Authorities say a decision to close the Strait of Hormuz is “on the agenda” and “will be taken if necessary.”
Iran's parliament has approved the closure of the Strait of Hormuz. The final decision is to be made by the Supreme National Security Council.
Al Arabia writes about this.
As reported in the media, the decision to close the strait, through which about 20 percent of the world's demand for oil and gas passes, is not yet final.
“But lawmaker and commander of the Islamic Revolutionary Guard Corps Esmail Kosari told the Young Journalists Club on Sunday that the issue is on the agenda and will be taken up when necessary,” the report said.
Earlier we wrote that Iran's blocking of the Strait of Hormuz could trigger a rise in oil prices. As alternative energy entrepreneur and economist Oleg Sarkits explained, 20% of oil passes through this channel. In addition, Iran is the largest supplier of oil to China, which is the second largest oil consumer in the world.
But now there is a threat of blocking and hitting tankers, which is worrying. Saudi Arabia, UAE, Qatar and others have been partially blocked. They supply about 40% of the production. Yes, they can ship through the Red Sea, but in that case there will still be an increase.
“If oil currently costs $76 per barrel, then we can reach $100-120 per barrel,” the expert noted.
