U.S. Secretary of State Marco Rubio has rejected Iran’s reported conditions for reopening the Strait of Hormuz, warning that Tehran is attempting to use the key global oil route as an “economic nuclear weapon.”

Axar.az reports in an interview with Fox News, Rubio said the United States would not allow Iran to use an international waterway for “extortion” or as leverage against the global community.

Responding to reports that Iran had proposed reopening the strait following stalled negotiations, Rubio said any arrangement requiring ships to seek Iran’s permission or pay fees would not qualify as a genuine reopening.

“If opening the strait means you need Iran’s permission or have to pay to pass, that’s not opening it,” Rubio said.

He added that Iran is trying to use the waterway against the entire world and, in his words, boasts about holding around 20% of the world’s oil supply hostage.