Iran’s Parliament Supports Potential Closure of Hormuz Strait
On Sunday, Iranian lawmakers expressed their backing for a plan to close the Strait of Hormuz, a crucial maritime passage responsible for about 20% of global oil and liquid consumption as of 2024. This development follows recent US military strikes aimed at significant nuclear sites such as Fordow, Natanz, and Isfahan, intended to disrupt Iran’s nuclear ambitions.
Iranian state media indicated that while the parliament has agreed on the measure, the ultimate decision lies with the Supreme National Security Council. With that in mind, there remains uncertainty, as noted by national security expert Claire Lopez in her remarks to One American News.
“Considering China’s reliance on Iranian oil, it’s hard to say how the council will act, given Iran’s dependence on those revenues,” Lopez stated. “A closure would undoubtedly have dire implications for global oil supply and pricing.”
Nearly half of China’s crude oil comes through this strait, emphasizing its importance as a choke point. Other nations, including India, Japan, and South Korea, could also face significant shortages, potentially leading them to tap into strategic oil reserves. Furthermore, the global shipping industry would likely struggle with increased costs and delays, as tankers would need to navigate around Africa instead.
In an interview with NBC News, Vice President JD Vance labeled the closure of the strait as a grave mistake on Iran’s part.
“I think it would be a form of economic suicide for Iran,” Vance suggested. “Their economy heavily relies on this strait. If they aim to destabilize their own economy and cause global chaos, then that’s their call, but it begs the question: why?”
A substantial portion—around 85%—of Iran’s government income is derived from exports through the Strait of Hormuz, accounting for 2.6 million barrels of oil daily. Vance emphasized the need for Iran to pursue diplomatic pathways rather than escalating tensions.
“It doesn’t make sense for them or anyone else,” Vance remarked. “What would make sense is for them to engage in negotiations and reconsider their nuclear weapons program. If they are prepared to do so, they’ll likely find a willing partner in the US.”
