Roughly 40 percent of the world's seaborne crude passes through the Strait of Hormuz every day. This gives Iran enormous leverage. Stratfor has highlighted time and time again that, nuclear weapons aside, an Iranian attempt to close the Strait of Hormuz and traumatize the global economy is the strongest form of deterrence Iran has against a potential military strike by the United States and Israel.
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Roughly 40 percent of the world's seaborne crude passes through the Strait of Hormuz every day. This gives Iran enormous leverage. Stratfor has highlighted time and time again that, nuclear weapons aside, an Iranian attempt to close the Strait of Hormuz and traumatize the global economy is the strongest form of deterrence Iran has against a potential military strike by the United States and Israel.
Countries that export oil through the strait do not want to see a military confrontation in the Persian Gulf that would take their business offline, so they see the need to diversify their export options. To learn about oil export alternatives, check out this video, or read the following for more information on Iran and the Strait of Hormuz: