The Iranian Parliament could close the Strait of Hormuz.
- It is an artery only 34 km wide.
- It carries 30% of the world’s oil and 1/3 of its liquefied natural gas.
- It is the hub of global energy trade; its closure could lead to a collapse of the global economy.
Iran threatens to block ‘Strait of Hormuz Crisis’: What it means for India & the World | EXPLAINED
What is the Strait of Hormuz, and why does it matter to India? Iran is now threatening to block this critical oil route after US strikes on its nuclear facilities. Nearly 20% of the world’s oil passes through this narrow stretch. If Iran shuts it, global oil prices could skyrocket, pushing petrol prices in India through the roof. How prepared is India? What’s America’s strategy? Will China step in? Watch this explainer to know how a 33 km waterway can impact your fuel, flights, and monthly expenses.