Iranian military spokesperson: Hormuz could be closed long-term to the U.S. and Israel

Source
JH Kim

Summary

  • An Iranian military spokesperson said the possibility of a long-term closure of the Strait of Hormuz was raised in response targeting the U.S. and Israel.
  • About 20% of global seaborne crude oil shipments pass through the Strait of Hormuz, heightening the potential impact on energy shipping routes.
  • Depending on future military tensions and maritime traffic conditions, potential effects on international oil prices, global commodity supplies, and logistics flows were cited.

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An Iranian military spokesperson said the Strait of Hormuz could be closed for an extended period to the United States and Israel. The remark is adding to concerns over potential disruption to energy shipping routes amid heightened tensions in the Middle East.

According to Walter Bloomberg on the 2nd (local time), the spokesperson referenced the possibility of blocking the Strait of Hormuz as a retaliatory measure targeting the U.S. and Israel. The comments came amid a recent run of military tensions.

The Strait of Hormuz is a maritime passage connecting the Persian Gulf and the Gulf of Oman. It is widely known that about 20% of global seaborne crude oil shipments pass through this corridor.

Iran has previously raised the prospect of controlling the Strait of Hormuz during periods of regional conflict. However, an actual blockade could affect exports from major oil-producing countries and global commodity supplies, making the international community’s response a key variable.

The United States has maintained the principle of ensuring freedom of navigation in the Strait of Hormuz. The remarks have prompted concerns that changes in the level of military tensions and maritime traffic conditions could influence international oil prices and logistics flows going forward.

Photo=Shutterstock
Photo=Shutterstock
JH Kim

JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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