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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 19, 2025

    Featured image for article about Headlines

    DUBAI (Reuters) -Iran could shut the Strait of Hormuz as a way of hitting back against its enemies, a senior lawmaker said on Thursday, though a second member of parliament said this would only happen if Tehran's vital interests were endangered.

    Iran has in the past threatened to close the Strait of Hormuz to traffic in retaliation for Western pressure, and shipping sources said on Wednesday that commercial ships were avoiding Iran's waters around the strait.

    "Iran has numerous options to respond to its enemies and uses such options based on what the situation is," the semi-official Mehr news agency quoted Behnam Saeedi, a member of the parliament's National Security Committee presidium as saying.

    "Closing the Strait of Hormuz is one of the potential options for Iran," he said.

    Mehr later quoted another lawmaker, Ali Yazdikhah, as saying Iran would continue to allow free shipping in the Strait and in the Gulf so long as its vital national interests were not at risk.

    "If the United States officially and operationally enters the war in support of the Zionists (Israel), it is the legitimate right of Iran in view of pressuring the U.S. and Western countries to disrupt their oil trade's ease of transit," Yazdikhah said.

    President Donald Trump is keeping the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites.

    Tehran has so far refrained from closing the Strait because all regional states and many other countries benefit from it, Yazdikhah added.

    "It is better than no country supports Israel to confront Iran. Iran's enemies know well that we have tens of ways to make the Strait of Hormuz unsafe and this option is feasible for us," the parliamentarian said.

    The Strait of Hormuz lies between Oman and Iran and is the primary export route for Gulf producers such as Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait.

    About 20% of the world’s daily oil consumption — around 18 million barrels — passes through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point.

    (Reporting by Dubai Newsroom;Editing by Alison Williams and Gareth Jones)

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