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Iraqi expert warns: Hormuz closure would paralyze Gulf
Shafaq News/ The closure of the Strait of Hormuz would bring the Gulf region to a standstill and throw global energy markets into chaos, Iraqi economist Hilal al-Taan warned on Tuesday.
Al-Taan explained to Shafaq News that any move to shut the strait would restrict maritime traffic, halt oil exports, and raise shipping and insurance costs. 'It would paralyze the Gulf and impact the entire world,' he cautioned, noting that major ports like Jebel Ali in the UAE would be directly affected.
He stressed that oil-dependent economies like Iraq, Kuwait, and Bahrain would suffer severe financial consequences, as the shipping lane is a vital artery for their exports.
The Strait of Hormuz, a narrow waterway between Iran and Oman, is one of the world's most critical energy chokepoints. Roughly 18 to 19 million barrels of oil, condensates, and fuel—about one-fifth of global consumption—pass through it daily, along with nearly 11 billion cubic feet of liquefied natural gas.
The warning follows statements by Iranian lawmaker Brigadier General Esmail Kowsari, who confirmed that Tehran is seriously considering closing the maritime corridor in response to Israeli airstrikes. 'We are studying the matter carefully and will act decisively if necessary.'
