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Then something even more dangerous happened.. Iran announced it would block the Strait of Hormuz.. This narrow waterway is one of the most important oil routes in the world.. Around 20% of the world’s oil passes through it every day.. For countries like India and China, this route is critical.. Nearly 40% of India’s crude oil imports pass through this strait. Oil tankers stop moving.. Global fuel prices explode... The entire world economy begins to shake.