Iran has declared it will not allow “even a single litre of oil” to pass through the strategic Strait of Hormuz to the United States, Israel and their allies, dramatically escalating tensions in the Middle East.
In a statement on Wednesday, Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya joint military command headquarters, said Tehran’s policy of limited retaliatory strikes has ended and will now be replaced by a strategy of “strike upon strike.”
“Tehran will not allow even a single litre of oil to pass through the Strait of Hormuz to reach the US, Israel and their partners,” Zolfaqari said, warning that any vessel or tanker bound for those countries would be considered a legitimate target.
He also warned that global oil prices could surge sharply as a result of the escalating conflict. “Get ready for the oil barrel to reach $200 because oil prices depend on regional security, which you have destabilised,” he said.
The threat comes amid intensifying military exchanges between Iran and Israel across the region. Israel announced it had launched a “wide-scale wave” of strikes targeting Iranian-linked infrastructure while also carrying out attacks in Beirut.
The Israeli Defense Forces (IDF) said the strikes were aimed at facilities belonging to Hezbollah and what it described as assets of the Iranian regime.
Meanwhile, Iran’s Islamic Revolutionary Guard Corps (IRGC) said it had launched the 38th phase of its offensive operations against US and allied targets in the region.
In a statement, the IRGC claimed it had fired two powerful missiles at the Adiri helicopter base in northern Kuwait, injuring around 100 people who were later taken to Al Jaber and Al Mubarak hospitals for treatment.
The group also said it carried out missile and drone strikes on an American base at Mina Salman port in Bahrain. According to the statement, other targets included Camp Patriot and facilities near the Mohammed Al Ahmad and Ali Al Salem naval bases in Kuwait, as well as warehouses used to store equipment for US forces.
“We only think about the complete defeat of the enemy,” the IRGC said. “This fight will end only when the shadow of war is removed from our country.”
Iran has also threatened to expand its retaliation to economic targets. Zolfaqari warned that Iranian forces could target US and Israeli banks operating in the region following what Tehran says was an attack on a bank inside Iran.
According to Iran’s state news agency IRNA, the military spokesman urged civilians to stay at least one kilometre away from banks linked to the US and Israel, saying those facilities could become targets.
Iranian state television also reported that a building belonging to state-owned Sepah Bank in Tehran had been targeted, while disruptions were reported earlier this week in the services of Sepah Bank and another state-run lender, Bank Melli.
The escalating threats have raised fresh concerns over the security of the Strait of Hormuz, a narrow but vital waterway through which nearly a quarter of the world’s oil supply passes each day. Any disruption in the Strait could have major consequences for global energy markets and international trade.