Oil trade’s lifeline Strait of Hormuz faces blockade

Monday, 23 June 2025 04:41 - - {{hitsCtrl.values.hits}}

Iran’s Parliament has approved blocking the Strait of Hormuz, a key route for 20% of global oil. Final approval depends on the Supreme National Security Council and Supreme Leader Ayatollah Khamenei.

After the US struck three Iranian military sites, all eyes are now on Iran’s potential retaliation. In the range of options Iran has, possibly the most discussed is the threat to block the Strait of Hormuz. So far, most experts had agreed that Iran would not go that far.

America’s actions yesterday seemed to have changed that.

Iran’s Foreign Minister Seyed Abbas Aragchi, when asked by reporters about Hormuz, said simply that “a variety of options are available with Iran.”

US Secretary of State Marco Rubio called on China to encourage Iran to not shut down the Strait. Rubio said on Fox News, “I encourage the Chinese Government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil. If they do that, it will be another terrible mistake. It’s economic suicide for them if they do it.”

The Strait is in the territorial waters of Iran and Oman, and accounts for a big bulk of the world’s oil trade.

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