Iran’s parliament approves closure of Strait of Hormuz

Iran’s parliament has approved to close the strategically vital Strait of Hormuz, a key global oil shipping route, following US strikes on Iran’s nuclear sites, state-run Press TV reported on Sunday. Major General Kowsari, a member of the parliament’s National Security Committee, told state media that while the parliament has reached a consensus in favor of closing the strait, the final decision rests with Iran’s Supreme National Security Council, the country’s highest security authority.Strait of Hormuz is the only sea route that connects the Persian Gulf to the open ocean and is home to major oil producers such as Iran, Saudi Arabia, Iraq, Kuwait, and the UAE.
The Strait of Hormuz, situated at the mouth of the Persian Gulf, is one of the most critical chokepoints in global trade, with roughly 20 percent of the world’s oil passing through it. According to various estimates, roughly 20 percent of the world’s oil, about 17 to 18 million barrels per day, passes through the Strait of Hormuz, making it important for global energy. The narrow strait also sees the transit of a significant amount of liquefied natural gas (LNG), especially from Qatar, which is one of the world’s top LNG exporters.