World Braces For Potential Energy Shock
The post World Braces For Potential Energy Shock appeared on BitcoinEthereumNews.com. ANKARA, TURKIYE – JUNE 17: An infographic titled “Strait of Hormuz” created in Ankara, Turkiye on … More June 17, 2025. Connects oil and LNG production in the Middle East to global markets via the Arabian Sea and the Indian Ocean. (Photo by Murat Usubali/Anadolu via Getty Images) Anadolu via Getty Images There are several important energy chokepoints around the world, but none is more significant and vulnerable than the Strait of Hormuz. Now, following the U.S. bombing of Iranian nuclear facilities on Saturday, the Iranian Parliament has reportedly voted to close this important energy transit chokepoint. Such a move could severely disrupt the world’s energy markets. While the final decision still rests with Iran’s Supreme National Security Council–and Iran has failed to follow through on previous threats to close the Strait–the vote signals intent to weaponize one of the world’s most economically sensitive maritime corridors. If carried out, the consequences would be swift, severe, and global. Let’s take a closer look at how we got here—and why the stakes are so high. Background On June 21, the United States launched coordinated airstrikes on Iranian nuclear facilities at Fordow, Natanz, and Esfahan. The strikes marked the most serious U.S.–Iran escalation in over a decade. The campaign featured B-2 stealth bombers and submarine-launched Tomahawk missiles. In his remarks following the strike, President Trump struck a conciliatory tone, stating, “Now is the time for peace.” Iran, unsurprisingly, interpreted it differently. Within hours, the Iranian parliament voted to close the Strait of Hormuz—a move the U.S. would certainly interpret as a major escalation. Secretary of State Marco Rubio told Fox News, “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…
The post World Braces For Potential Energy Shock appeared on BitcoinEthereumNews.com.
ANKARA, TURKIYE – JUNE 17: An infographic titled “Strait of Hormuz” created in Ankara, Turkiye on … More June 17, 2025. Connects oil and LNG production in the Middle East to global markets via the Arabian Sea and the Indian Ocean. (Photo by Murat Usubali/Anadolu via Getty Images) Anadolu via Getty Images There are several important energy chokepoints around the world, but none is more significant and vulnerable than the Strait of Hormuz. Now, following the U.S. bombing of Iranian nuclear facilities on Saturday, the Iranian Parliament has reportedly voted to close this important energy transit chokepoint. Such a move could severely disrupt the world’s energy markets. While the final decision still rests with Iran’s Supreme National Security Council–and Iran has failed to follow through on previous threats to close the Strait–the vote signals intent to weaponize one of the world’s most economically sensitive maritime corridors. If carried out, the consequences would be swift, severe, and global. Let’s take a closer look at how we got here—and why the stakes are so high. Background On June 21, the United States launched coordinated airstrikes on Iranian nuclear facilities at Fordow, Natanz, and Esfahan. The strikes marked the most serious U.S.–Iran escalation in over a decade. The campaign featured B-2 stealth bombers and submarine-launched Tomahawk missiles. In his remarks following the strike, President Trump struck a conciliatory tone, stating, “Now is the time for peace.” Iran, unsurprisingly, interpreted it differently. Within hours, the Iranian parliament voted to close the Strait of Hormuz—a move the U.S. would certainly interpret as a major escalation. Secretary of State Marco Rubio told Fox News, “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…
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