New Delhi: Iran’s parliament has approved a proposal to close the Strait of Hormuz, a critical global oil corridor, in a major escalation of tensions in the region and raising fears of severe disruption to global energy supplies. The final decision now rests with Iran’s Supreme National Security Council, according to state media reports.

The move came in the aftermath of US airstrikes on Iranian nuclear sites at Fordow, Natanz, and Isfahan. Revolutionary Guards commander and senior lawmaker Esmail Kosari said the closure is “on the agenda” and “will be done whenever necessary”.

The decision if approved will be catastrophic for oil-depended economies. A closure would send shockwaves through global markets,........

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