Iran opened its first oil terminal in the Gulf of Oman on Thursday, a move aimed at making Iranian President Hassan Rouhani’s regime less dependent on the Strait of Hormuz, often a source of international tension. The location of the new oil terminal, a project that began in 2019 and will cost some $2 billion, will also reduce transportation and insurance expenses for oil tankers. “This is a strategic move and an important step for Iran. It will secure the continuation of our oil exports,” Rouhani said in a televised speech, according to state-run media. The Strait of Hormuz, a crucial channel located between the ... (full story)