Iran has threatened to close the Strait of Hormuz, a critical passage for global oil and gas. Military experts warn that such an action could lead to an unprecedented economic shock, outstripping the impacts of previous global crises like the Russian invasion of Ukraine. The Iranian military's increasing threats come in response to strikes on its nuclear sites by the US. Analysts highlight escalating tensions and military exchanges, stating that direct attacks or military blockades could escalate conflicts significantly, involving regional and Western powers in naval confrontations.
If Iran does shut the Straits of Hormuz, between 20 and 30% of all the world's oil and gas goes through that strait. The economic shock that would cause across the world would make what happened when Russia invaded Ukraine just over three years ago seem like small change.
The Strait of Hormuz will be closed within a few hours.
Escalating military exchanges has spurred growing unease among shipping and energy markets over the possibility of the Strait of Hormuz being closed.
A deliberate closing of the Strait would constitute a significant escalation-likely invoking regional and Western powers into a direct naval confrontation.
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