Iran has placed a stranglehold on the key shipping lane -- threatening fuel supplies and roiling the global economy -- in retaliation for US-Israeli strikes that triggered the month-old Middle East war.

"Iran has closed the Strait of Hormuz, prevented commercial vessels and oil tankers from transiting, and imposed conditions on some to pass through the strait," said the GCC secretary-general, Jasem Mohamed AlBudaiwi.

He was speaking in New York at the first Security Council meeting on cooperation with the GCC, which comprises Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Kuwait and Oman.

"We call upon the Security Council to assume its full responsibility and take all necessary measures to protect maritime routes and ensure the safe continuation of international navigation," AlBudaiwi said.

Bahrain has proposed a draft resolution that would greenlight states to use force to assure free transit through the Strait of Hormuz.

However, the measure supported by the United States has divided the 15-member Security Council.

Objections from Russia, China and France -- who each hold veto privileges -- have resulted in several modifications to the text.

"The use of force cannot bring peace. Political settlement is the fundamental way forward," Chinese Ambassador Fu Cong told the Security Council.

"Authorizing member states to use force would amount to legitimizing the unlawful and indiscriminate use of force, which would inevitably lead to further escalation of the situation and lead to serious consequences," he added.

Russia, a long-time ally of Tehran, says it will not support what it calls one-sided measures that fail to address the root causes of the conflict.

French President Emmanuel Macron earlier said a military operation to free the strait is "unrealistic."

A sixth version of the draft text, seen by AFP on Thursday, authorizes states to use "all defensive means necessary" in the Strait -- adding a "defensive" stipulation initially absent.

The vote is set for Friday morning, several diplomatic sources said.

Adoption of the resolution "will reflect the unity of the international community in addressing threats to one of the most vital waterways for global trade and energy security," said Bahrain's Foreign Minister Abdullatif bin Rashid Al Zayani.

US Ambassador Mike Walz told the Security Council that GCC members have the backing of Washington.

"No country should be able to hold the world's economies hostage to try to gain leverage in a dispute," he said.

Normally, around a fifth of the world's oil and liquefied natural gas passes through the Strait of Hormuz.

Its near-total closure is impacting global supplies of important commodities including oil, liquefied natural gas and fertilizer. That has led to a sharp rise in energy prices.