US Secretary of State Marco Rubio has urged China to prevent Iran from closing the Strait of Hormuz, one of the world’s most crucial trade routes.
His comments came after Iran’s state-run Press TV claimed that parliament had authorised a proposal to close the Strait, but that the Supreme National Security Council would make the ultimate decision.
Any disruption in the supply of oil would have serious ramifications for the economy. China, in particular, is the world’s largest purchaser of Iranian oil and maintains a tight relationship with Tehran.
Following the United States’ strike on Iranian nuclear sites, oil prices soared, with the benchmark Brent crude reaching its highest level in five months.
“I encourage the Chinese government in Beijing to call them [Iran] about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio had said in an interview with Fox News on Sunday.
“If they [close the Straits]… it will be economic suicide for them. And we retain options to deal with that, but other countries should be looking at that as well. It would hurt other countries’ economies a lot worse than ours.”
About 20% of the world’s oil goes through the Strait of Hormuz, which is used by major Middle Eastern oil and gas producers to move energy from the region.
Any attempt to impede operations across the Strait might cause global oil prices to rise.
Oil prices rose briefly as trade opened on Monday, with Brent reaching $81.40 per barrel. However, it then dropped back to approximately $78, up 1.4% for the day.
“The US is now positioned with an overwhelming defence posture in the region to be prepared for any Iran counter-attacks. But the risk for oil prices is the situation could escalate severely further,” said Saul Kavonic, head of energy research at MST Financial.
The price of crude oil influences everything, from how much it costs to fill up your car to the price of groceries at the grocery.
China, in particular, buys more oil from Iran than any other country, with imports exceeding 1.8 million barrels per day last month, according to ship tracking service Vortexa.
Other major Asian economies, such as India, Japan, and South Korea, rely substantially on crude oil transported via the Strait.
Energy researcher Vandana Hari has stated that Iran has “little to gain and too much to lose” by closing the Strait.
“Iran risks turning its oil and gas-producing neighbours in the Gulf into enemies and invoking the ire of its key market, China, by disrupting traffic in the Strait,” Ms Hari told BBC News.
The United States joined the war between Iran and Israel over the weekend, with President Donald Trump claiming that Washington had “obliterated” Tehran’s critical nuclear installations.
However, it is unclear how much damage the strikes caused, with the UN’s nuclear watchdog stating that it was hard to assess the damage at the heavily defended Fordo underground nuclear facility. Iran has stated that Fordo sustained just minor damage.
Trump also warned Iran that it would face “far worse” future attacks if the country did not abandon its nuclear programme.
On Monday, Beijing claimed the US strikes had harmed Washington’s credibility and demanded an immediate ceasefire.
According to a state-run CCTV broadcast, China’s UN Ambassador Fu Cong urged all sides to avoid “the impulse of force… and adding fuel to the fire”.
In an editorial, Beijing’s state publication Global Times also stated that US intervention in Iran “had further complicated and destabilised the Middle East situation” and was bringing the conflict to an “uncontrollable state”.
![Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-450x300.jpg "Odiong: US-based Nigerian Catholic priest convicted over sexual assault")
