Iran took a bold move and announced to open Strait of Hormuz but only for the countries that fulfills its conditions.
According to CNN, Iran’s Islamic Revolutionary Guard Corps (IRGC) has said any Arab or European country that expels Israeli and American ambassadors from its territory will be granted unrestricted passage through the Strait of Hormuz starting Tuesday, March 9.
As per Iran’s state broadcaster IRIB, the IRGC said those countries would have the “full right and freedom” to transit the strategic waterway if they sever diplomatic ties with both Israel and the United States.
Nearly one-fifth of the world’s oil supply passes through this narrow, 21-mile-wide waterway, which is now a critical, high-risk bottleneck for global markets.
The US-Israeli war with Iran has sent oil prices higher for two primary reasons: a near shutdown of the Strait of Hormuz and a slowdown in oil production in the Middle East.
