Persian Gulf naming dispute region, who did not use the term "Persian Gulf". In 2011 President Mahmoud Ahmadinejad made a speech to the United Nations General Assembly during which he said that the only correct name of the sea between Iran and the Arabian peninsula was the Persian Gulf, and he dismissed the use of any other names as illegitimate and void. Iran designates 30 April as National Persian Gulf Day. The date coincides with the anniversary of Abbas I of Persia's successful military campaign when the Portuguese navy was driven out of the Strait of Hormuz in the Capture of Ormuz (1622). The
Persian Gulf petrochemical industry. In 2002, the Persian Gulf nations of Bahrain, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, and the UAE produced about 25% of the world's oil, held nearly two-thirds of the world's crude oil reserves, and about 35% of the world's natural gas reserves. The oil-rich countries (excluding Iraq) that have a coastline on the Persian Gulf are referred to as the "Persian Gulf States". Iraq's egress to the gulf is narrow and easily blockaded consisting of the marshy river delta of the Shatt al-Arab, which carries the waters of the Euphrates and the Tigris rivers, where the east bank