US blockade could cost Iran $18 billion a year as Strait of Hormuz traffic declines below 10 days' average

The head of the Iran-China Chamber of Commerce has warned that a potential US maritime blockade could impose an additional $18 billion in annual trade costs on Iran. The statement comes as regional tensions continue to escalate, with reports indicating that traffic through the critical Strait of Hormuz has declined below the ten-day average.

This economic warning follows a period of heightened activity in the region. Recent reports from international news wires confirm that the US military has engaged in operations to disable vessels attempting to bypass the blockade on Iran. Simultaneously, diplomatic efforts are underway, with the Pakistani interior minister currently in Tehran to discuss the potential reopening and stabilization of the Hormuz maritime corridor.

Analysts suggest that the combination of increased insurance premiums, logistical delays, and the physical disruption of shipping lanes is placing significant pressure on Iran's trade-dependent economy. As the situation remains fluid, the international community continues to monitor the impact of these maritime restrictions on global energy prices and regional stability.