Iran has a right of veto on the Strait of Hormuz.

Iran has a right of veto on the Strait of Hormuz.

Former US President Barack Obama: Iran now has a veto right over the Strait of Hormuz, through which oil reaches global markets. This dominance of Iran is the main reason for the increase in oil prices in the global markets, and no one can doubt this fact. The control of this important transition is the main reason for the increase in diesel prices, and therefore the prices of almost all goods in the world have increased.