Iran’s foreign minister wrote in the Financial Times that, by geography, Iran has unmatched control over maritime traffic in the Strait of Hormuz and that alternative routes are overhyped; the waterway is indispensable to the region and the global economy.

He said Iran is determined to fulfil its historical role as guardian of the strait and of vessels with lawful passage. A solution remains possible only if the US genuinely accepts it has no military option, he added.

Any further escalation in or around the Strait of Hormuz would endanger civilian lives, the welfare of all regional states and the global economy. He warned that US military action instead of diplomacy would produce greater strategic failure and said Iran will not yield to any power.