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Iran warned retaliation to US strikes would be 'economic suicide' Iran have been warned over any move to close the Strait of Hormuz Iranian protesters and a child step on a poster with a vampire-like illustration of US President Donald Trump in Revolution Square "If they do that, it will be another terrible mistake. It's economic suicide for them if they do it. 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," he added. In a tit-for-tat move against US strikes, Iranian lawmakers have voted to block crucial shipping routes through this key waterway after Donald Trump decided to wade into the conflict between Israel and Iran, according to the Express. However, the Iranian parliament's vote isn't the final word, and state television has underscored that the ultimate decision rests with Iran's top security officials, as reported by Reuters. The narrow waterway, located within Iran's territorial waters, is a crucial oil transit point, with around 20% of the world's oil supplies and a third of its liquefied natural gas passing through it. Shiiping appears to be building up either side of the Starit of Hormuz "bottleneck" Any attempt to disrupt shipping by laying mines or firing missiles could spark a global oil crisis, send inflation
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