Historically Persia or Iran is one of the important or one of the debating country in world politics today. The world attention was turned to Iran because of some specific cases since the month of May In this year. Most of the countries deeply criticized Iran about the oil tanker attacks many times.so we will discuss briefly how Iran affects the future of the world through oil production and the market.
In the month of May in 2019 four tankers were attacked by explosions in the UAE’s territorial waters in the Gulf of Oman and the east of the emirates of Fujairah. According to the reports of the UAE and the UN Security Council, there was a state actor behind the scene and the most evidences were against to Iran.
In the month of June in 2019, a Norwegian tanker FRONT ALTAIR and a Japanese tanker KOKUKA COURAGEOUS were also attacked in the Gulf of Oman, a strategically valuable waterway for energy supplies in the world.in this scene the USA accused Iran about this attack but Iran was denied it.
The tension between Iran and the USA was again escalated with the drone attacks on the two major oil facilities in Saudi Arabia recently. Saudi Arabia’s state-owned Aramco Company is the world’s largest oil producer which generates 10% of the oil. This attack was disrupted more than 5% of the world’s oil supply and knocked out half of the state’s oil capacity. Even though Yemen’s Houthi rebels claimed the responsibility of the attack, the USA accused it looks like Iran was behind the attack. President Donald Trump said that the USA will impose sanctions against Iran about this attack.
The question is what are the consequences?
Firstly, the surging oil price is one of the feeling results in this case. Especially with the Saudi Arabian attack, the oil prices spiked Monday. But the USA had authorized to use the Strategic petroleum reserve to balance the oil market. Especially the USA reserve is the world’s largest backup oil pool. But the thing is, if these kinds of attacks are frequent, it will be huge pressure for the world especially for the developing countries. Such kind of attacks increases the oil prices and the developing countries should pay a huge cost to buy oil barrels. Not only for the developing countries, but the rest of the world also feel this warmth.
By the other hand, Iran follows an arbitrary policy towards the world especially against the USA according to the recent attacks related to the oil production. Especially the US Iran tensions were escalated with the arbitrary acts of Iran. Iran hasn’t any consent for discussions. Before the attacks, the US and Iran relations were broke up due to the USA actions to pulling out of the nuclear deal with Iran. Also many have predicted that this tension will lead to a war and Iran waves to the devil.
By the way, punishing to the rest of the world because of the failure to achieve their personnel agendas, can not justify.