Iran threatens oil blockade until attacks end, Trump responds with escalation
Iran said it would not allow any oil exports through Strait of Hormuz, as long as the US and Israeli attacks. This is reported by the Reuters.
Iranian the forces of the Islamic Revolutionary Guard Corps (“IRGC”) have vowed to continue the blockade if the strikes by Washington and Tel Aviv do not stop, posing serious risks to global energy supplies.
Trump promises «even stronger» response
In response, the president USA Donald Trump warned that the US could significantly to intensify its strikes against Iran, if it tries to block tankers. Trump noted that any obstacles to the transport of oil through the Strait of Hormuz would lead to a strong response from the US.
Why it matters
The Strait of Hormuz is a critical route for global energy supplies, with around 20 % of global oil and gas. A blockade or significant restriction of shipping there may result in A sharp jump in oil and gas prices around the world, which is already happening because of the current conflict.
The economic impacts include market volatility, fuel supply problems and upward pressure on petrol and energy prices for consumers.
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