Iran unable to fund 'proxy militia'; lost $25b in oil exports to naval blockade: US
The United States has asserted that Iran faces significant financial challenges due to a naval blockade. This blockade has reportedly restricted Iran's import and export capabilities, particularly affecting oil. Additionally, the US claims that Iran has suffered substantial losses, estimated at $25 billion, due to this blockade. Iran’s Islamic Revolutionary Guard Corps recently reported an…
The United States claims Iran is facing severe financial hardships and is unable to support its affiliated militant groups due to a naval blockade imposed by Washington. US Central Command (Centcom) commander Admiral Brad Cooper stated that the blockade has significantly impacted Iran's economy, particularly its capacity to export and import goods.
In a recent period, Centcom, coordinating closely with US agency partners, has reportedly dealt substantial blows to Iran's security apparatus and Revolutionary Guard Corps (IRGC) in three key areas.
According to Centcom, Iran has lost approximately $25 billion since the blockade started, with a significant portion attributed to the disruption of oil exports. Furthermore, the US has reportedly frozen $350 million worth of Iran's cryptocurrency holdings, as reported by ANI.
Iran's proxy militias, which consist of various groups aligned with Iran and opposing Israeli and US influence in the Middle East, include entities such as Hezbollah, the Houthis, Hamas, and Palestinian Islamic Jihad. These groups have faced shortages in multiple sectors, including energy, oil, steel, heavy industry, manufacturing, automotive, aviation, construction, security, and the military.
Admiral Cooper emphasized the US's control over the strategic Strait of Hormuz, highlighting that 400 ships have successfully navigated the Strait in a single week. He also mentioned that the US has assisted its allies in shipping over 100 million barrels of crude oil during the same period, contributing to more than 1.3 billion barrels shipped in recent months.
These claims come amid competing assertions of control over the strategically important waterway. Iran's Islamic Revolutionary Guard Corps recently reported that an unauthorized supertanker carrying over two million barrels of crude oil was struck by a sea mine, resulting in an explosion and severe fire. According to the UK Maritime Trade Operations, 135 such incidents have occurred in the Strait amid the ongoing Iran-US conflict.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
