Daijiworld Media Network – Tehran

Tehran, Mar 12: Iran’s newly appointed supreme leader, Mojtaba Khamenei, has warned that Iran will persist with its attacks on Gulf Arab neighbors and may utilize the strategic leverage of closing the Strait of Hormuz.

In his first statement since assuming the role following the death of his father, Ali Khamenei, the message was read on Iranian state television by a news anchor. Mojtaba Khamenei did not appear on camera, amid unconfirmed reports that he may have been wounded during the early stages of the conflict.

Global oil prices spike

Iran’s continued attacks on shipping routes and energy infrastructure in the Arabian Gulf have pushed global oil prices sharply higher. Brent crude has crossed $100 per barrel, marking an approximate 38 percent increase since the war began on February 28.

The conflict intensified following military strikes by the United States and Israel targeting Iran’s military and nuclear infrastructure. In response, Iran has launched regional attacks targeting vessels, oil facilities, and strategic locations.

Economic disruption as strategic pressure

Iranian leaders appear to be leveraging attacks on shipping lanes and infrastructure to cause global economic disruption, aiming to force the United States and Israel to halt their military campaigns.

Iranian President Masoud Pezeshkian stated that the war would only end if Iran receives security guarantees against future attacks, along with recognition of its “legitimate rights” and compensation for damages. Meanwhile, US President Donald Trump has asserted that the United States intends to “finish the job,” despite claiming that Iran’s military capability has already been severely damaged.

Escalation of regional attacks

The regional security situation has deteriorated as Iran-backed Hezbollah militants fired approximately 200 rockets into northern Israel, while Israeli forces conducted new airstrikes in Tehran and Lebanon.

Direct attacks against several Gulf countries have also been reported:

• UAE: A container ship was hit near Dubai, sparking a minor fire. Air defense systems were activated twice to intercept drones targeting Dubai, and firefighters extinguished a blaze after a drone struck a tower.

• Bahrain: An Iranian attack triggered a major fire on Muharraq Island, which houses the country’s international airport.

• Kuwait: A drone struck a residential building, injuring two people, while another attack damaged Kuwait International Airport.

• Saudi Arabia: Drones targeting the diplomatic quarter in Riyadh and oil facilities in the eastern region, including the Shaybah oil field, were reportedly shot down.

Strait of Hormuz threat

Iran’s control over the Strait of Hormuz, the narrow waterway through which nearly 20 percent of the world’s oil supply passes, has raised global alarm. Analysts warn that a complete closure of the strait would severely impact global energy markets and drive prices even higher.

Humanitarian crisis

According to the United Nations refugee agency, up to 3.2 million people have been displaced within Iran due to the ongoing war, with many fleeing major cities for rural areas. In Lebanon, at least 759,000 people have been internally displaced as fighting between Israel and Hezbollah intensifies.