Iranian Parliament proposes to close the Strait of Hormuz and awaits decision of the Supreme Security Council
Photo: Internet
Published at: 22/06/2025 11:23 AM
Iran's Parliament reached a consensus to close the Strait of Hormuz, in direct response to U.S. President Donald Trump's bellicose rhetoric against the Islamic Republic
The decision to close now depends on the Supreme National Security Council.
The announcement was made by General Kosari, a deputy of the National Security Commission, and he assured that this determination comes in the midst of U.S. military aggression that could trigger a global energy crisis.
The Strait of Hormuz constitutes the vital artery of global oil trade, channeling more than 80 percent of the crude oil that transits this narrow maritime belt, according to data from Tanker Trackers, reported by TeleSUR.
Experts agree that this measure would reduce the world's supply of crude oil by 20 and 35 percent, potentially raising the cost of a barrel to more than $250.
Western analysts predict that even without a total blockade, the increase in insurance costs against war risks would be enough to skyrocket global oil and gasoline prices.
Most multinational companies would be affected within days due to the depletion of energy supplies essential to their operations. Countries in the Persian Gulf, including Qatar and Saudi Arabia, would suffer enormous losses in their Gross Domestic Product when exports of liquefied petroleum gas stopped.
Mazo News Team