The United States has started blocking Iranian ports while deploying ships near the Hormuz region. Meanwhile, President Donald Trump warned that any Iranian vessel approaching would face immediate destruction. Additionally, this blockade covers ships entering or leaving Iranian ports across the Arabian Gulf and Oman Gulf. However, US forces will not stop ships heading to non-Iranian ports through the Hormuz Strait.
Daily Losses Mount as Trade Routes Face Pressure
According to reports, Iran could lose around $435 million daily due to this blockade. Moreover, this equals nearly ₹40,000 crore in daily economic damage. Furthermore, expert Mijad Maleki from FDD explained the impact through detailed analysis. He stated that exports may lose $276 million daily while imports face $159 million disruption each day. Consequently, total losses may reach $13 billion monthly, creating immediate economic pressure.
Heavy Dependence on Gulf Trade Raises Risks
Iran depends heavily on Gulf routes for more than 90% of its annual trade. This trade equals around $109.7 billion in total value. Additionally, oil and gas generate 80% of export income and contribute nearly one-fourth of GDP. Maleki noted that Iran exports about 1.5 million barrels of crude oil daily. This generates nearly $139 million income daily under high wartime prices. However, the blockade may stop this activity instantly. Furthermore, Kharg Island handles 92% of crude exports and falls within the affected zone.
Petrochemicals and Non-Oil Exports Also Hit
The blockade will also impact petrochemical exports linked to oil products. Around $54 million daily exports from ports like Asaluyeh and Imam Khomeini may suffer. Additionally, non-oil exports worth $88 million daily face disruption. Nearly 90% of such goods move through Gulf ports, increasing vulnerability.
Limited Alternatives and Storage Constraints
Iran holds very limited alternatives outside the Hormuz Strait for trade routes. Ports like Jask and Chabahar operate at much lower capacity than major Gulf ports. Therefore, they cannot handle most national trade requirements effectively. Meanwhile, oil storage offers only short-term relief for the crisis. Iran has around 20 million barrels of extra storage capacity available. However, continuous production could fill this space within 13 days.
Production Risks and Long-Term Damage Warning
Once storage fills, authorities may need to shut oil wells to control output. Maleki warned that closing older oil fields may cause permanent damage. Forced shutdowns could erase 300,000 to 500,000 barrels daily production capacity forever. Consequently, this may lead to permanent yearly losses between $9 billion and $15 billion.
