Aramco CEO warns ‘catastrophe’ imminent if Strait of Hormuz remains shut
The Cradle | March 10, 2026
Saudi oil giant Aramco issued a warning on 10 March that the global energy market faces “catastrophic consequences” if the Strait of Hormuz remains closed.
“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on … the more drastic the consequences for the global economy,” Aramco CEO Amin Nasser told reporters.
“While we have faced disruptions in the past, this one by far is the biggest crisis the region’s oil and gas industry has faced,” he added.
Nasser went on to say that the crisis has ravaged the shipping and insurance sectors, while also threatening aviation, agriculture, and other industries.
“Of course, we would support any actions or measures that would help to deliver our products to our customers, to the global market,” he said when asked about the US Navy potentially escorting oil tankers through the strait.
Yet a top energy official in the Gulf told Reuters that ending the war was the only way to open the strait, through which around 20 to 30 percent of the world’s energy passed before the attack on Iran.
Qatar warned on Tuesday that attacks on regional energy infrastructure could trigger economic repercussions far beyond the Gulf.
Doha said strikes on oil and gas facilities have set a dangerous precedent.
Tehran has vowed not to allow “one liter of oil” to be shipped from the region if Washington and Tel Aviv’s war continues.
“The Strait of Hormuz will either be an outlet for understanding and cooperation, or it will turn into a strait of strangulation for those who dream of wars,” Ali Larijani, head of Iran’s Supreme National Security Council, said.
Since the start of the war, Iran has targeted tankers refusing its warnings not to approach the strait.
US military bases housing key radars, as well as vital energy infrastructure across the Gulf, have also been struck by Iranian forces.
In response to an Israeli attack on an oil facility in Iran, the Islamic Revolutionary Guard Corps (IRGC) said on 10 March that it targeted Israeli energy facilities in Haifa.
Global oil prices currently hover around $90 per barrel, down from $120 on Monday, following Trump’s statement that he aims for a swift resolution to the war.
However, prices are expected to surge again. Trump’s comments on the war have been contradictory. “We could go further, and we’re going to go further,” he said on Monday, before telling US media hours later that “I think the war is very complete, pretty much.”
The US military has burned through more than $10 billion of its annual budget since the start of the war in late February.
Trump’s advisors have been urging the US president to find an “exit plan” to “extract” Washington from the brutal war on Iran due to concerns of political backlash, informed sources told the Wall Street Journal (WSJ) on 9 March.
Yet Iran has reportedly refused ceasefire discussions. “It is we who will determine the end of the war,” the IRGC said this week.
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70 Neocons Petition Congress To Effectively Allow Israel To Say When The US Should Attack Iran
By Damian Lataan | January 10, 2014
Seventy senior Israeli-centric neoconservatives have written an open letter to Congress imploring them to do more to ensure Iran complies with the conditions of any agreement finally reached with the P5+1 over Iran’s nuclear program.
While the neocons are ostensibly asking Congress to ensure compliance, it is clear that their real aim is to convince members of Congress to support the bill currently passing through the Senate which calls for tighter sanctions against Iran in the event of any waywardness on Iran’s part.
The neocons are eager to see the bill currently passing through the Senate with enough support to make it veto-proof, not so much because they are concerned about Iran’s so-called nuclear weapons program – there’s still not a skerrick of hard evidence that Iran has a nuclear weapons program – but, rather, because embedded within the bill is this clause:
… if the Government of Israel is compelled to take military action in legitimate self-defense against Iran’s nuclear weapon program, the United States Government should stand with Israel and provide, in accordance with the law of the United States and the constitutional responsibility of Congress to authorize the use of military force, diplomatic, military, and economic support to the Government of Israel in its defense of its territory, people, and existence…
Essentially, the clause is an automatic trigger for the US to attack Iran at any time the Israelis choose to launch a first strike – regardless of whether President Obama is in favour or not.
Partial list… continue
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