While maintaining that a decision regarding transiting of vessels through Hormuz rests with Iran, the IRGC also warned countries assisting the US and said they would be given a "harsh response" if they do not correct their behaviour. The contention over Strait of HormuzNearly one-fifth of the world's crude transits through the Hormuz, and its blockade could severely impact the global supply chains. The US has called for Hormuz to remain open, but Iran points out that the Strait falls under its complete control. Iran has repeatedly said if the US continues its threats, the Hormuz can't be reopened. US says Iran 'exploiting' HormuzAccording to the US, IRGC's Persian Gulf Marine Insurance Company and Hormuz Safe Marine Services Authority are running coercive 'insurance' schemes that extort international shipping transiting the Hormuz.