As tensions escalate between Iran and Israel, Iranian Oil Minister Mohsen Paknejad made a defiant visit to Kharg Island, the country’s primary oil export terminal, on Sunday. The visit comes as Israel warns of potential retaliatory strikes on Iranian energy facilities following a barrage of missiles launched by Iran towards Israel earlier this week.
Paknejad’s visit to Kharg Island was a clear message of defiance, aimed at reassuring both the Iranian public and international observers that Iran is not intimidated by Israel’s threats. During his visit, Paknejad reportedly held talks with Mohammad Hossein Bargahi, the naval commander of the Islamic Revolutionary Guard Corps.
The Iranian oil minister’s visit to Kharg Island follows a statement from an Israeli military spokesman who declared the country was “preparing a response” to Iran’s missile attack. The missile attack, which targeted Israel on Tuesday, involved the launch of as many as 200 missiles, reportedly in retaliation for the deaths of Hezbollah leader Hassan Nasrallah and Iranian general Abbas Nilforoushan in a September 27 strike on Beirut.
Paknejad, while inspecting the oil facilities on Kharg Island, affirmed that Iran is “not afraid” of potential attacks. “Visiting the region is a normal business trip,” he told state television, highlighting the ongoing importance of the Kharg Island oil terminal, which boasts a capacity to store 23 million barrels of crude. He also praised the efforts of the Islamic Revolutionary Guard Corps in safeguarding the security of Iranian oil platforms in the Gulf region.
The situation has escalated further since US President Joe Biden announced that he was “in discussions” with Israel about possible strikes on Iran’s oil infrastructure on Thursday. This statement led to a surge in oil prices. However, on Friday, Biden advised Israel against targeting Iranian oil facilities, recommending “other alternatives”.
Iran, a member of OPEC, produces around 3.2 million barrels per day, accounting for approximately 3% of global oil output. Despite ongoing US sanctions, Iranian oil exports have risen this year to near multi-year highs of 1.7 million bpd. China, Iran’s largest oil customer, which does not recognize US sanctions, is estimated to have imported 1.2 to 1.4 million barrels per day from Iran in the first half of 2024.
In response to the Israeli threats, Iranian Foreign Minister Abbas Araghchi issued a warning on Saturday, stating that Iran would respond with “a proportional and similar reaction, and even stronger” if Israel launches strikes against Iranian targets.
As the situation continues to unfold, the world watches closely to see how the current tension between Iran and Israel will be resolved, and whether the rhetoric of both countries will lead to further escalation or a negotiated solution.
