A Japanese analyst warns that the continued closure of the Strait of Hormuz would trigger a severe economic crisis for major industrialized nations, underscoring Iran's growing strategic leverage.

Conventional oil fields can sustain production for long periods with relatively low reinvestment.

The US naval blockade against Iran, now in its third week, is considered a war crime and has led to global economic crises.

Trump retreats on threats regarding the Strait of Hormuz.

The IRGC says the United States now faces a sharply narrowed choice between an “impossible military operation” against Iran and a “bad deal” with the country.

Iranian Parliament Speaker Mohammad Baqer Qalibaf has ridiculed the US naval blockade against Iran, pointing out that the country’s vast borders make any attempt at sealing it off impossible.

The continued American maritime piracy and banditry will soon be met with “practical and unprecedented action,” a high-ranking security source told Press TV.