The world community have expressed concerns over the Iranian Parliament's approval to close the Strait of Hormuz after US force carried out strike on three Iranian nuclear sites of Natanz, Isfahan and Fordow. However the Iran's Supreme National Security Council is the authority to take final decision in this regard.
As an international diplomacy US Secretary of State Marco Rubio urged China to insist Iran not to shut down the Strait of Hormuz while speaking at Fox News. If Iran's plan to close the Hormuz is implemented, it would be an 'Economic Suicide' Mr. Rubio said.
Location of the Strait of Hormuz and its importance.
The Strait of Hormuz is a narrow water body situated between Iran and it's Arabian Gulf nations (Saudi Arabia, UAE, Kuwait and Iraq) facilitating daily transportation of global oil supply.It is the vital export and import route for global oil passage.
According to Bloomberg the Strait of Hormuz enables the daily transportation of big bulk of, roughly 1/5 of global oil supply.Iran has never closed the Strait of Hormuz amid any war or conflict in their history. There is no sea passage alternative to the Strait of Hormuz. That's why
the US advice to China, to call and talk with Iran over the possible Strait of Hormuz closure makes a significant one in diplomatic level. Because in Asian side China and India heavily depend on the Strait of Hormuz for oil importing global oil.
According to US Energy Information Administration around 84% of the Crudeoil, 83% liquified Natural Gas moved through the Strait of Hormuz to the Asian Market in the Year 2024.
So any such attempts on the part of the Iran would disrupt oil supply.It will affect major oil producers including Saudi Arabia, UAE, Iraq and Kuwait.In wider angle the oil supply is need of the world.If Iran close the Strait of Hormuz, it would hurt other nations and their economies. Hence other countries also should take possible diplomatic steps in International level to advice Iran to block potential closure of the Strait of Hormuz.
Impact
It will affect de-escalation
According to EuroNews Iran is considering closing the Strait of Hormuz as as retaliative action after the US strike on their nuclear sites. If Iran continue with the plan, there is a possibility of escalation from the US and others.