MOSCOW, March 1 (Reuters) - Russia's foreign ministry said on Sunday that the closure of the Strait of Hormuz to shipping could lead to significant disbalances on the global oil and gas markets.
Russia Warns Strait of Hormuz Closure Could Disrupt Global Oil Markets
Potential Impacts and Reactions to the Strait of Hormuz Closure
Russian Foreign Ministry's Statement
MOSCOW, March 1 (Reuters) - Russia's foreign ministry said on Sunday that the closure of the Strait of Hormuz to shipping could lead to significant disbalances on the global oil and gas markets.
Suspension of Shipments and Market Concerns
Actions by Tanker Owners and Oil Majors
Trading sources said on Saturday that several tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of Hormuz after the U.S. and Israel attacked Iran and Tehran said it had closed navigation.
Significance of the Strait of Hormuz
Some 20% of global oil, including from producers Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran, passes through Hormuz along with large volumes of liquefied natural gas from Qatar.
Geopolitical Implications
Reactions to the Death of Iranian Leaders
The Russian foreign ministry said that the news of the killing of Ayatollah Ali Khamenei, members of his family and some high-ranking Iranian officials was met with resentment and deep regret in Russia.
Challenges for Moscow
Regional Dynamics and Russian Strategy
With Russian allies ousted in Syria and Venezuela, the fall of Khamenei poses a challenge for Moscow, though the Kremlin has shown little appetite to date for challenging U.S. President Donald Trump over Iran and has been more successful than the West predicted in negotiating with Syria's new rulers.
Condemnation of Political Assassinations
"The Russian Federation resolutely and consistently condemns the practice of political assassinations and the 'hunting' of leaders of sovereign states, which contradicts the fundamental principles of civilized interstate relations and grossly violates international law," the ministry said in a statement.
Calls for De-escalation
The ministry also called for urgent de-escalation, and end to fighting and a return to political and diplomatic efforts.
(Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge )
