Iran leaves the world stunned with its decision to close Strait of Hormuz, oil prices could reach…, effect on India will be…

New Delhi: America has attacked Iran’s nuclear bases. After this, the situation in the Middle East has become more explosive. Meanwhile, Iran has made a big announcement. Iran’s Parliament has approved the proposal to close the strategically very important Strait of Hormuz. After this decision, oil prices are sure to increase in other countries.

This is the same route through which about one-third of the world’s sea oil trade passes. This decision was reported by Iran’s state-run Press TV on Sunday. After this, there has been a stir in global oil markets and strategic circles.

Importance of Strait of Hormuz

The Strait of Hormuz connects the Persian Gulf and the Gulf of Oman. It is also one of the busiest and most sensitive oil routes in the world. Most of the oil exports of countries like Saudi Arabia, Kuwait, Iraq, UAE and Qatar take place through this route.

The Strait of Hormuz is one of the most important sea routes in the world. This route is about 96 miles long and its width is only 21 miles at the narrowest point. There are only two-mile shipping lanes for movement from both sides in this waterway, which Iran can close at any time. After the decision to close it, it is now certain that the prices of crude oil can skyrocket, because there will be problems in the movement of ships and the cost of transport will increase manifold.

Final decision is of Security Council

Major General Kovasari, a member of the National Security Committee of Iran’s Parliament, said in a conversation with state media, “There is a consensus in favor of closing the Strait of Hormuz, but the final decision will be taken by Iran’s Supreme National Security Council.” This council is the highest security institution of the country and the final military and diplomatic decisions are taken through it.

Closing the Strait of Hormuz is not just a geographical action but it can prove to be a major economic setback for the US and the West. This move can have a bad impact on oil supply, maritime trade and the world economy. Countries like India which import most of their oil from West Asia can also face difficulties.

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