Key Takeaways
- Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened to close additional vital export corridors.
- The IRGC said the Strait of Hormuz would remain closed until 'the end of America’s evils'.
- US military strikes targeted Iranian military and coastal areas in response to Iran’s attacks on commercial shipping.
Iran's Islamic Revolutionary Guard Corps (IRGC) has issued a stark warning, threatening to block additional vital seaways that benefit the United States and its allies. This move comes as the US continues to reimpose a naval blockade of Iranian ports following recent attacks on commercial shipping in the Strait of Hormuz.
In a statement carried by Iran’s IRNA state news agency, the IRGC declared that 'regional energy exports are either shared by all, or denied to all.' Analysts suggest that this could lead to further disruptions in global oil and gas trade. The Bab el-Mandeb Strait, which links the Red Sea to the Gulf of Aden, is now under threat as Iran’s Houthi allies have warned they may close it if Saudi Arabia continues its attacks on Yemen.
The narrow gateway through the Bab el-Mandeb is crucial for global commerce, with a substantial share of global shipping passing through. The Houthis have already demonstrated their ability to choke global trade by launching attacks on commercial shipping in the Red Sea during the Gaza war in October 2023. These actions could send oil prices soaring to $200 per barrel, according to reports.
The latest threat comes a day after the US military announced it had begun a fresh round of strikes 'to continue degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz.' The United States claims that Iran has attacked seven commercial ships over the past week, resulting in nearly a dozen crew members being killed, missing or injured.
In response, the US military launched a wave of strikes lasting seven hours on Tuesday. These targeted dozens of military and logistical facilities near the Strait of Hormuz and Iranian coastal areas. The IRGC also reported setting fire to and destroying what they described as a U.S. logistics facility in Kuwait’s Mina Abdullah.
The IRGC stated that the Strait of Hormuz would remain closed until 'the end of America's evils.' Before the war began in February, about one-fifth of global oil and gas shipments passed through the Strait each day. The Guards targeted what they described as command-and-control, logistics, fuel, and military equipment facilities belonging to the US Fifth Fleet in Bahrain.
Analysts are concerned that these developments could have significant economic repercussions for Pakistan and other countries heavily reliant on Middle Eastern oil imports. The potential closure of key seaways could lead to supply chain disruptions and increased costs for energy-dependent industries.
