Iran MPs approve Hormuz closure, US warns of oil, trade disruption

Iran's Parliament, known as the Majlis, has approved the closure of the Strait of Hormuz following US strikes on Iranian nuclear sites, according to a report by state media outlet PressTV on Sunday, 22 June 2025. The report cites senior lawmaker Esmaeil Kowsari.
Kowsari, a member of the Majlis Committee on National Security and Foreign Policy, said lawmakers had reached an agreement to close the strait in response to US actions and the lack of an international response.
Kowsari said, 'The Parliament has come to the conclusion that it should close the Hormuz Strait, but the final decision lies with the Supreme National Security Council.'
The Strait of Hormuz, situated at the entrance to the Persian Gulf, is one of the world's most important trade routes, especially for oil imports. It is estimated that around 20 per cent of the global oil supply — about 17 to 18 million barrels per day — passes through the strait. It is also a major route for the export of liquefied natural gas (LNG), particularly from Qatar.
Reacting to Iran's decision, US Secretary of State Marco Rubio called the move 'economic suicide'. Speaking to Fox News, Rubio said, 'I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil.'
Rubio further added, 'If they do that, it will be another terrible mistake. It's economic suicide for them if they do it. And we retain options to deal with that, but other countries should be looking at that as well. It would hurt other countries' economies a lot worse than ours.'
Importantly, the strait is the only maritime route connecting the Persian Gulf to open seas. It is used by major oil-producing countries, including Iran, Saudi Arabia, Iraq, Kuwait and the UAE.
The media report from PressTV also warns that any interruption in the Strait of Hormuz could cause global oil prices to surge and undermine international energy security. Citing experts, the report warned that a major disruption in the strait could halt operations at multinational companies within days due to fuel shortages.
India, which imports about 80 per cent of its oil, is likely to feel the impact of any disruption in the strait. The route is also critical for ships travelling to and from Indian ports.
According to a report by The Hindu on 13 June, any disruption in the Strait of Hormuz could lead to a 40–50 per cent rise in shipping costs and delays of up to 15–20 days.

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