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US war on Iran would have ‘severe consequences’ for world economy

The Strait of Hormuz is a narrow waterway that connects the Persian Gulf on the west to the Sea of Oman.

Political commentator Edward Corrigan has warned about “severe consequences” of US military action against Iran, saying the war would imperil global oil supply.

“There would be severe consequences for the world economy, certainly for the oil supply if there was an American attack on Iran,” Corrigan said in a phone interview with Press TV on Monday.

He made the remarks after the White House announced that the Obama administration would not choose military action against Iran over the country’s nuclear program.

In a sharp criticism of House Speaker John Boehner, White House Press Secretary Josh Earnest on Sunday defended President Barack Obama’s foreign policy for nuclear talks with Iran.

Corrigan called the White House announcement “a positive step,” adding that the military strike would have catastrophic results for the world.

He was referring to the Strait of Hormuz, which is a narrow waterway that connects the Persian Gulf on the west to the Sea of Oman. Statistically, the waterway is one of the world's most important shipping lanes, with a daily flow of about 15 million barrels of oil.

The journalist, however, reminded that Iran does not pose a military threat to the United States.

“The American people certainly don’t want to have another war,” he said.

The P5+1 group – the US, Britain, Russia, China, France plus Germany – are in talks with Iran to reach a comprehensive final nuclear agreement after an interim deal was signed in November 2013.

The final stage of the current nuclear negotiations between Iran and the P5+1 group in Lausanne, Switzerland is expected to continue until Tuesday, which was set as a deadline for reaching mutual understanding in the talks.

“Iran is entitled to pursue nuclear energy like any other country in the world,” Corrigan said.

He also advised the United States to lift sanctions imposed against the Islamic Republic.

AGB/AGB


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