Sun Jun 22 14:47:14 UTC 2025: Here’s a summary and news article based on the provided text, focusing on the Indian perspective:
**Summary:**
Amid escalating tensions in the Middle East following US strikes on Iranian nuclear facilities, Iran’s parliament has reportedly approved a measure to close the Strait of Hormuz. This critical waterway handles approximately 20% of global oil traffic, and its closure would have significant implications for India, which imports about 80% of its oil. While concerns arise about potential price hikes and shipping delays, India’s Petroleum Minister Hardeep Puri assures the public that the government has taken steps to diversify oil supplies and maintain reserves, mitigating the impact of the situation.
**News Article:**
**Strait of Hormuz Closure Threatens Global Oil Supply; India Assesses Impact**
**New Delhi, June 22, 2025** – Tensions in the Middle East spiked again today as reports emerged that Iran’s parliament, the Majlis, has approved the closure of the Strait of Hormuz following US strikes on Iranian nuclear facilities. State-owned PressTV cited Majlis member Esmaeil Kowsari in its report. The Strait of Hormuz is a crucial chokepoint for global oil shipments, with approximately 20% of the world’s liquid petroleum passing through it in 2024 and continuing into the first quarter of 2025, according to the U.S. Energy Information Administration.
The closure of this waterway would have significant repercussions for global energy markets and trade, particularly for countries like India, which imports roughly 80% of its oil requirements.
“Any disruption to traffic through the Strait could trigger significant shipping delays and cost increases, previously estimated to be in the region of 40-50%, with shipping times increasing by 15-20 days.”
However, Indian Petroleum Minister Hardeep Puri has sought to reassure the public, stating that the government is closely monitoring the situation and has taken steps to mitigate the potential impact.
“We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks,” Mr. Puri posted on X. “Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now.”
He added that India’s Oil Marketing Companies have sufficient reserves and are receiving supplies from various routes. “We will take all necessary steps to ensure stability of supplies of fuel to our citizens,” he affirmed.
The final decision regarding the closure of the Strait of Hormuz rests with Iran’s Supreme National Security Council. The situation remains fluid, and its impact on India’s economy and energy security is being closely watched.
First Piper 