Iran’s Revolutionary Guard has been sending radio transmissions to ships, warning them that "no ship is allowed to pass the Strait of Hormuz." That’s according to the European Union’s naval mission, whose operations aim to protect international shipping from attacks.
The Strait of Hormuz, between the Persian Gulf and the Gulf of Oman, is a vital export route for the Gulf’s biggest oil producers, including Saudi Arabia and the UAE. Around 20% of the world’s crude oil flows through it. Experts have warned that even a limited disruption could cause energy prices to spike… and fuel inflation.
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