Iranian President Hassan Rouhani on Tuesday threatened to block all oil shipments through the Strait of Hormuz if the US tightens sanctions that squeeze Iran’s exports down to zero. “The US should know that we are selling our oil … and it is not able to stop Iran’s oil exports,” Rouhani said, according to a report in state-owned news service IRNA. “And it should know if it intends to block our oil someday, no oil will be exported through the Persian Gulf.” The Strait of Hormuz is the world’s busiest oil chokepoint at the mouth of the Persian Gulf. About 18.5 million b/d of crude and refined products, about 30% of all seaborne oil exports, transited the 21-mile wide channel in 2016, according to the US Energy Information Administration. Rouhani made a similar threat in […]