Photo: ZN
Iran has “lost complete control” of the Strait of Hormuz and its economy is in “total and complete freefall,” U.S. Secretary of State Marco Rubio said on October 7 during a visit to Greece.
“The Strait of Hormuz is open. There’s almost as much oil flowing out now as there was before this conflict began. So they’ve lost complete control of the strait,” Rubio told reporters in Athens.
Rubio said any agreement that could lead to sanctions relief for Iran would have to include firm guarantees that Tehran would never obtain a nuclear weapon.
“Iran cannot have a nuclear weapon. It’s simple: only that, period,” Rubio said. He did not provide details on what Washington would consider an acceptable nuclear arrangement, but said Iran would never be allowed to have a nuclear weapons capability.
The secretary of state also blamed “crippling” U.S. sanctions for what he described as Iran’s economic collapse, saying the country’s current situation was unlike that of most other countries.
Rubio is in Athens leading the U.S. delegation at the sixth round of the U.S.-Greece Strategic Dialogue. The talks include cooperation on defense, energy and regional security.
Independent estimates indicate that oil flows through the Strait of Hormuz have recovered substantially but remain below pre-war levels. Reuters reported that exports through the strait had reached about 14.2 million barrels per day, roughly 80% of the pre-war level, while other estimates have put the recovery higher.
Before the conflict, the Strait of Hormuz carried a major share of global oil and gas exports. Producers have increased the use of alternative pipelines, ship-to-ship transfers and other routes to reduce their dependence on the waterway.
Oil prices remain elevated. Brent crude was trading above $101 per barrel on October 7, with markets reacting to geopolitical risks, attacks by Iran-backed Houthi forces.
