Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Iran says it can close Hormuz Strait, views Israeli presence in UAE as threat

Published 09/04/2024, 14:44
Updated 09/04/2024, 16:10

DUBAI (Reuters) -The commander of Iran's Revolutionary Guard's navy said on Tuesday Israel's presence in the United Arab Emirates was viewed as a threat by Tehran and it could close the Strait of Hormuz if deemed necessary.

Iran has threatened to retaliate for suspected Israeli airstrikes on its consulate in Syria's capital on April 1 that killed seven Revolutionary Guards officers including two senior commanders - stoking tensions between the arch enemies already heightened by the Israel-Hamas war in Gaza.

"We do not get hit without striking back, but we are also not hasty in our retaliation," Tangsiri said, according to Iran's semi-official Student News Agency.

"We can close the Hormuz Strait but are not doing so. However, if the enemy comes to disrupt us, we will review our policy," Tangsiri said.

About a fifth of the volume of the world's total oil consumption passes through the strait on a daily basis. An average of 20.5 million barrels per day (bpd) of crude oil, condensate and oil products passed through Hormuz in January-September 2023, data from analytics firm Vortexa showed.

The UAE, situated across the Gulf from Iran, became the most prominent Arab nation to forge diplomatic ties with Israel in 30 years under a U.S.-brokered accord in 2020, though Abu Dhabi also has normal diplomatic and commercial relations with Tehran.

"We know that the Zionists (Israel) were not brought to the UAE for economic purposes but rather for security and military work. This is a threat to us and should not happen," Revolutionary Guards Navy Commander Alireza Tangsiri added.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.