Iran nearly triggered global oil crisis by mining key shipping route - Reuters
Photo: Iran planned to mine the Strait of Hormuz (Getty Images)
Iran planned to mine the Strait of Hormuz during its military conflict with Israel. The Strait handles about 20% of global oil and gas shipments, Reuters informs.
According to Reuters sources, shortly after Israel began air strikes, Iranian military forces loaded naval mines onto ships in the Persian Gulf.
This heightened Washington's fears that Tehran intended to block one of the world’s busiest shipping lanes and disrupt global trade. As a result, the mines were not deployed in the strait. However, it remains unclear whether they were unloaded from the ships.
Iran's intentions
Reuters' sources suggested that Iran might not have actually planned to mine the strait. Instead, it used the threat as a tactic to influence the United States. However, the Iranian parliament voted to block the passage after the US attacked three of Iran's key nuclear sites.
The final decision was supposed to be made by Iran's Supreme National Security Council, but it did not take such action. The White House stated that the Strait of Hormuz remains open thanks to a "brilliant execution" that significantly weakened Iran, along with a successful campaign against the Houthis.
The importance of the Strait of Hormuz to the global economy
The Strait of Hormuz connects the Persian Gulf and the Gulf of Oman in the Arabian Sea. It lies between Iran and Oman and mainly falls within the territorial waters of these two countries. Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq export most of their crude oil through this strait.
According to Vortex data, daily flows through the strait ranged from 17.8 to 20.8 million barrels from early 2022 to May 2025. These shipments mostly go to Asia. Nearly all of Qatar's liquefied natural gas exports — one of the world's largest suppliers — also pass through the strait.
Blocking the Strait of Hormuz could cause a sharp rise in global energy prices, Reuters notes. Iraq's Foreign Minister warned that oil prices could reach $200 to $300 per barrel if about 5 million barrels per day from the Persian Gulf were lost.
Earlier reports indicated that commercial ships near the Strait of Hormuz off Iran's coast have been sending false data about their national identity in large numbers to avoid attacks.
