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News Desk. Amidst the increasing tension in West Asia, the conflict between Iran and America is now deepening on the economic front as well. Especially the situation regarding oil supply has created new challenges for Iran. America’s blockade is no longer limited to just a military strategy, but has become a major weapon to exert economic pressure on Iran.

If the situation does not improve soon, Iran may have to reduce oil production or take other difficult decisions. Global oil exports have been affected after oil supply was disrupted through the Strait of Hormuz. First this route was blocked by Iran and then the American blockade made the situation more difficult.

Problems increased due to lack of storage

Due to the halt in oil exports, Iran continues to produce oil, but is running out of space to store it. The situation has become such that the oil storage capacity is filling up rapidly and is in danger of being completely exhausted soon.

old tanker prop

Iran has adopted a temporary measure to deal with this crisis. The 30-year-old tanker ‘Nasha’ has been refloated, which is now being used as floating storage. This step shows how serious the situation has become.

Increasing pressure on Kharg Island

Kharg Island is a major center of Iran’s oil production and export. More than 90% of the country’s crude oil is produced here. But now its storage capacity is almost on the verge of filling, due to which the crisis may deepen further.

Difficult to stop production

The biggest dilemma facing Iran is that it cannot stop oil production suddenly. Doing so can cause permanent damage to oil wells. At the same time, the country is also suffering economic losses due to stoppage of exports.