Oil prices will destroy Europe if Iran does not open Strait of Hormuz: Serbian President

The Strait of Hormuz is the world's most important oil shipping lane, linking major Gulf producers to the Gulf of Oman and the Arabian Sea.

• Serbia warns of disaster for Europe if Strait of Hormuz remains closed
• Rising oil prices may spark global economic and energy crises.
• China urged to reopen strait to prevent escalation

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Serbian President Aleksandar Vucic said amid the escalating tension in the Middle East arising from the Israel-Iran war, oil prices will shoot up drastically and 'Europe will fall into hell' if Tehran does not open the Strait of Hormuz.

In the face of repeated attacks from the US and Israel, Iran has shut the Strait of Hormuz and said the Revolutionary Guards forces and the regular navy would set ships ablaze if they attempt to transit the waterway.

Evaluating Iran's decision to close the Strait of Hormuz, Vucic argued that this situation would lead to a massive increase in oil prices and that these costs would "kill" all countries economically.

Stating that the closure of the Strait of Hormuz would be a disaster for the European economy, Vucic said, "Oil prices will kill us all. Europe will fall into hell due to the closure of the Strait of Hormuz."

🚨Serbian President:

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What's of vital importance for people is the closure of the #StraitHormuz. That's why it's important that #China, as a true friend of #Iran, insist that Iran open the Strait of Hormuz, because without it, oil prices will destroy Europe. pic.twitter.com/jN33NKw3vv — IRIB (Islamic Republic of Iran Broadcasting) (@iribnews_irib) March 3, 2026

He pointed out that a blockage in the strait, which is the most critical transit point for oil shipments in the world, would not only trigger an energy crisis but also push global inflation to uncontrollable level. "That's why it's important that China, as a true friend of Iran, insist that it open the Strait of Hormuz, because without it, oil prices will destroy Europe."

Speaking on Iranian state television, Brigadier General Ibrahim Jabbari, advisor to the Commander of the Islamic Revolutionary Guard Corps, said, "The Strait of Hormuz is closed. We will attack and set fire to every ship attempting to pass. (Ships attempting to pass) will be burned by our heroes in the Revolutionary Guard Navy and Ground Forces."

"Do not come to this region. The price of oil has reached 82 dollars, and the world is definitely expecting it to reach at least 200 dollars. We will also attack oil pipelines and will not allow a single drop of oil to leave the region," the Brigadier said.

Why is the Strait of Hormuz important?

The Strait of Hormuz is the world's most important oil shipping lane, linking major Gulf producers - including Saudi Arabia, Iran, Iraq and the United Arab Emirates - to the Gulf of Oman and the Arabian Sea.

Roughly 20% of global daily oil consumption moves through the narrow passage, which is about 33 km (21 miles) wide at its tightest point. Any prolonged disruption could sharply lift crude prices.

Considered the most critical and sensitive "jugular vein" of global energy security; approximately one-third of the oil transported by sea in the world and a significant portion of liquefied natural gas (LNG) passes through this narrow waterway.

Why is China being asked to speak to Iran?

China and Iran have developed a close and comprehensive strategic partnership over the past decade. , especially highlighted by a 25-year cooperation agreement signed in 2021.

Under this pact, Beijing committed to large-scale investment in Iran’s economy — particularly in energy and infrastructure — in return for stable access to Iranian oil and resources. China is Iran’s largest trade partner and a major purchaser of its crude, helping Tehran partly mitigate the impact of Western sanctions.

According to a report in the Guardian, the Chinese government has called for vessels passing through the Strait of Hormuz to be protected by all sides in the escalating Iran conflict.

On Tuesday (March 3), Beijing’s foreign ministry urged “all parties to immediately cease military operations, avoid escalating tensions and safeguard the safety of navigation in the Strait of Hormuz”.