BAKU, Azerbaijan, June 24. The closure of the Strait of Hormuz can cause huge losses for the global economy, the Secretary General of the Iranian Shipping Association Masoud Palme told journalists, Trend reports.
According to him, currently, more than 60 percent of the world's energy is produced from the Persian Gulf and transported to different regions of the world.
The closure of the Strait of Hormuz will hit the world economy and, according to international calculations, the price of one barrel of oil will exceed $120.
Palme said that this increase will also raise the cost of shipping by sea and can create a shock situation on world stock exchanges, and thus, the closure of the Strait of Hormuz can cause a very strong earthquake in the world economy.
On the morning of June 13, Israel carried out airstrikes against Iran. The attacks killed numerous high-ranking military officials, including Mohammad Bagheri, Chief of the Iranian Armed Forces General Staff; Hossein Salami, Commander of the Islamic Revolutionary Guard Corps (IRGC); and Gholam Ali Rashid, head of the Khatam al-Anbiya Headquarters, along with nine nuclear scientists and other senior figures.
That same evening, Iran launched a retaliatory strike dubbed “Operation True Promise III,” firing hundreds of ballistic missiles and drones at multiple targets across Israel, including Tel Aviv. The attacks caused civilian casualties and widespread damage.
To note, the US conducted airstrikes targeting three nuclear facilities in Iran on June 22, reportedly causing significant damage.
"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 Iranian airspace. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home," President of the US Donald Trump wrote on the Truth Social social network.
On June 23, the Islamic Revolutionary Guard Corps (IRGC) carried out a missile strike on the U.S. Al-Udeid base in Qatar.
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