IEA warns global energy security at risk if Hormuz Strait stays closed

IEA Executive Director Fatih Birol warned that if the Strait of Hormuz does not reopen within weeks, global energy security will be jeopardised. The narrow waterway, which carries about one‑fifth of the world’s oil, has been effectively shut since the U.S. and Israel launched airstrikes against Iran on 28 February.

Birol said the impact is uneven, with Asian economies most exposed – 80‑90 % of their energy imports rely on the strait. Japan and South Korea have already felt the squeeze, while developing countries such as Pakistan, Bangladesh and India face the steepest burden. He also highlighted health risks in poorer nations, where soaring oil product prices force households, especially women, to switch to polluting fuels like wood and animal dung.

Although measures such as U.S. stockpiles, increased electric‑vehicle use and a recent IEA release of up to 400 million barrels have tempered price spikes, Birol cautioned that these are temporary. “If the situation does not improve in the coming weeks, we should be concerned, I am personally concerned,” he told a Council on Foreign Relations event.