The United States bombarded the nuclear plants of Iran on Sunday, 22nd June. After this move, Iran’s parliament has passed a motion to close the Strait of Hormuz. This sea route is crucial for the oil and gas industry. The decision is yet to be approved by Iran’s Supreme National Council. This proposal has already sent shock waves through global markets.
Abba Araghchi, the Foreign Minister of Iran, stated that Tehran is evaluating options to respond to the US’s attacks on the nuclear plants, which include closing the Strait of Hormuz. This narrow strait is responsible for 20% of the oil and gas transport through water daily, globally.
This move would not only affect the Western countries but also leave major impacts on the Asian countries, including India, China, Japan, and South Korea. J.D. Vance expressed in an interview that the potential closure of the Strait of Hormuz will vehemently affect Iran’s economy as well.
