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Central Bank: No room for maneuver in economic Hormuz
On: Thu 1/26/2012 7:26
□ Baghdad / agencies
through the Central Bank concern about the potential escalation of tensions in the Strait of Hormuz, stressing that the closure of the Straits will directly affect the national economy is no room for any maneuvering economic.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh / Baghdadiya News / "he is worried about what he significant implications on the economy in the event of closing the Strait of Hormuz.
Noting that "the tension in the Strait of Hormuz would affect Iraq's two-way first is that two thirds of exports of Iraq's oil passes through the strait and the second is that the key pillar of the country's trade passes through the south by the sea."
Saleh added: that the results of closing the Strait of Hormuz would be directly on Iraq precisely because it depends on the oil and can not maneuver to change the port catalog other than Saudi Arabia, which has the ability to maneuver expected that Saudi Arabia in the case of closed Hormuz maneuver economic and begin to export through the Red Sea. "Tehran has threatened to close the Strait of Hormuz in the event of any attack military action by the United States or Israel.
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