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.
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190 Articles
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.
What Is the Strait of Hormuz and Why Is It So Important?
Iran has threatened to close the Strait of Hormuz, in what would serve as another act of retaliation after the U.S. launched strikes on three key Iranian nuclear facilities over the weekend. Iran controls the Northern side of the Strait of Hormuz, a passage which sees significant global trade pass through daily. If it so wished, Iran could block vessels from journeying through, or disrupt trade by seizing and attacking shipping containers and oi…
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