Expert Zubets: If Iran closes the Strait of Hormuz for a long time, the US will have to negotiate

The conflict in the Middle East has already led to serious economic consequences, and experts estimate the situation will only worsen

Alexey Zubets, Director of the Center for Social Economic Research (Russia):

"As for the economy, there's complete uncertainty, because it's unclear how long Iran will close the Strait of Hormuz. Iran currently has one real weapon to force the West to take it into account: high oil prices. So, if Iran keeps the Strait of Hormuz closed for a month, two, or three, it will lead to oil prices rising to around $100-$150 per barrel. This is the only way to force the Americans into a position where they'll negotiate. So, we're assuming that the closure of the Strait of Hormuz is a long-term commitment, lasting for months. And the economic consequences of this war are already estimated at tens, if not hundreds, of billions of dollars."