Latest news with #HosseinShariatmadari
Mint
3 hours ago
- Business
- Mint
US Strikes Iran: The significance of Strait of Hormuz for global oil supply – explained in 5 points
US Strikes Iran: The US strike on three key nuclear facilities in Iran on Saturday night has put the spotlight back on the Strait of Hormuz – the strategically significant shipping pathway that carries about a fifth of the world's oil. Iran has long threatened to choke the Strait of Hormuz. In a fresh threat after the military strikes by its long-time foe, the United States, Hossein Shariatmadari, the Iranian Supreme Leader Ali Khamenei's representative, has reportedly called for immediate retaliation, including closing the Strait of Hormuz to American, British, German, and French ships. The Strait of Hormuz is a strait between the Persian Gulf and the Gulf of Oman. It provides the only sea passage from the Persian Gulf to the open ocean and is one of the world's most strategically important choke points. The Strait serves as the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait. This pathway allows about 20 per cent of the world's daily oil consumption—around 20 million barrels—to pass through it. The strait has been at the heart of regional tensions for decades, and recently, attacks have occurred near it and targeted alternative routes for oil bypassing Hormuz, news agency Reuters said. Recently, President Trump blamed Iran for the June 12 attacks on two oil tankers at the entrance to the Gulf despite Tehran's denials, stoking fears of a confrontation in the vital oil shipping route. On July 19 Iran's Revolutionary Guards said they had captured a British-flagged oil tanker in the Gulf after Britain seized an Iranian vessel on July 4. At present, approximately 50 large oil tankers are attempting to navigate out of the Strait of Hormuz, according to the media reports. Iran's fresh threat after US strikes has raised concerns about how disruptive a conflict in the Gulf could be for the global oil trade. But what if Iran closes the Strait this time? How will it impact India? The Strait links the Persian Gulf to the Indian Ocean. Any blockade would drive the oil price up and cause inflation. Over two-thirds of India's oil imports and nearly half of its liquefied natural gas (LNG) imports transit through the Strait of Hormuz. Of the 5.5 million barrels of oil India consumes every day, 1.5 million pass through the waterway. 'If Iran closes the Strait of Hormuz, India will definitely suffer. About 20 per cent of the world's crude oil and 25 per cent of the world's natural gas flow through these,' Foreign Affairs Expert Robinder Sachdev told news agency ANI. India will suffer because oil prices will go up, inflation will rise, and there is an estimate that for every ten-dollar increase in the price of crude oil, india's GDP will suffer by 0.5 per cent, he said. Union Minister Hardeep Puri said earlier this week that India plans to source crude oil from outside the Persian Gulf and to cut its own refined‑product exports, as a potential blockage of the Strait of Hormuz looms. 'We have enough diversified supplies of crude, and even if there were to be a disruption, we can source it from alternative suppliers,' Puri, the Union Minister of Petroleum and Natural Gas, told NDTV 'I don't think this is something we are unduly worried about,' he added. Ample crude is available on the global market, so the concern is not supply but price, the Minister said. India is a net exporter of petroleum goods, with refiners such as Reliance Industries Ltd. and Nayara Energy shipping to countries such as the United Arab Emirates, Singapore, the US and Australia. The crisis could reduce those shipments if needed to maintain sufficient stockpiles at home. India's product exports have averaged 1.3 million barrels a day so far this year, with Reliance and Nayara dominating the industry with 82 per cent of shipments, Bloomberg reported. The strait has never been closed, despite apprehensions that its closure in the past would disrupt the global oil supply. Experts said that while there might be a temporary disruption in maritime traffic, Iran might refrain from choking the Strait of Hormuz, as it will pinch its friends more than its enemies. 'There are three significant reasons why Iran might not actually do so, even while signalling that it might do so rhetorically. First, it will hurt Iran's friend, China, the world's second-largest economy, and Iran's largest trading partner. China, is the number one importer of oil, accounting for nearly three-quarters of its oil export,' Shweta Singh is an associate professor, Department of International Relations, Faculty of International Studies, South Asian University, wrote in Mint recently. So China, will not like to see any disruption in its maritime oil shipments, and might actually use its economic leverage with Iran to prevent Iran from the closure of the narrow lane, she said 'Second, it will rupture Iran's relationship with Oman (which owns the southern half of the strait) and the Gulf Cooperation Council (GCC States). With Oman, careful crafting of a relationship has resulted in greater dependency for Iran on a wide range of issues,' Singh added. During the Iran–Iraq War in the 1980s, the two countries engaged in what is called the ' Tanker War'. Tehran targeted Kuwaiti and Saudi tankers, as Iraq retaliated with missile strikes. The US launched Operation Earnest Will to protect Kuwaiti oil tankers from Iranian attacks during the Iran-Iraq War. It was a key part of the larger 'Tanker War' and involved the largest maritime convoy operation since World War II. This oil war led to a hike in prices across the world, but still, the Strait remained open. 'Third, domestically this might not work for the interest of the regime, as any economic hits or closure of its oil exporting terminal, will see a surge in prices, and fuel popular discontent, which might impact both regime stability, and reformist tendencies for President Masoud Pezeshkian,' Singh wrote. Steven Schork, Schork Group principal and editor, told Bloomberg, that he does not think Iran will close the Strait of Hormuz because it would hurt India and China, two of their biggest oil export clients. If Iran closes the Strait of Hormuz, India will definitely suffer. About 20 percent of the world's crude oil and 25 percent of the world's natural gas flow through these. In 2011-2012, Iran again threatened to close the Strait in response to European and US sanctions against its oil exports and banking system. The then-Iranian Vice President Mohammad Reza Rahimi warned of a complete shutdown if oil sanctions were enforced. The Strait, however, was not closed. Likewise, in 2019, when the US withdrew from the Iran nuclear deal and tensions soared, apprehensions of closure gripped the globe yet again. But despite severe escalation, the Strait remained functional.
NDTV
5 hours ago
- Business
- NDTV
"Our Turn To Act Without Delay": Iran's Warning After US Bombs Nuclear Sites
New Delhi: Hours after the United States joined Israel's war against Iran by bombing Tehran's three key nuclear sites, Iran's Supreme Leader Ayatollah Ali Khamenei warned of retaliation "without delay". LIVE UPDATES Hossein Shariatmadari, Khamenei's representative, told an Iranian media that as a first step, they will launch a missile attack on the US naval fleet in Bahrain and close the Strait of Hormuz. "It is now our turn to act without delay. As a first step, we must launch a missile strike on the US naval fleet in Bahrain and simultaneously close the Strait of Hormuz to American, British, German, and French ships," Shariatmadari said as quoted by Iran International. Iran has previously, on multiple occasions, threatened to block the Strait of Hormuz but never followed through. The Strait of Hormuz lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond. About a fifth of the world's total oil consumption passes through the strait. OPEC members Saudi Arabia, Iran, the United Arab Emirates, Kuwait, and Iraq export most of their crude via the strait, mainly to Asia. The US Fifth Fleet, based in Bahrain, is tasked with protecting commercial shipping in the area. US responds to Strait of Hormuz closure threat Former Pentagon official Michael Rubin warned Iran that it would "suffer the most" if it tried to close the Strait of Hormuz, adding that it might cause short-term disruptions in the oil supply to several countries and to some degree in India. According to him, if Tehran shuts the narrow waterway, it would be "committing suicide". "40 per cent of the fuel that goes through the Strait of Hormuz ends up in Asia, most of that in China, but also to some degree in India, and so there might be a short disruption. However, there is an ability to have an alternate supply. The United States is a major supplier right now. Also, remember that Iran needs to import gasoline. So the Iranians might rhetorically talk about closing the Strait of Hormuz, but militarily, they cannot do that for more than a day," he told news agency ANI. Ex-US Treasury Department official, Jonathan Schanzer, also warned that the US will respond with "unbelievable force" if Iran attempts to close the Strait of Hormuz. "Any attempt to close the Strait of Hormuz right now will be met with probably unbelievable force from the United States. Now that this has started, it's not that difficult to imagine the French or the Brits coming in to clear the lanes. I see the Iranians as being absolutely suicidal if they go down this route, and I do get a sense that we could be at a pivotal moment. It doesn't mean that Iran won't try to attack, but I think asymmetrically is much more likely than through conventional means," Schanzer said. The US on Sunday bombed Tehran's three key nuclear sites - Fordow, Natanz, and Isfahan - in a first-ever direct US military involvement in the conflict. It came days after US President Donald Trump said he would take as long as two weeks to decide whether the US should enter the conflict on Israel's side. One of the Iranian nuclear sites, Fordow, was Iran's most secretive and heavily protected nuclear facility, which only the US had the firepower to destroy. According to Trump, the American planes "completed a very successful attack". In retaliation, Tehran launched new strikes on Israel. In a post on X, the Israel Defense Forces (IDF) said that "sirens were sounding across Israel due to another Iranian missile launch".
News18
8 hours ago
- Politics
- News18
'Now It's Our Turn': Iran Calls For Missile Strike On US Fleet, Closure of Strait Of Hormuz
Last Updated: Echoing the Supreme Leader's stance, Hossein Shariatmadari, Khamenei's representative, urged immediate retaliation. Amid rising tensions following the US airstrikes on Iranian nuclear facilities, Supreme Leader Ayatollah Ali Khamenei issued a stark warning to Washington, declaring, 'Americans should expect greater damage and blows than ever before." His statement signaled a potential escalation and underscored Iran's intent to respond forcefully to what it views as an unprovoked act of war. Echoing the Supreme Leader's stance, Hossein Shariatmadari, Khamenei's representative, urged immediate retaliation. 'It is now our turn to act without delay. As a first step, we must launch a missile strike on the US naval fleet in Bahrain and simultaneously close the Strait of Hormuz to American, British, German, and French ships," he said, reflecting the growing call within Tehran for decisive military action. Trump, however, warned that any response from Iran would be met with overwhelming force. 'Any retaliation by Iran against the United States of America will be met with force far greater than what was witnessed tonight. Thank you!," he stated. Iran Says Residents 'Face No Danger' Iranian state media reported that there is 'no danger" to residents following the US airstrikes on a key nuclear facility, assuring the public that the situation remains under control despite the severity of the attack. Iran's Atomic Body Defiant Iran's atomic agency said on Sunday that the country will carry on with its nuclear activities despite the US attacks on key facilities. 'The Atomic Energy Organization of Iran assures the great nation of Iran that despite the evil plots of its enemies … it will not let the path of development of this national industry (nuclear), which is the result of the blood of nuclear martyrs, be stopped," the organisation said in a statement published by state media. First Published: June 22, 2025, 08:18 IST
