US Works to Avoid Strait of Hormuz Closure as Global Economies Brace for Impact – The American Spectator | USA News and PoliticsThe American Spectator

On Sunday, the Iranian parliament approved a measure to close the Strait of Hormuz in retaliation for U.S. airstrikes on its nuclear sites in Fordo, Natanz, and Esfahan. 

While the final decision rests with Iranian security officials, rather than the parliament, this move represents a clear escalation that could disastrously affect global economies through oil and gas prices. 

Hormuz is a main transit line critical to roughly one-fifth of the world’s oil trade. Reports indicate that a closure in the strait could result in crude oil prices spiking to $100 a barrel. The move could also block the United States from roughly $1 billion in oil imports.

Secretary of State Marco Rubio told CBS on Sunday that such a blockage would represent “a suicidal move,” as the U.S. seeks to avoid the closure. Rubio has reportedly contacted officials in China to seek a solution that would keep the strait open. 

In a Sunday interview with Fox News, Rubio stated, “I encourage the Chinese government in Beijing to call them [Iran] about that, because they heavily depend on the Straits of Hormuz for their oil.”

The secretary also stated in a warning that, “other countries should be looking at that as well. It would hurt other countries’ economies a lot worse than ours.”

China not only maintains a close relationship with Tehran but is also the world’s largest importer of Iranian oil. 

During a meeting with the Organization of Islamic Cooperation on Sunday, Iran’s foreign minister, Abbas Araghchi, was asked whether Tehran would approve the proposed closure. Araghchi replied, “A variety of options are available to Iran.”

The BBC reported that following the U.S. attack on Iran, oil prices are already reaching their highest prices in five months. 

The potential closure has already affected shipping lanes in the region, with reports stating that two supertankers turned around at the Strait of Hormuz. Other vessels have adjusted their travel patterns to avoid the critical shipping lane as unrest grows.

Additionally, companies from Japan, the U.S. Fifth Fleet, and maritime authorities are advising vessels to minimize time in the strait.

Speaking on Iran’s actual ability to prevent shipping in the Strait, Gregg Roman, executive director of the Middle East Forum, told the New York Post, “Their primary approach would involve rapidly deploying naval mines across the shipping lanes — this is their most effective tool for immediate disruption.”

Roman also mentioned the possibility that Iran launches anti-ship missiles to target oil tankers that might attempt passage through the strait.

READ MORE from Andrew Gondy:

Violence Erupts Inside Michigan Church, Suspect Killed by Armed Guard

HHS Scores Victory as Food Giants Begin Phasing Out Synthetic Dyes