The United States has called on China to help prevent Iran from closing the Strait of Hormuz, one of the world’s most important shipping routes for oil.
US Secretary of State Marco Rubio said that closing the Strait would damage the global economy and warned that such a move would be “economic suicide” for Iran. He also said that China, as Iran’s largest oil customer, should speak to Tehran to avoid this crisis.
His comments came after Iran’s state-run Press TV reported that Iranian lawmakers had approved a plan to close the Strait. However, the final decision will be made by Iran’s Supreme National Security Council.
About 20% of the world’s oil passes through the Strait of Hormuz. Blocking it could send global oil prices soaring, hurting economies around the world, including China, India, Japan, and South Korea.
Oil prices briefly rose on Monday following these developments, with Brent crude hitting $81.40 a barrel before falling back to around $76.30.
President Trump posted on social media, urging countries to keep oil prices down, warning that rising prices would benefit “the enemy.”
China, meanwhile, criticized the US strikes on Iran’s nuclear sites and called for an immediate ceasefire. Chinese officials said that the US actions were making the Middle East situation more dangerous.
Experts have warned that closing the Strait could backfire on Iran by turning its neighbors and trade partners against it, especially China, which buys over 1.8 million barrels of Iranian oil per day.
For now, the world watches closely as tensions remain high in the Middle East.
