Former U.S. Ambassador to NATO Kurt Volker discusses whether or not the U.S. assault on Iran will change the Center East on Varney & Co.
Iran has warned that it might try to shut the Strait of Hormuz to transport visitors in retaliation for the U.S. becoming a member of Israel’s strikes on Iranian nuclear services.
The Iranian authorities is mulling retaliatory actions, together with the potential closure of the Strait of Hormuz, a significant transport lane for international power provides. The regime in Iran may pursue that purpose via using mines, anti-ship missiles or different means to hinder or destroy transport.
Iranian state media just lately reported on such a plan being authorized by the nation’s parliament, although it emphasised that it will require clearance from the nation’s Supreme Nationwide Safety Council.
Roughly 20% of world demand for petroleum merchandise transits via the Strait of Hormuz – which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea and is bordered by Iran on one facet. The strait is lower than 30 miles throughout at its narrowest level, which might make it more difficult for vessels to transit the passage if Iran makes an attempt to shut it.
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Iran has threatened to aim to shut the Strait of Hormuz in retaliation for U.S. strikes on Iranian nuclear services. (Picture by Morteza Nikoubazl/NurPhoto by way of Getty Photographs / Getty Photographs)
The Vitality Info Administration (EIA) throughout the U.S. Division of Vitality famous that in 2024, oil flows via the strait averaged about 20 million barrels per day, with related ranges being reported within the first quarter of 2025.
“Flows via the Strait of Hormuz in 2024 and the primary quarter of 2025 made up greater than one-quarter of complete international seaborne oil commerce and about one-fifth of world oil and petroleum product consumption,” EIA wrote.
“As well as, round one-fifth of world liquefied pure fuel commerce additionally transited the Strait of Hormuz in 2024, primarily from Qatar.”
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The Strait of Hormuz is a slender transport passage via which one-fifth of world oil output passes. (Fox Information / Fox Information)
The EIA estimated that 84% of the crude oil and condensate and 83% of the liquefied pure fuel that moved via the Strait of Hormuz went to Asian markets in 2024.
“China, India, Japan and South Korea have been the highest locations for crude oil transferring via the Strait for Hormuz to Asia, accounting for a mixed 69% of all Hormuz crude oil and condensate flows in 2024. These markets would possible be most affected by provide disruptions at Hormuz,” the company stated.
EIA famous that the U.S. imported about 0.5 million barrels per day of crude oil and condensate from Persian Gulf international locations via the Strait of Hormuz, which accounted for about 7% of U.S. oil and condensate imports and a couple of% of U.S. petroleum liquids consumption.
Tankers are seen on the Khor Fakkan Container Terminal alongside the Strait of Hormuz, on June 23, 2025. (GIUSEPPE CACACE/AFP by way of Getty Photographs / Getty Photographs)
The most important exporters of crude and condensate that transit via the Strait of Hormuz are Saudi Arabia (5.3 million barrels per day), Iraq (3.2 million) and the United Arab Emirates (1.8 million). Iran ranked fourth at about 1.5 million barrels per day as of the primary quarter of 2025.
Secretary of State Marco Rubio appeared on Fox Information’ “Sunday Morning Futures” and advised host Maria Bartiromo that China and different international locations ought to discourage Iran from making an attempt to shut the Strait of Hormuz.
China is the primary importer of crude oil shipped via the strait, bringing in 5.4 million barrels per day within the first quarter of 2025, based on EIA information.
“I encourage the Chinese language authorities in Beijing to name them about that, as a result of they closely rely on the Strait of Hormuz for his or her oil,” Rubio stated. “In the event that they do this, it will be one other horrible mistake. It is financial suicide for them in the event that they do it. And we retain choices to take care of that.”
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The U.S. Navy has deployed two service strike teams to the area. (U.S. Navy photograph by Mass Communication Specialist 2nd Class Jacob Mattingly / DVIDS / Fox Information)
Rubio added that “different international locations ought to be taking a look at that as properly” and that it will “damage different international locations’ economies rather a lot worse than ours. It might be, I feel, an enormous escalation that may benefit a response, not simply by us, however from others.”
He additionally stated that Iran’s authorities is “gonna say what they should say. These are the issues that must occur for their very own inside politics and so forth.”
“We had three aims. We struck these three aims with decisive power, and that was the purpose of this mission, and that is what we achieved,” Rubio stated of the U.S. strikes on Fordow, Natanz and Isfahan.
A map of the U.S. strikes on Iran on June 21, 2025. (Fox Information / Fox Information)
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“What occurs subsequent will rely on what they need to do. They need to negotiate, we’re prepared to barter. They need to get cute and do issues which might be harmful, we have now responses out there which might be devastating,” Rubio stated.
