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Iran’s Kharg Island is home to the country’s main crude oil export terminal and handles the vast majority of its shipments to the rest of the world.
The Iranian island of Kharg, until now spared from American and Israeli bombings, was hit by American strikes this Friday, March 13. Fifteen explosions were heard but “no oil infrastructure was damaged”assures the Iranian news agency Fars, citing “field sources” not identified.
According to Fars, “the enemy attempted to damage the army’s defenses, the Joshan Naval Base, the airport control tower and the helicopter hangar of the Continental Shelf Oil Company”. For his part, Donald Trump claims to have “completely destroyed” military sites.
The bushy island of Kharg, located less than 30 kilometers from the Iranian coast, provides around 90% of the country’s crude oil exports, according to a recent note from the American bank JP Morgan. It is therefore vital for its economy and strategic for this war.
It is on this island — known as “Forbidden Island” with the Iranians, because of the military presence — that the oil pumped through Iranian oil fields arrives via underwater pipelines. They are then loaded onto tankers, mainly destined for China. Iran’s oil sector generates around $50 billion annually and remains one of the country’s main sources of revenue.
Attack on oil facilities would cripple Iranian economy
These facilities are therefore essential for the Iranian oil system. CNN reports that Israeli opposition leader Yair Lapid recently said the destruction of the crossing “would paralyze the Iranian economy and lead to the fall of the regime”. He added: “It is necessary to destroy all energy infrastructure on Kharg Island to bring the Iranian economy to its knees. »
If the island’s oil infrastructure were to be attacked, it would give way to an unprecedented escalation in the Middle East. Which is why this has been avoided until now. Another reason given by The Conversation is the reaction of financial markets. Crippling Iran’s entire oil sector would destroy financial markets’ already fragile confidence in Trump’s ability to achieve his unclear war goals without lasting disruption to the global economy. The Guardian reveals that according to some analysts, the price of oil could then rise to $150 per barrel if Kharg Island were hit.
After Friday’s attacks, Donald Trump warned that he would also destroy oil infrastructure “should Iran, or anyone else, do anything to impede the free and safe passage of ships in the Strait of Hormuz ». “Initially the message was ‘bring down the Revolutionary Guards, bring down the regime’ but now we are trying to bring down the economic lifeblood of this country, potentially”warns former diplomat and general Mark Kimmitt, quoted by CNN.
In return, the spokesperson for the central headquarters of Khatam al-Anbiya, affiliated with the Revolutionary Guards, threatened: “All oil, economic and energy facilities belonging to oil companies in the region partly owned by the United States or cooperating with the United States will be immediately destroyed and reduced to ashes. »