US State Secretary Marco Rubio has called China to prevent Iran from closing Hormuz, one of the world’s most important shipping routes.
Press TV, run by the state of Iran, said that Parliament had approved a plan to shut down the Strait, but he said that the final decision was with the Supreme National Security Council.
Any disruption of oil supply will result in deep consequences for the economy. China is particularly the world’s largest buyer of Iranian oil and has a close relationship with Tehran.
Oil prices increased after the US attack on Iranian nuclear sites, the benchmark brant crude price reached its highest level in five months.
Marco Rubio said in an interview with Fox News on Sunday, “I encourage the Chinese government to say (Iran) about this in Beijing, as they are dependent on the hormuage of the hormuz for their oil.”
“If they [close the Straits]… This will be a financial suicide for them. And we maintain an option to deal with it, but other countries should also see it. This will make the economies of other countries worse than us. ,
About 20% of the world’s oil passes through the strand of hormuz, using waterways for energy transport from the region with major oil and gas producers in the Middle East.
Any attempt to disrupt operation in Strait can touch global oil prices.
They jumped at their highest since January, the price of Brent Crude 23:22 GMT reached $ 78.89 per barrel on Sunday.
Saul Kavonic, head of Energy Research at MST Financial, said, “America is now deployed with a heavy defense currency in the area to be prepared for any Iran counter attacks. But the risk to oil prices is that the situation can seriously move.”
The cost of crude oil everything affects how much it costs to fill your car until the price of food in the supermarket.
According to data from Ship Tracking firm Vortex, China especially buys more oil from Iran than any other nation – with its oil imports to cross 1.8 million barrels per day from Iran to the 1.8 million barrels per day.
Other major Asian economies including India, Japan and South Korea also rely very much on crude oil which pass through the strands.
Energy analyst Vandana Hari has said that Iran has to “lose too much and lose too much from closing the straight”.
Hari told BBC News, “Iran turned its oil and gas -producing neighbors into enemies in the Gulf and invited its major market IRE IRE by disrupting traffic in the Strait.”
The US joined the conflict between Iran and Israel over the weekend, President Donald Trump said Washington had “slanting” Tehran’s major nuclear sites.
However, it is not clear how much damage to the strike has caused the United Nations’s nuclear watchdog, stating that this heavy foretified Fordo was unable to assess damage on the underground atomic site. Iran has said that Fordo had only a minor loss.
Trump also warned Iran that if he did not leave his nuclear program, he would face “very worse” future attacks.
On Monday, Beijing said the US strike damaged Washington’s credibility and called for a immediate ceasefire.
According to the state -run CCTV report, Chinese UN Ambassador Fu Kang said that all parties should be banned “impulse of force … and fueling fuel”.
In an editorial, Beijing’s state newspaper Global Times also stated that American participation in Iran had “made the Middle East situation more complicated and unstable” and it was bringing the conflict to “uncontrollable state”.
