Up to 20% of global oil and petroleum product exports pass through the Strait of Hormuz, which is located between Iran and the UAE.
The decision to close the Strait of Hormuz, the world's most important oil shipping route, will depend on Iranian Foreign Minister Abbas Araghchi's visit to Moscow.
This assumption was made by the director of the Center for Middle Eastern Studies, Igor Semivolos, on the air of the Espreso TV channel.
Iran will likely leave the issue “up in the air” for some time, he said.
“Obviously, much will depend on the results of the meeting that the Iranian Foreign Minister is currently holding [during a visit to Moscow], which began today. We are waiting for some news from there,” the expert said.
Igor Semivolos also believes that China will have an influence on the adoption of such a decision.
“On Monday, this issue will obviously be brought before the UN Security Council. It will go through a certain cycle of discussions and only after that will some decisions be made,” he suggested.
As is known, up to 30% of the world's liquefied natural gas supplies and up to 20% of global oil and oil product exports pass through the Strait of Hormuz, which is located between Iran and the UAE.
Sky News economics correspondent Gurpreet Narwan previously predicted that blocking the route could push oil prices to more than £74 a barrel (almost $100).
Recall that, according to Al Arabia, the Iranian parliament has agreed to close the Strait of Hormuz, but the final decision must be made by the Supreme National Security Council.
