Economy
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‘Oppressive approach is intolerable,’ Iran President hits out at US blockade; Trump says ‘It's not a war but…’
Even as Iran tightens its grip on global energy flows by controlling the Strait of Hormuz, its own oil sector is under mounting pressure from a US naval blockade. With no way to export the oil it is pumping out and diminishing storage space at home, Iran may be forced to dramatically reduce or cease production from some of its wells, perhaps as soon as two weeks, AP reported, quoting experts.The situation may not be as difficult as US President Donald Trump recently suggested, when he warned that pipelines could...