Iran announced Saturday it will close the Strait of Hormuz in response to recent deadly Israeli strikes in Lebanon. This action threatens global markets and maritime traffic through a critical waterway for oil transport. The announcement comes despite planned peace talks, mediated towards a definitive end to the Middle East conflict, scheduled to begin Sunday in Switzerland. Iranian military officials made the declaration as a retaliatory measure, escalating tensions in the region. Despite the threat, Iran has not yet broken off negotiations. The move has caused immediate concern regarding potential disruptions to global energy supplies and international trade. Further details regarding the implementation of the closure were not immediately available.