Iran Parliament Approves Closure of Strait of Hormuz
IRAN, JUL 24 – Iran's parliament approved closing the Strait of Hormuz as a response to recent U.S. airstrikes, with the decision pending national security council approval affecting 20% of global oil trade.
- Iranian lawmakers support closing the Strait of Hormuz, a crucial trade route for over a fifth of the world's oil supply daily.
- The closure could pressure the US by increasing oil prices, resulting in inflation globally.
- The decision to close the strait ultimately lies with Iran's Supreme National Security Council, despite parliamentary support.
- A complete closure may affect Finland's oil supply and pose risks for Europe's security, as the Strait of Hormuz is a critical chokepoint.
192 Articles
192 Articles
Closing The Strait Of Hormuz Will Be A Nightmare Scenario For The Global Economy – The Washington Standard
Our way of life depends on cheap energy. If you remove cheap energy from the equation, our society will be thrown into a state of chaos. The Iranians know that closing the Strait of Hormuz is one of the most powerful forms of leverage that they possess because the world is deeply dependent on the oil that travels through that waterway. We don’t know exactly how this crisis will play out, because the Strait of Hormuz has never been closed in m…
Road of Hormus: In a scenario, Iranian speedboats could stop, enter or establish ships – as happened in 2019.
If and when Iran closes the Strait of Hormuz
Faced with the prospect of continuing Israeli airstrikes and further American involvement, Iran’s parliament has reportedly approved plans to close the Strait of Hormuz. This is potentially a very dangerous moment. The Strait of Hormuz is an important shipping lane through which 20% of the world’s oil transits – about 20 million barrels each day. […] The post If and when Iran closes the Strait of Hormuz appeared first on Asia Times.
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