On June 20, 2026 the «Khatam al-Anbiya» Central Command announced the closure of the Strait of Hormuz to shipping. According to the military, the reason was alleged violations of the Islamabad memorandum on the part of the US and Israel.
This decision directly contradicts the recent efforts to reduce tension and once again creates risks for global oil transit at a moment when the markets have already priced in an easing of the situation.
Statement of the military command
The «Khatam al-Anbiya» Central Command — Iran's supreme joint headquarters — called the closure the «first step» and warned of new measures if the aggression continues.
All of Iran's main state media reported the statement. Against this backdrop unfolded the conflict that began after strikes by the US and Israel in late February 2026 and the introduction of earlier restrictions on passage through the strait.
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About 21 million barrels of oil and petroleum products are transported through the Strait of Hormuz daily, which amounts to roughly 20% of global consumption of liquid petroleum products and about a quarter of all seaborne oil trade. These estimates are provided by the US Energy Information Administration.
Besides oil, large export shipments of liquefied natural gas from Qatar and the UAE travel through the strait. Disruptions in this region have always intensified price volatility, since alternative routes for the Persian Gulf countries are practically nonexistent.
Disagreements over the Islamabad memorandum
The 14-point Islamabad memorandum, agreed around June 17, 2026, provided that Iran would make every effort to ensure the safe and free passage of commercial vessels during the first 60 days.
The plan also envisaged ending the US naval blockade of Iranian ports. Vessel traffic began to recover after this agreement was reached, which helped lower energy prices.
Source: BeInCrypto
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