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illuminem summarises for you the essential news of the day. Read the full piece on the BBC or enjoy below:
🗞️ Driving the news: U.S. Secretary of State Marco Rubio on June 22 urged China to pressure Iran to refrain from closing the Strait of Hormuz
• Tehran’s parliament reportedly approved a non-binding plan to block the strategic waterway, a move Rubio warned would be “economic suicide” for Iran and have severe global economic consequences
🔭 The context: The announcement followed U.S. airstrikes targeting Iranian nuclear facilities — Fordow, Natanz, and Isfahan — in what marked the most significant Western direct action against Iran since 1979
• In addition to threats, Iran’s parliament approved a measure, though the final decision lies with its Supreme National Security Council
🌍 Why it matters for the planet: Approximately 20% of global oil and gas flows transit the Strait
• A disruption could trigger sharp spikes in energy prices, exacerbate inflation, and disrupt supply chains — posing risks to both industrial and consumer markets
• Many Asian economies, including China, are especially vulnerable
⏭️ What's next: China faces intensified diplomatic pressure to leverage its ties with Tehran and prevent economic shockwaves.
• Iran’s Supreme National Security Council will determine whether to approve the closure
• Markets and governments around the world, particularly in Europe and Asia, will closely watch developments
• Any escalation could prompt further sanctions or military responses within weeks
💬 One quote: “I encourage the Chinese government in Beijing to call them… it will be economic suicide for them.” — Marco Rubio
📈 One stat: Roughly 20 percent of global oil and gas shipments pass through the Strait of Hormuz daily
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