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Iran Passes Bill to Close Strait of Hormuz Amid Escalating Conflict with US and Israel

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by Giorgi Kostiuk

4 hours ago


Recently, significant tensions have escalated in the Middle East. Iran has passed a bill that could lead to the closure of the strategically important Strait of Hormuz, raising concerns in the international community.

Iran's Initiative to Close the Strait of Hormuz

The Iranian parliament has approved a bill aimed at the potential closure of the Strait of Hormuz, a crucial waterway for international oil trade. The decision still requires approval from Iran's Supreme National Security Council. A member of the National Security Committee of the Iranian Parliament stated that the Revolutionary Guards are ready to close the strait if necessary.

US and Israel's Response to the Situation

Simultaneously, notable statements have been made by the US and Israel regarding the Iranian situation. Israeli President Isaac Herzog mentioned in an interview with CNN that Iran's nuclear program has not been completely eliminated but has suffered significant damage. He also added that Israel does not wish to draw the US into war. Furthermore, the Pentagon has accelerated the process of sending a second aircraft carrier group to the region, with the USS Nimitz expected to arrive next week. Reportedly, Washington plans to keep two aircraft carrier groups in the region for at least a month.

Impact on the Cryptocurrency Market

Rising geopolitical risks have negatively impacted cryptocurrency markets as well. In the last hour, Bitcoin fell by 1.87% to $100,718, while Ethereum lost 3.1%, dropping to $2,197.

The situation in the Middle East remains tense, and the international community is closely monitoring developments. The political changes have caused fluctuations in financial markets, including cryptocurrencies.

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