Iran’s ‘No Oil’ Threat: Could US Economic War Trigger a Global Energy Shock?

Iran has warned that not a single drop of oil could be exported through the Strait of Hormuz or the wider Persian Gulf if the United States continues what Tehran describes as an “economic war” against the country.

The warning from Supreme National Security Council Secretary Mohsen Rezaei came as Washington intensified economic pressure on Tehran. The United States on Monday announced a sweeping new sanctions campaign, dubbed “Operation Economic Outcast,” aimed at cutting Iran’s financial and trade links with the global economy.

Why is Iran threatening to halt oil exports?

Rezaei said Iran could stop oil exports altogether if US economic pressure continues. He also warned that countries participating in or supporting Washington’s campaign could be considered by Tehran to have committed an “act of war.”

The threat raises fresh concerns over shipping through the Strait of Hormuz, a crucial energy chokepoint. The waterway has already seen severe disruption during the conflict, with attacks and threats to shipping sharply reducing maritime traffic.

What sanctions is the US imposing?

US Treasury Secretary Scott Bessent announced an expanded sanctions campaign targeting Iran’s financial and trade networks. Washington said the objective is to sever the economic lifelines supporting Tehran and isolate the country from international commerce.

The measures target dozens of Iran-linked entities and businesses across sectors including shipping, aviation, technology and finance. The US has also warned countries that continue doing business with Iran that they could face secondary sanctions.

How has Iran responded?

Iranian officials have rejected the US strategy and warned that increased economic pressure will not force Tehran to surrender.

Rezaei’s warning represents a significant escalation because any attempt to restrict oil shipments through the Gulf could affect not only Iran but also international energy markets.

Why is the Strait of Hormuz so important?

The Strait of Hormuz is one of the world's most important routes for oil and gas shipments. Any prolonged disruption could reduce energy supplies and increase volatility in global crude markets.

Reuters reported that shipping through the waterway has already been severely affected during the conflict, while Iran retains military capabilities that could be used to threaten maritime traffic.

For major energy-importing countries, prolonged disruption could mean higher crude prices, increased transportation costs and renewed inflationary pressure.

What could happen next?

The confrontation is now increasingly shifting towards economic warfare. Washington is seeking to squeeze Iran financially, while Tehran is threatening to use its strategic position in the Gulf as leverage.

The immediate risk is a further escalation involving shipping and energy supplies. Even without a complete shutdown, continued uncertainty around the Strait of Hormuz could keep global oil markets volatile.

The latest developments come after months of confrontation between Washington and Tehran, with the conflict approaching its six-month mark and diplomatic efforts still uncertain.