Iran Threatens Gulf Energy Infrastructure Over US Attacks
Iran has threatened to retaliate against any further US attacks on its assets, warning that energy infrastructure across the Gulf, including American oil and gas interests, is at risk. Mohammad Bagher Ghalibaf, speaker of Iran's parliament, stated, "Bomb our assets and you will be bombed," following reciprocal attacks on ships over the weekend that sent oil prices to six-week highs. This latest threat escalates tensions amid a prolonged conflict with no diplomatic breakthrough in sight.
Mohsen Rezaei, secretary of Iran's Supreme National Security Council, announced that Iran will soon declare new no-go zones in the Gulf and reveal maps for a new shipping corridor through the Strait of Hormuz. Iran has restricted navigation through the vital waterway since February 28, coinciding with US and Israeli strikes. Rezaei indicated that any vessel entering the new zone would face sanctions and that Iran would only ensure passage through the Strait of Hormuz when the US ceases "sabotage, threats, and attacks."
In a defiant response to US Defense Secretary Pete Hegseth's remarks about Iran's oil tanker fleet being "isolated," Ghalibaf posted on X, "The equation is simple: the oil and gas production chain here is vast, accessible, and exposed. American oil and gas companies in these waters and facilities are at the same risk."
Meanwhile, Israeli airstrikes on a town in southern Lebanon on Monday killed at least 12 people, increasing regional tensions and raising fears of a renewed Israeli military campaign despite a June ceasefire with Hezbollah. Tehran insists that any lasting agreement with Washington must include a halt to Israeli attacks on Lebanon.
The US Central Command reported striking three Iranian oil tankers on Saturday, one near Iran's main oil export hub, Kharg Island, in response to attacks by Iran's Revolutionary Guard on US warships. Shipping data shows a significant drop in commodity tanker transits through the Strait of Hormuz, averaging only 10 vessels daily over the past ten days, the lowest since May.
Iran is facing increasing economic pressure from US sanctions aimed at choking its oil exports. Ghalibaf acknowledged that Iran's primary battle, alongside the military front, is now linked to production and citizens' livelihoods, citing currency fluctuations, inflation, unemployment, and market disruptions. The conflict has also impacted Gulf Arab nations like the UAE, which is developing alternative energy export routes to avoid being "hostage" to Iran's war. The disruptions have also affected the US, with rising fuel prices impacting public opinion ahead of the November midterm elections.
