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. 

Invited to comment on the Iranian Parliament's decision, which must be finalised by the country's Supreme National Security Council, she said that developments are rapid and undoubtely cause great 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 added that the first effects will be the increase in fuel prices, in the cost of ship insurance, while supply chains and transport in general will be affected.

The Republic of Cyprus, she stressed speaking to CNA, is closely monitoring and continuously evaluating all developments. 

She said 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.”

The Deputy Minster expressed hope that there will be a de-escalation of the situation.

“We hope that a de-escalation of the entire situation will be achieved,” she concluded.

CNA/SK/AAR/EPH/2025

ENDS, CYPRUS NEWS AGENCY