Russia warns of global oil shock after Hormuz closure amid war

Russia’s Foreign Ministry warned that the closure of the passage of Hormuz to shipping amid the escalating Middle East conflict could trigger major disruptions in global oil and gas markets.

According to Russian Foreign Ministry officials, the strategic waterway, through which roughly 20 % of the world’s oil and significant liquefied natural gas supplies transit daily, has suspended crude, fuel and LNG shipments after military strikes involving the US-Israel and Iran.

Moreover, Russia expressed deep sorrow over reports of the assassination of Iran’s Supreme Leader Ayatollah Ali Khamenei, his family members and senior officials during recent hostilities. 

The ministry condemned such killings as violations of international law and called for urgent de-escalation and a return to diplomacy.

Meanwhile, shipping data show hundreds of vessels, including oil and LNG tankers, clustering near the Hormuz passage amid safety concerns, with warnings broadcast that “no ship is allowed to pass”. 

Industry analysts warn that even partial disruption of Hormuz shipments could send oil prices sharply higher when markets open, driven by fears of prolonged supply constraints. 

It is reported that the lack of alternative export routes for major Gulf producers, including Saudi Arabia, the UAE, Iraq, Kuwait and Iran, makes the passage closure particularly consequential for global energy flows and economic stability.