Iranian attacks, Hormuz closure ‘crossed all red lines’: Gulf bloc

The Gulf Cooperation Council (GCC) warned Thursday that Iranian attacks on Gulf countries and the closure of the Strait of Hormuz have “crossed all red lines,” raising alarm over global economic consequences, Anadolu reports. Speaking at a press conference in the Saudi Arabia capital, Riyadh, GCC Secretary-General Jasem Al Budaiwi said the situation in the Gulf poses an immediate and long-term threat to international stability. “The Strait of Hormuz is closed today, and the results might be limited for some period of time, but on the long run, this will affect the economic growth in the world,” he said. Budaiwi said the escalation has already impacted the global economy, with rising prices and increased transportation costs, while maritime navigation through […]