Iran’s parliament has approved a measure to close the Strait of Hormuz, a vital global trade route through which more than a fifth of the world’s oil supply passes daily. The move follows President Donald Trump’s decision to bomb three Iranian nuclear sites, deepening fears of a widening conflict in the Middle East.
Joining Israel in the biggest western military action against the Islamic Republic since its 1979 revolution, the world is now bracing for Iran’s response. Analysts say one way Iran could retaliate is to close off the strait, which would restrict trade and affect global oil prices.
Iran has in the past threatened to close the strait but has never followed through. The strait sees about 20 million barrels of oil and much of the world’s liquefied gas pass through each day. A closure could trigger a global recession by disrupting energy supplies and sending prices soaring.
