According to a report by the Times of Israel on Monday 2 March, 2026, in a dramatic escalation late Monday, Iran’s Revolutionary Guards announced they are closing the Strait of Hormuz and warned they would attack any vessel attempting to pass through the narrow waterway, according to Iranian media reports.
The declaration follows the killing of Iran’s Supreme Leader, Ayatollah Ali Khamenei, in an Israeli strike – an event that has already sent shockwaves through the region. Now, the threat to shut one of the world’s most critical maritime corridors risks rattling global markets as well.
“The Strait of Hormuz is closed and Iran is to set fire to any ship trying to pass,” the Guards commander said, in remarks carried by state-affiliated outlets.
It’s hard to overstate what that could mean. Roughly a fifth of the world’s oil supply moves through the strait, the narrow channel connecting the Persian Gulf to open waters. Any sustained disruption there would almost certainly drive crude prices sharply higher, and quickly. Energy traders, insurers, and governments would be forced to respond in real time.
And yet, questions remain about how such a closure would be enforced, and for how long. The waterway has long been a flashpoint, patrolled by international naval forces and watched closely by energy markets. However, the rhetoric alone – especially under the current circumstances – is enough to heighten fears of a broader regional confrontation.See_More…