Tehran vows to halt all regional oil shipments amid escalating strikes
Iran's Revolutionary Guards have issued a stark warning that not a single litre of oil would be permitted to leave the Middle East should American and Israeli military operations persist, dramatically raising the stakes in an already volatile conflict. The declaration drew a swift and forceful response from US President Donald Trump, who cautioned that Washington would strike Iran with overwhelming force if it attempted to disrupt exports from the critical energy-producing region.
The threat comes as global financial markets experienced sharp turbulence on Monday, driven by growing fears that Iran's security apparatus has consolidated its support behind new Supreme Leader Mojtaba Khamenei and shows no willingness to capitulate. Khamenei's appointment on Monday extinguished hopes of a rapid resolution to hostilities, sending oil prices soaring and equity markets into freefall before a partial reversal occurred following Trump's prediction of a quick conclusion to the war.
"We are the ones who will determine the end of the war," a Revolutionary Guards spokesperson declared through state media channels.
Trump maintained that the United States had dealt significant damage to Iran's military infrastructure and forecast that the conflict would conclude well ahead of his previously outlined four-week timeline, though he has yet to articulate what a definitive victory would entail. Israel has stated its objective is the dismantling of Iran's theocratic government, while American officials have largely focused on neutralising Iran's missile capabilities and nuclear programme. Trump, however, has indicated the war can only conclude with a compliant government in Tehran.
Oil crisis deepens as Strait of Hormuz effectively shut down
The conflict has already rendered the Strait of Hormuz — through which approximately one-fifth of the world's oil supply passes — effectively impassable, with tankers grounded for over a week and producers forced to cease pumping as storage capacity reaches its limits. Trump issued a pointed warning about the consequences of any formal blockade.
"If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far," Trump wrote on Truth Social.
At least 1 332 Iranian civilians have lost their lives and thousands more have sustained injuries since the US and Israel commenced a sustained campaign of air and missile strikes across Iran at the end of February, according to Iran's ambassador to the United Nations. In a particularly devastating development, Tehran was engulfed in thick black smoke after an oil refinery was struck, marking an escalation in attacks targeting the country's domestic energy infrastructure. World Health Organisation chief Tedros Ghebreyesus cautioned that the resulting blaze posed serious risks of contaminating food, water and air supplies.
Following a telephone conversation with Russian President Vladimir Putin, Trump announced that Washington would waive oil-related sanctions on certain nations to alleviate the growing energy shortage. Multiple sources indicated this could involve further relaxation of restrictions on Russian oil — a move that risks undermining efforts to hold Moscow accountable for its ongoing war in Ukraine. Additional measures under consideration reportedly include releasing oil from strategic reserves or curbing American exports. The cost of fuel carries significant political weight in the US, where voters consistently rank rising prices among their chief concerns ahead of November's midterm elections.
Meanwhile, the conflict continued to widen on multiple fronts. Turkey confirmed that NATO air defence systems intercepted a ballistic missile fired from Iran that entered Turkish airspace — the second such incident since hostilities began. Israel's military announced fresh strikes in central Iran and targeted the Lebanese capital, Beirut, extending its campaign after the Iran-backed militia Hezbollah launched cross-border attacks. In a separate development, Australia granted humanitarian visas to five members of Iran's women's football team who sought asylum over fears of persecution, while Canberra pledged to deploy military surveillance aircraft to the region and supply missiles to the United Arab Emirates for defensive purposes.
