A Greek shipowner whose family’s oil tankers were hit by missiles during the 1980s Iran-Iraq war said he expects Persian Gulf crude exports to continue after Iran’s threats to block shipments through the Strait of Hormuz.
Stable prices of oil, gold and the dollar are a sign to investors that the Islamic republic won’t halt shipments in response to a proposed European Union ban on its crude exports, Polys Haji-Iannou, 52, said. Iran’s Vice President Mohammad Reza Ramimi threatened on Dec. 27 to block the transit point for a fifth of oil traded worldwide if sanctions are imposed in response to the country’s nuclear program.
“Things will calm down within the next one or two weeks,” Haji-Iannou, whose brother is EasyJet Plc founder Stelios, said by phone from Athens today. “Even if there are EU sanctions, they will calm down.”