Which countries were taking advantage of the closure of the Strait of Hormuz, which countries converted the disaster into an opportunity?

Iran closed the Strait of Hormuz in February 2026. In normal times, about 20% of the world’s oil and gas passes through this waterway, which includes 20 million barrels of oil daily. While this closure put many countries in crisis, for some countries it proved to be an opportunity in disaster. Let us know which countries benefited from this…

Russia is the biggest beneficiary country

Russia’s oil and gas tax revenue increased by 32.4% in May compared to last year. It increased to 678.9 billion rubles ($9.3 billion). This increase was due to the rally in oil prices triggered by the war. The closure of Hormuz became a boon for Russian oil, forcing the US and Western countries to loosen restrictions on Russia’s oil already present in the sea, due to which Russia earned good profits. America had also given relaxation to many countries including India in the restrictions imposed on the purchase of Russian oil.

America got a big opportunity

According to Russian oil company Rosneft, after the closure of the Strait of Hormuz, there was a shortage of oil in the global market, from which American energy companies benefited the most. America’s Energy Informational Administration (EIA) increased the price of Brent crude for 2026 from $ 58 to $ 79 per barrel. With US crude oil production projected to reach 13.6 million barrels per day in 2026.

Saudi Arabia also got profit

Other Gulf countries suffered losses due to the closure of Hormuz, but Saudi Arabia, using its East-West Pipeline, easily diverted crude oil exports through the Red Sea instead of Hormuz. He increased exports through Yanbu Port. Due to this, Saudi Arabia’s oil export and revenue reached record levels in the last several years. Government company Saudi Aramco recorded a net profit of $33.6 billion in the first quarter, which is 26% more than last year.

Iraq’s pipeline active again

The nearly 600-mile long pipeline from Iraq to Türkiye was reopened due to the Hormuz crisis. Its total capacity is about 16 lakh barrels per day. Which was initially opened with a capacity of 2.5 lakh barrels per day. Apart from this, Iraq is also considering new pipelines towards Oman, Jordan and Egypt.

Oman and Norway benefit

Oman is outside the Strait of Hormuz. Therefore Oman’s exports were not much affected. On the contrary, Oman benefited in earnings from the increase in global energy prices. Norway is one of Europe’s largest oil and gas exporters. There was a big increase in Norway’s earnings due to the Hormuz crisis. Norway was also among the countries that benefited the most from high prices.

Also read: On one hand, preparations for a deal, on the other hand, Iran closed the way to uranium reserves.