Global Oil Flow At Risk As Iran Moves To Block Key Shipping Route, Strait Of Hormuz

(MENAFN- The Rio Times) Iran's parliament has approved a plan to close the Strait of Hormuz, a narrow waterway that is one of the world's most important oil routes.

This move comes after the United States carried out airstrikes on Iranian nuclear sites. However, Iran's top security council still needs to give final approval before anything happens.

The Strait of Hormuz connects the Persian Gulf to the rest of the world. Every day, ships carry about 20% of the world's oil through this narrow passage.

If Iran blocks it, oil and gas shipments from countries like Saudi Arabia, Iraq, and the United Arab Emirates could not reach buyers in Asia, Europe, or elsewhere. This could make oil prices rise quickly, affecting many countries and businesses.

Iran has threatened to close the strait before, but it has never actually done it. Iran controls the northern side of the strait, while Oman controls the south.

The United States and other countries have navy ships in the area to keep the passage open. If Iran tries to block the strait, it would likely face a strong military response.

Closing the strait would also hurt Iran. Iran depends on this waterway to export its own oil, which is a major source of money for the country. Blocking the strait would cut off its own sales and make its economic problems worse.


Global Oil Flow at Risk as Iran Moves to Block Key Shipping Route, Strait of Hormuz
Countries in Asia, especially China, India, Japan, and South Korea, would feel the impact the most.

China gets about 20% of its oil from Iran and even more from other Gulf countries. If oil shipments stop, these countries could face energy shortages and higher costs.

The United States is less dependent on oil from this region, but higher prices would still affect Americans and the global economy.

European countries that buy oil and gas from the Gulf would also face problems. Iran's parliament's approval is a serious warning, but the final decision has not been made.

If the strait closes, the world could see higher energy prices and more tension in the Middle East.

This situation shows how important the Strait of Hormuz is for global trade and why many countries pay close attention to what happens there.

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