Iranian Parliament votes to close vital Strait of Hormuz after U.S. strikes on nuclear sites, disruptions likely to impact oil prices for India

Iran’s Parliament, the Majlis, has reportedly approved the closure of the Strait of Hormuz in response to the attacks by the U.S. on Iranian nuclear facilities, the country’s state-owned media PressTV reported on Sunday (June 22, 2025), citing Esmaeil Kowsari, a member of the Majlis.

U.S. strikes Iranian nuclear facilities updates on June 22, 2025

According to the report, the final decision on the closure of the Strait of Hormuz lies with Iran’s Supreme National Security Council. The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, and is one of the world’s most important oil trade routes.

According to the U.S. Energy Information Administration, about 20% of global liquid petroleum travelled through the Strait of Hormuz in 2024, with the trend continuing in the first quarter of 2025. 

India imports about 80% of its oil requirement, meaning that disruptions in the Strait of Hormuz will likely impact the price of oil that India purchases. The Strait of Hormuz is also a vital trade route for ships travelling to and from India.

Soon after Israel attacked Iran, The Hindu reported on June 13 that disruptions in the Strait of Hormuz would lead to a 40-50% increase in shipping costs and a 15-20 day increase in shipping times.