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Iran's Revolutionary Guard Navy Threatens to Close Hormuz Strait - Reports

© AP Photo / Fars News Agency, Mahdi MarizadIn this Tuesday, April 7, 2015, file photo released by the semi-official Fars News Agency, Iranian warship Alborz, foreground, prepares before leaving Iran's waters, at the Strait of Hormuz
In this Tuesday, April 7, 2015, file photo released by the semi-official Fars News Agency, Iranian warship Alborz, foreground, prepares before leaving Iran's waters, at the Strait of Hormuz - Sputnik International
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The Strait of Hormuz is a key strategic waterway situated between the Persian Gulf and the Gulf of Oman, with about 20 percent of the world's oil and about a third of all petroleum shipped by sea passing through it.

Rear Admiral Alireza Tangsiri stated on Monday that if Iran is not allowed to export oil through the Hormuz Strait, it would react immediately.

"The Hormuz Strait, based on law is an international shipping route and if we are banned from using it, we will close it", he told TV channel Al-Alam.

READ MORE: Strait of Hormuz May Close if Iranian Oil Exports Stopped, IRGC Navy Chief Warns

The statement comes amid growing tensions between Tehran and Washington, as earlier in April, the US blacklisted Iran's Islamic Revolutionary Guard Corps (IRGC) as a terrorist organisation, while the Islamic Republic retaliated by officially designating the US Central Command (CENTCOM) as terrorists.

Iranian oil technician checks the oil separator facilities in Azadegan oil field, near Ahvaz, Iran (File) - Sputnik International
Beijing Vows to Defend Business Amid US' Reported Plans to End Iran Oil Waivers
Despite earlier threats to bring Iranian crude oil exports down "to zero", Washington granted "temporary waivers" on exports to major customers, like China, India, Italy, Japan, South Korea, Greece, and Turkey, as well as Taiwan.

Iranian media later reported that despite the US sanctions, the country's oil revenues jumped by nearly 50 percent in 2018.

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