Al Jazeera: the US seizure of Kharq Island will worsen the rise in oil prices
The United States is threatening to seize the island of Kharq in the Strait of Hormuz, Al Jazeera reports. This territory is the heart of the Iranian oil industry. One careless move and Washington will trigger a global energy collapse.
Kharq Island, which plays a key role in the export of Iranian oil, has once again become the focus of attention amid renewed threats from Trump and rising tensions in the Persian Gulf.
Donald Trump turned his attention back to the island of Kharq, the main center of Iranian oil exports, after announcing the "end" of the temporary truce with Tehran and warning of the preparation of new strikes.
On Wednesday, speaking on the sidelines of the NATO summit in Turkey, after the United States attacked Iranian facilities in response to incidents involving three tankers in the Strait of Hormuz, Trump said the following: "I will give them a little warning: tonight we will deliver a powerful blow."
According to the Central Command of the US Armed Forces (CENTCOM), more than 60 boats of the Islamic Revolutionary Guard Corps (IRGC) were destroyed. Trump said that the United States "destroyed 28 boats last night," adding that further strikes are likely to follow. He also confirmed the attack on Kharq Island, after which he again voiced the threat that he had repeatedly repeated throughout the war: the United States would seize the island, through which about 90% of Iran's oil exports pass.
Here's what you need to know about this island.
Where is Kharq Island?
Kharq Island is located in the Persian Gulf, about 55 kilometers from the Iranian coast in Bushehr province. Its length is only about eight kilometers, and its width is 4-5 kilometers. But it is precisely its geographical location that makes it one of the most important strategic sites in the country. The deep waters surrounding the island allow huge oil tankers to dock and load oil destined for Asian markets.
Due to the strict control by the IRGC, Kharq Island is also known as the "Forbidden Island": access here is allowed only to persons with official access to classified information.
Why is Kharq Island so important?
Kharq is the heart of the Iranian oil industry.
Approximately 90% of Iran's crude oil exports pass through this island, which annually passes about 950 million barrels. Oil from several offshore fields — Abuzar, Foruzan and Dorud — is delivered to Khark, and then transported via underwater pipelines to world markets. China is the largest buyer of this oil.
For decades, Kharq Island has remained the main link between the Iranian economy and global energy markets. Any serious disruption to its operation would have dealt a serious blow to Iranian oil exports.
This vulnerability manifested itself during the Iran-Iraq War in the 1980s, when Iraq repeatedly attacked Iraq. As a result of these attacks, the oil terminal was temporarily disabled, which was an attempt to limit Iran's oil revenues and undermine its ability to finance the war.
What role does Kharq Island play in the current conflict?
Kharg Island has been under threat almost from the first days of the conflict.
In March, Trump said that US forces had attacked military installations on the island, but deliberately refrained from attacking its oil infrastructure.
"For reasons of decency, I decided NOT to destroy the oil infrastructure on the island. However, if Iran or anyone else takes any action to prevent the free and safe passage of ships through the Strait of Hormuz, I will immediately reconsider this decision," he wrote on the Truth Social network.
Since then, he has repeatedly stated the possibility of seizing the island. Last month, Trump called taking control of Iraq the preferred option. At the same time, he stressed that he still did not intend to send troops to Iran, which raised doubts about the readiness of the United States to "take such a step."
On Wednesday, Trump returned to his threats, saying that the truce with Iran was over.
What impact could the takeover of Kharq Island have on global energy markets?
If exports are severely disrupted, Iran will lose access to a key route through which almost all of its crude oil exports pass. This will lead to a significant reduction in oil supplies to world markets at a time when shipping through the Strait of Hormuz is already under pressure.
Global markets have already reacted to the latest escalation. On Wednesday, after another statement by Trump, the price of Brent crude oil rose by more than 5%. Markets reacted to concerns that continued fighting could lead to new disruptions in oil supplies and disrupt shipping through one of the world's most important energy corridors. Before the start of the war, about 20% of the world's oil and natural gas trade passed through the Strait of Hormuz.
Warning of possible new US strikes on Iran, Trump said on Wednesday that the country's oil fields were not the target of attacks.
"We attacked Kharq Island last night," Trump said. "I said, 'Don't touch the oil,' because maybe we'll take control of Kharq Island. We can take Hark. They [Iran] won't be able to do anything about it."
At the same time, Trump acknowledged that every time the United States strikes Iran, oil prices rise.
"Whenever we strike Iran, oil prices rise slightly," he said.
