The head of the Iran-China Joint Chamber of Commerce claimed the US naval blockade is causing greater economic damage than the 40-day war period, citing $18 billion in additional annual shipping costs. According to the official, land transport costs of $12,000 per container — up from $3,000 by sea — could render the country's non-oil exports unviable, threatening to 'close the entire trade process.'
The head of the Iran-China Joint Chamber of Commerce, in remarks reported early Wednesday, asserted that the US naval blockade is exacting a heavier economic toll on Iran than the 40-day war period. He detailed a cost breakdown showing that shipping a container by land costs $12,000 compared to $3,000 by sea, adding $9,000 per container. With approximately two million containers entering Iran's southern ports annually, the official estimated the blockade adds $18 billion to annual import costs.
The official further warned that Iran's non-oil exports, valued at roughly $50 billion annually with a profit margin of only about $10 billion, could become economically unsustainable under the higher transport costs. 'The additional $20 billion in costs could close the entire trade process,' he said.
The Zioneer has previously reported estimates of the blockade's economic impact, including a bulletin on August 11 detailing the same official's warnings of 'erosion and destruction,' and separate reports of shipping cost surges of 4-7 times and a halt in oil exports from Kharg Island since late July. The claims come as the US maintains a maritime enforcement campaign to prevent Iranian crude exports, a pressure tactic that has intensified since the spring.
2 developments
- DevelopingIran's industry minister admits naval blockade drives up domestic prices
- DevelopingJCFA analyst: US naval blockade cripples Iran's oil exports, IRGC believes it can outlast pressure
- StrongVOA Persian: Shipping costs to Iran surge 4-7 times amid naval restrictions
- DevelopingIranian MP: US naval blockade and economic pressure worse than 40-day war
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