WASHINGTON, March 30. /TASS/. The actual termination of energy transit through the Strait of Hormuz has become the largest disruption in the history of the global oil market, according to a new study by the International Monetary Fund (IMF), which analyzes the consequences of the US-Israeli war with Iran for energy, trade, and finance.
"The de facto closure of the Strait of Hormuz and damage to regional infrastructure have produced the largest disruption to the global oil market in its history, according to the International Energy Agency. For fuel-importing economies, the effect is that of a large, sudden tax on income," the IMF analysts note.
On February 28, the US and Israel launched a military operation against Iran. Major Iranian cities, including Tehran, were hit. The Islamic Revolutionary Guard Corps (IRGC, the elite unit of the Iranian Armed Forces) announced a large-scale retaliatory operation, attacking Israel. US targets in Bahrain, Jordan, Qatar, Kuwait, the UAE, and Saudi Arabia were also hit.