Geopolitics

Iran state oil company’s bank accounts reportedly frozen over debt - Al Arabiya English

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DW NOTE

When a state oil monopoly has its bank accounts frozen for nonpayment while simultaneously blockading the world's most critical oil chokepoint, you're watching a failed state run a protection racket. Iran shut Hormuz on February 28 and can't keep the lights on at home.

Read the full story at Al Arabiya English →

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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Iran state oil company’s bank accounts reportedly frozen over debt - Al Arabiya English

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