapons ambitions entirely, stating there would “never be a deal” without that condition.
