Iran has reinstated the closure of the Strait of Hormuz, a critical maritime route for global oil transport, just one day after announcing its reopening. The Iranian government attributed this decision to ongoing US blockades and military actions that it claims violate its sovereignty. Reports indicate that at least two merchant vessels were fired upon while attempting to navigate the strait. The closure follows a temporary reopening that coincided with a US-brokered ceasefire between Israel and Lebanon, which had raised hopes for a de-escalation in regional tensions. Iran's military has asserted strict control over the strait, declaring that no vessels are permitted to pass. This development poses a significant risk to the global economy, as approximately 20% of the world's oil flows through this waterway. The renewed closure is likely to lead to increased oil prices, further straining supply chains already affected by geopolitical conflicts. Iranian Supreme Leader Ayatollah Mojtaba Khamenei has expressed a readiness to confront perceived threats, indicating that the situation remains volatile.