00:01Iran's Revolutionary Guard, which appears to control decisions over the Strait of Hormuz,
00:07says the commercial passage remains closed just days before the temporary ceasefire between
00:12Iran and the U.S. ends.
00:15Contradicting a statement from the Iranian Foreign Minister on Friday that the strait
00:19was open in a corridor coordinated by Iran, the IRGC said on Saturday that it had, quote,
00:25reverted to its previous state of strict military control while the U.S. blockade of Iranian
00:31ports continues.
00:33At the scene, Euronews correspondent Toby Gregory explains the global impact of shutting down
00:39such an important strategic bottleneck.
00:42This passage is just 30km wide at its narrowest, yet around 20% of the world's oil and gas flows
00:49through it.
00:50There is no margin for error here.
00:53Negotiations have stalled, and as diplomacy slows, pressure on the water is increasing.
00:59Because what happens here will not stay here.
01:02The consequences will move through energy markets, through supply chains, and into the economies
01:06of energy.
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