Sri Lanka, June 23 -- In response to recent American attacks, the Iranian Parliament has passed a proposal to close the Strait of Hormuz, the critical waterway connecting the Persian Gulf to international waters.

This decision is already sparking concerns about severe impacts on Asian countries.

The Strait of Hormuz is a crucial artery for global oil transportation, accounting for approximately 20% of the world's crude oil flow.

Its narrowest point is 54 kilometres wide and falls within Iranian territory.

Iran, the world's seventh-largest oil producer, produces around 4 million barrels per day.

While accounting for 9% of global oil production, Iran wields significant influence, holding a 30% market power, largely due to its strategic...