Iran Warns Of Retaliation Against US Strikes; Is Strait Of Hormuz At Risk? What It Means For World?

Amid the raging Israel-Iran war, the United States' strikes on Iranian nuclear sites has further escalated the situation. Hossein Shariatmadari, the Iranian Supreme Leader Ali Khamenei's confidante, has warned of retaliation to US strikes and has also called for the closure of Strait of Hormuz, a crucial artery for the global energy market.

US Strikes on Iran

In a major escalation of the Middle East War, US carried out overnight strikes on three nuclear sites in Iran on Saturday. Confirming about US strikes on Iran, Donald Trump wrote in a social media post, "We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home."

In another post, Trump also warned Iran of a far greater attack if the country chooses to retaliate to the nuclear strikes.

"ANY RETALIATION BY IRAN AGAINST THE UNITED STATES OF AMERICA WILL BE MET WITH FORCE FAR GREATER THAN WHAT WAS WITNESSED TONIGHT," Trump added in another post.

Iran Warns of Retaliation 'Without Delay'

Condemning the US missile attacks, Hossein Shariatmadari, Khamenei's representative told Kayhan newspaper that it is Iran's turn to act "without delay". He also warned of closing the Strait of Hormuz to American, British, German and French ships.

"It is now our turn to act without delay. As a first step, we must launch a missile strike on the US naval fleet in Bahrain. Simultaneously close the Strait of Hormuz to American, British, German, and French ships," he added.

What is Strait of Hormuz?

Strait of Hormuz is a narrow waterway that links the Persian Gulf to the Arabian Sea. The 35-60 mile wide strait separates Iran from the Arabian Peninsula. It is one of the tightest point and supplies nearly a third of the world's seaborne oil and fifth of global LNG,

World's Most Important Oil Checkpoint

According to the US Energy Information Administration (USEIA) it is one of the world's 'most important oil checkpoint'. The route is also crucial for the export of oil from Gulf producers like 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, reported Reuters.

What If Iran Closes Strait of Hormuz?

This is not the first time when Iran has threatened to close the Strait of Hormuz in retaliation for Western pressure. Closure of Strait of Hormuz would significantly impact the global oil trade and may also lead to a sharp increase the global oil prices.

Will Strait of Hormuz Closure Impact India?

India will also suffer significantly with the closure of the Strait of Hormuz. A potential closure of the strategically important channel would mean costlier crude oil, higher inflation and negative impact on India's GDP, hinted analysts.

"If Iran closes the Strait of Hormuz, India will definitely suffer. About 20 per cent of the world's crude oil and 25 per cent of the world's natural gas flows through these... India will suffer because oil prices will go up, inflation will rise, and there is an estimate that for every ten-dollar increase in the price of crude oil, india's GDP will suffer by 0.5 per cent, " Foreign Affairs Expert Robinder Sachdev told news agency ANI.