Among them the Iranian parliament has approved the closure of the Strait of Hormuz, an important shipping route for goods located near Iran maritime borders. Almost bout 20% of the world oil and gas is supplied to various countries of the world through this shipping route. If Iran closes this road, it will have a far-reaching negative impact on the global economy. What is your opinion?
I will expect the oil price to increase but I do not know how it can affect the global economic. It is good to know that Iranian parliament has approved to closure of Strait of Hormuz but the Iranian top leaders still need to make decision to either close it or not, but they have been given approval that if they want to close it they can.
I do not know what United States is telling China, they they should tell Iran not to close the Strait after violating the international law by evading a country to bomb their nuclear sites.