Iran threatens US oil, gas assets.
Regional tensions were also heightened by Israeli strikes on a town in southern Lebanon that killed at least 12 people on Monday, according to Lebanon’s health ministry.
“Strike our assets and you get struck,” Iranian Parliament Speaker Mohammad Baqer Qalibaf said after US and Iranian forces traded strikes on shipping over the weekend, pushing oil prices to near six-week highs on Monday, according to Reuters. Rezaei said the restricted zone would begin where a US naval blockade of Iran starts and extend into parts of the Gulf. “We will only commit to the Strait of Hormuz being open when they (the Americans) stop the sabotage, threats and attacks on Iran,” Rezaei said. Iran has said it will step up efforts to address problems caused by US sanctions, which have put further pressure on its economy.
The strikes followed attacks by Iran’s Revolutionary Guards on US warships operating in the region. The disruption is also being felt in the United States, where higher fuel prices have added to economic pressures and could weigh on President Donald Trump’s popularity ahead of November’s midterm elections. On Sunday, senior Iranian security official Mohsen Rezaei said Tehran would soon announce a new restricted zone in the Gulf and establish a new shipping corridor through the strait. Earlier on Saturday, US forces struck three Iranian oil tankers, including one near Kharg Island, Iran’s main oil export hub, according to US Central Command.