Iran has announced its readiness to ban competitors from selling oil in the region.

Iran will not allow anyone to sell oil in the Middle East unless Tehran itself has the opportunity to do so. The Speaker of the Parliament of the Islamic Republic, Mohammed Bagher Ghalibaf, warned about this on July 22.

"In a region where we don't sell oil, no one will sell oil. If our security is not ensured, no infrastructure will be safe, and the security of the strait lies in the disappearance of the American army," the politician said on his official page on the social network X (former. Twitter).

Ghalibaf added that the Iranian authorities have repeatedly tried to convey to other states that the situation in the Strait of Hormuz "will not return to its pre-war state."

The Houthis have announced a naval blockade of Saudi Arabia. What is the threat of this

As the Financial Times (FT) reported on July 9, the largest US oil companies ExxonMobil and Chevron may receive almost $25 billion in net profit in the second quarter due to rising oil and fuel prices caused by the conflict between the United States and Iran. It was noted that American companies have increased exports of oil and petroleum products, taking advantage of the shortage of supply on the world market.

Ghalibaf noted on June 30 that since the lifting of the American naval blockade, the republic has exported more than 40 million barrels of oil. He recalled that free passage through the Strait of Hormuz is only possible for 60 days and Iran will never give up its rights to the waterway. Now, thanks to the armed actions, the republic is selling oil at a price 20% higher than before, he said.