Tehran, Iran - The Iranian parliament has voted to close the Strait of Hormuz. The law will come into effect after the final decision by Iran's Supreme Council. According to the Iranian state-owned Press TV, the Supreme Council's decision is expected this evening.
The Strait of Hormuz, a vital chokepoint connecting the Persian Gulf and the Gulf of Oman, handles roughly 20% of the world's daily oil flow. Closure could disrupt billions of dollars in oil shipments daily and significantly impact global oil prices.
International law designates the strait as an international waterway, but Iran has not ratified the relevant UN convention. The international community is closely watching the situation, urging diplomatic solutions to prevent escalation and ensure free passage through the strait.