Iran's Revolutionary Guard says it will close the Strait of Hormuz

"We will not allow a single drop of oil to leave the region," said Ebrahim Jabbari, an adviser to the Revolutionary Guard, on Iranian television, according to Bloomberg.

Since Israel and the US launched a joint attack on Iran on Saturday, there have been several reports that Iran has effectively closed the Strait of Hormuz, and many shipping companies said on Sunday they are halting traffic in the Persian Gulf.

For many years, Tehran has threatened to block the narrow and strategically important Strait of Hormuz - the world's most important transport route for oil exports from the Gulf countries.