Nicosia: Deputy Minister of Shipping Marina Hadjimanolis told CNA that if Iran closes the Strait of Hormuz, this would cause an increase in fuel prices, vessel insurance costs, and would impact the supply chain and transport sector in general.
According to Cyprus News Agency, Hadjimanolis commented on the Iranian Parliament’s decision, which must be finalized by the country’s Supreme National Security Council, noting that developments are rapid and cause significant concern with global implications. “A possible closure of the Strait of Hormuz, one of the important strategic routes for international energy trade, would undoubtedly have ripple and immediate effects,” she noted.
The Deputy Minister elaborated that the first effects would be the increase in fuel prices and the cost of ship insurance, affecting supply chains and transport overall. The Republic of Cyprus, she emphasized, is closely monitoring and continuously evaluating all developments.
Hadjimanolis mentioned that the Deputy Ministry of Shipping issued specific instructions on June 17, 2025, with a relevant circular to the shipping community, for Cypriot ships sailing in the area, ‘which we are constantly monitoring.’ She expressed hope for a de-escalation of the situation, concluding, ‘We hope that a de-escalation of the entire situation will be achieved.’