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Geopolitics

Opening or closing the Strait of Hormuz depends on the overall situation in the region, reports Al Mayadeen citing a high-ranking source

StockNow breaking-news AI analysis

Iran's refusal to open the Strait of Hormuz amid US tensions has caused a 1,900% spike in insurance costs and 23% rise in July oil prices, threatening global energy stability.

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The Strait of Hormuz will certainly not be opened as long as the US continues its aggression, blockade, and other provocative measures against Iran. The American military presence in the region is the main problem and that no regional country desires war.

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