Why in News?
The Strait of Hormuz is Recently news because Iran temporarily closed parts of the waterway to conduct a live-fire naval drill.
Key Information
- Geography: A narrow maritime chokepoint between Iran (north) and the UAE/Oman (south) that connects the Persian Gulf to the Gulf of Oman and the Arabian Sea.
- Strategic Dimensions: It is approximately 167 km long and just 33 km wide at its narrowest point, with shipping lanes in each direction being only 3 km wide.
- Energy Lifeline: It is the world's most critical oil transit chokepoint; roughly 20–25% of global seaborne oil and 20% of global liquefied natural gas (LNG) pass through it daily.
- Major Exporters: Essential for oil and gas shipments from Saudi Arabia, UAE, Kuwait, Iraq, Iran, and Qatar.
- Asian Dependence: Approximately 80–85% of the oil transiting the strait is destined for Asian markets, particularly China, India, Japan, and South Korea.
- India's Stakes: India relies on this route for nearly 40% of its crude oil imports and over 50% of its LNG imports, making its stability vital for India's energy security.
- Economic Impact: Analysts estimate that a total blockade could cause oil prices to surge to between $120 and $150 per barrel.
- Legal Status: Governed by the UN Convention on the Law of the Sea (UNCLOS), which generally grants ships the right of "transit passage," though Iran has historically contested certain interpretations.
- Alternative Routes: Limited bypass options exist, such as Saudi Arabia's East-West Pipeline and the UAE’s Habshan-Fujairah Pipeline, but they currently only handle a fraction of the strait's total volume.
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