News

Russia Warns of Oil Choke as Strait of Hormuz Closure Threatens Global Markets

Published by
WEB DESK

Strait of Hormuz closure has raised serious concerns for global energy markets. Russia has warned that the Strait of Hormuz closure could disturb oil and gas supplies worldwide.

Russia’s Foreign Ministry said on Sunday that blocking the key shipping route may cause major imbalance in global oil and gas markets.

The Strait of Hormuz is one of the world’s most important energy routes. Around 20 percent of global oil passes through this narrow waterway every day.

Oil from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, and Iran moves through this route. Large volumes of liquefied natural gas from Qatar also transit through it.

Trading sources said several tanker owners and energy companies have paused shipments of crude oil, fuel, and LNG through the Strait of Hormuz. This decision came after rising tensions involving the United States, Israel, and Iran.

According to reports, concerns increased after Tehran announced it had closed navigation in the area.

The Russian Foreign Ministry also reacted strongly to reports about the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and members of his family.

In a statement, Russia condemned political assassinations and attacks on leaders of sovereign states. It said such actions violate international law and damage global stability.

Moscow called for immediate de-escalation. It urged all sides to stop fighting and return to political and diplomatic dialogue.

The situation remains tense. Experts warn that if the Strait of Hormuz closure continues, it may push global oil prices higher and disrupt energy supplies in many countries.

WEB DESK

Recent Posts

PM Shehbaz condemns attacks on KSA, reaffirms Pakistan’s solidarity

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday strongly condemned the recent attacks on Saudi Arabia,…

15 minutes ago

Gold prices drop by Rs5,600 per tola in Pakistan

KARACHI: The gold prices in Pakistan have been reduced to Rs 424,136 following a reduction…

1 hour ago

When will Safar moon be sighted? SUPARCO predicts

ISLAMABAD: According to Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), the new moon of…

2 hours ago

11 died as house collapses in Kohat after heavy rains

KOHAT: A residential house collapsed due to heavy rain in the Malgin area of ​​Lachi…

3 hours ago

Alternative to the Strait of Hormuz Ready: UAE Decides to Build New Port

ABU DHUBAI: The United Arab Emirates has prepared a plan to establish a new multi-purpose port…

3 hours ago

Afghan Women’s refugee team could Play International matches by 2030

DUBAI: The International Cricket Council (ICC) is considering plans that could allow the Afghan women's…

4 hours ago