Hormuz incidents highlight Iraqi export vulnerability
BAGHDAD - Iraq is confronting a major strategic vulnerability -- its lack of diversified oil export routes -- as Iran continues to disrupt shipping lanes amidst rising tension with the U.S.
More than 96 percent of Iraq's federal oil exports travel through the Strait of Hormuz, where Iranian operatives reportedly seized an oil tanker from the UAE this week and the U.S. military on Thursday said it shot down an Iranian drone -- the latest in a series of escalating incidents that threaten to close down a key choke point of both Iraq's economy and the world's oil supply.
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