Iran’s ambassador to the United Nations said Tehran does not intend to shut the strategically vital Strait of Hormuz, offering a measure of relief to governments already scrambling to contain the economic fallout from fears that the waterway could be sealed off during the escalating conflict involving the United States and Israel.
Amir Saeid Iravani told reporters on Thursday that Iran remained committed to freedom of navigation through the narrow maritime corridor, through which roughly one-fifth of the world’s oil supply normally passes.
“We are not going to close the Strait of Hormuz,” Iravani said. “But it is our inherent right to preserve the peace and security in this waterway.”
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His remarks came hours after Iran’s new supreme leader, Mojtaba Khamenei, said the “lever of blocking the Strait of Hormuz must continue to be used,” comments that had heightened global anxiety about a potential disruption to energy supplies.
Global Relief After Weeks Of Anxiety
Iravani’s statement appeared aimed at calming markets and governments that had begun preparing for the possibility of a full closure of the Strait — a scenario that analysts say could send oil prices soaring and trigger a major economic shock.
Even the threat of disruption has already rattled global markets, driving crude prices sharply higher and forcing governments to examine contingency plans for energy supply.
The Strait of Hormuz links the Persian Gulf with global markets and serves as the primary export route for oil producers across the Middle East. A complete shutdown could halt millions of barrels of daily oil shipments and disrupt flows of liquefied natural gas and petrochemical products.
Many countries heavily dependent on imported crude have been particularly alarmed. Among them is India, one of the world’s largest oil importers.
Following remarks by Iran’s leadership suggesting the Strait could remain closed, Indian Prime Minister Narendra Modi moved swiftly to engage Tehran. Within hours of the declaration, Modi held urgent talks with Iranian President Masoud Pezeshkian, according to people familiar with the discussions.
The rapid diplomatic outreach underscored New Delhi’s growing concern over supply disruptions and rising energy costs, which have already begun triggering panic buying in parts of the country as consumers and businesses brace for potential shortages.
India relies heavily on imported crude to power its economy, making any disruption to the Strait of Hormuz particularly sensitive for the government.
Shipping through the Strait remains tightly controlled as the conflict continues. According to sources familiar with regional shipping activity, only three countries — Russia, India, and China — are currently being allowed passage through the corridor, highlighting how geopolitical alliances are beginning to shape access to one of the world’s most critical energy chokepoints.
The restrictions have intensified anxiety among oil-importing nations that depend on stable maritime routes to secure energy supplies.
Even limited disruptions could tighten global oil markets and drive up fuel costs worldwide.
Tehran Blames U.S. Actions
In a prepared statement before taking questions, Iravani argued that the current instability in the region was not the result of Iranian actions but rather the escalation triggered by Washington.
“Iran fully respects and remains committed to the principle of freedom of navigation under the law of the sea,” he said.
“However, the current situation in the region, including in the Strait of Hormuz, is not the result of Iran’s lawful exercise of its right of self-defense.”
“Rather, it is the direct consequence of the destabilizing actions of the United States in launching aggression against Iran and undermining regional security.”
Meanwhile, the United States has signaled it may take steps to secure shipping through the waterway if tensions escalate further. Scott Bessent, the U.S. Treasury secretary, said in an interview with Sky News that the United States Navy could escort commercial vessels through the Strait, potentially as part of an international coalition.
Iravani declined to comment directly on those remarks.
Even with Tehran’s assurances, the situation around the Strait remains highly volatile. Analysts say the risk is not limited to a formal closure of the waterway. Military activity, shipping delays, and insurance risks for tankers could still disrupt global supply chains and push energy prices higher.
For an already fragile global economy, the Strait of Hormuz has once again become a focal point of geopolitical risk. While Iran’s statement that it does not intend to close the corridor may ease immediate fears, the continuing conflict means that the stability of one of the world’s most critical energy routes remains uncertain.