Iran Oil Export: Will Iran’s economy collapse due to the attack on Kharg Island? Know why this small island is Israel’s target

News India Live, Digital Desk: The war in West Asia has now reached a point where a small mistake can push the entire country to the brink of poverty. Amidst the increasing tension between Israel and Iran, the name of ‘Kharg Island’ is the most discussed. Defense experts believe that if this island is attacked, Iran’s economic back will be completely broken. Why is Kharg Island special? (Iran’s Economic Lifeline) Kharg Island is not just a piece of land for Iran, but the ‘heartbeat’ of its economy. This island located in the Persian Gulf is the largest center of crude oil export of Iran. 90% Oil Export: Iran sends about 90 percent of its total crude oil export to the world through this island. Huge Terminal: One of the world’s largest oil terminals is located here, from where oil is filled in huge tankers. Source of earning: A large part of Iran’s GDP and foreign exchange reserves is dependent on the trade from this island. Israel’s targets But why Kharg Island? Israel knows very well that crippling Iran economically is more effective than defeating it militarily. One-shot devastation: If Israel targets the infrastructure of Kharg Island, Iran’s oil exports will come to a complete halt. Domestic crisis: Due to the cessation of oil earnings, inflation in Iran will reach its peak and it will be impossible for the government to bear the expenses of the war. Global Pressure: However, the attack on this island will cause global economic crisis. The price of crude oil in the market may cross $100, which may create an outcry in the whole world. What if there is an attack? If there is an attack on Kharg Island, its impact will not be limited to Iran only. The prices of petrol and diesel can touch the sky in many countries of the world including India. This is why America and other countries are advising Israel not to attack oil targets.