Eni CEO Claudio Descalzi has warned that the fresh Iranian blockade of the Strait of Hormuz is fundamentally altering the global energy landscape.
Speaking to the Italian parliament on Thursday, Descalzi emphasized that the renewed closure of the critical chokepoint represents a significant shift in the geopolitical and operational environment for energy markets.
The Strait of Hormuz remains one of the world’s most vital energy corridors, facilitating a substantial portion of global oil shipments.
Any disruption to transit through the strait immediately threatens supply chains and has the potential to drive energy prices higher.
The blockade, announced by Iran’s Revolutionary Guard citing alleged ceasefire violations by the United States, has already sent energy markets into a risk-off posture.
Descalzi’s comments come as broader industry concerns mount.