Esmail Kosari, a member of Iran’s parliamentary security committee, has stated that Iran is seriously considering closing the Strait of Hormuz. This threat comes amid heightened tensions following recent Israeli military actions against Iranian targets.
The Strait of Hormuz is one of the world’s most critical maritime passages. Approximately 20 million barrels of oil pass through it daily, accounting for roughly 20% of global oil consumption. Additionally, about 20% of the world’s liquefied natural gas (LNG) trade transits through this strait, according to foreign media reports.
Potential Global Economic Repercussions
A closure of the strait would have significant consequences for the global energy market, causing a surge in oil and gas prices and potentially leading to inflationary pressure on world economies. Historically, Iran has repeatedly threatened to close the strait in response to international sanctions or military threats, but it has never taken such a step until now.
However, recent Israeli military actions against Iranian targets have further escalated tensions in the region, raising concerns among shipping companies and energy traders. Some transporters are already avoiding the strait, and oil prices have risen due to fears of potential supply disruptions.
Geopolitical Significance and International Response
The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Indian Ocean, and control over this narrow passage gives Iran a significant geopolitical advantage. Nevertheless, any attempt to close the strait is likely to provoke a strong international reaction, including potential military intervention to ensure freedom of navigation.
