Beijing has urged the international community to step up efforts to de-escalate the conflict between Iran and Israel, warning that the fallout could damage the global economy as Tehran threatens to block the Strait of Hormuz – one of the world’s most important shipping routes.

A blockade of the strait, which handles roughly 20 per cent of global oil and gas flows, could dramatically push up oil and natural gas prices, risking a global energy and trade crisis, analysts said.

Speaking at a regular press conference on Monday, China’s Foreign Ministry spokesman Guo Jiakun stressed the strategic importance of the Persian Gulf and its adjacent waters for the global trade in goods and energy.

“Maintaining security and stability in the region is in the common interests of the international community,” Guo said.

Iran’s parliament approved a measure to close the Strait of Hormuz after the United Stateslaunched military strikes on its nuclear facilities over the weekend. The final decision rests with the country’s Supreme National Security Council and Supreme Leader Ayatollah Ali Khamenei – but the move has already deepened fears for the global energy trade.