In a bold and defiant statement broadcast on state television, Iran’s newly appointed Supreme Leader, Mojtaba Khamenei, vowed to persist in the country’s resistance and maintain the blockade of the strategically vital Strait of Hormuz. This marked the first public remarks attributed to Mojtaba since he succeeded his father, the late Supreme Leader Ayatollah Ali Khamenei, who was killed in a recent strike. His address underscored Iran’s determination to retaliate for the loss of its leaders and to continue leveraging the crucial maritime passageway, through which approximately one-fifth of the world’s oil supply typically transits.
During his speech, Mojtaba Khamenei urged neighboring countries to expel all U.S. military bases from their territories, warning that Iran would persist in targeting these installations. He assured the Iranian populace that avenging the blood of fallen martyrs remained a top priority, emphasizing that the nation’s defensive posture would not waver. The Supreme Leader highlighted the importance of the Strait of Hormuz as a strategic tool, declaring that the blockade must be sustained to exert pressure on adversaries. Notably, the address was delivered by a television presenter rather than Mojtaba himself, and no visual footage of him has been released since the attack that claimed his father’s life. Iranian officials have confirmed that Mojtaba sustained minor injuries, while tragically, his wife, sister, and other family members were killed in the same incident.
Shortly after the Supreme Leader’s statement, Iran’s Revolutionary Guards announced their commitment to uphold the blockade of the Strait of Hormuz, acting in accordance with Mojtaba Khamenei’s directives. The day also saw a significant escalation in regional hostilities, with two oil tankers set ablaze in an Iraqi port following suspected attacks by explosive-laden boats linked to Iran. These assaults represent a marked intensification in efforts to disrupt Middle Eastern oil exports. The attacks come as a direct challenge to U.S. President Donald Trump’s recent declaration that the United States had already won the ongoing conflict. Verified images from the port of Basra captured massive flames engulfing the vessels, illuminating the night sky, and at least one crew member lost their life in the attacks. Earlier on the same day, three other ships were struck in the Gulf region, with Iran’s Revolutionary Guards claiming responsibility for an attack on a Thai bulk carrier that reportedly ignored their orders. Additionally, a container ship near the United Arab Emirates was hit by an unidentified projectile, further highlighting the volatile security situation in the Gulf.
The conflict, which erupted following a U.S.-Israeli bombing campaign at the end of February, has resulted in approximately 2,000 casualties and triggered what the International Energy Agency describes as the most significant disruption to global energy supplies in modern history. Despite claims by U.S. and Israeli officials of having neutralized much of Iran’s long-range missile arsenal, reports emerged of additional drone incursions into Kuwait, Iraq, the UAE, Bahrain, and Oman. Meanwhile, Hezbollah, the Iran-backed militia in Lebanon, launched its largest rocket barrage into Israel since the conflict began, prompting retaliatory strikes on Beirut. These developments have caused oil prices to surge back above the $100 per barrel mark, reversing earlier declines that followed President Trump’s optimistic remarks about the war’s imminent conclusion. Iran has made it clear that it will not allow oil shipments through the Strait of Hormuz until the U.S. and Israeli attacks cease.
President Trump has repeatedly sought to reassure global markets, asserting that the spike in oil prices will be temporary. However, he has yet to outline a clear strategy for ending the conflict or reopening the vital shipping lane. U.S. and Israeli officials maintain their objective is to dismantle Iran’s missile and nuclear capabilities, with Trump demanding Iran’s unconditional surrender and the right to influence its leadership. Speaking at a campaign-style rally in Hebron, Kentucky, Trump declared, “You never like to say too early you won. We won,” adding that the conflict was effectively over within the first hour. Yet, he cautioned against premature withdrawal, emphasizing the need to “finish the job.” On the following day, Trump acknowledged that the U.S. benefits from higher oil prices but reiterated that preventing Iran from acquiring nuclear weapons remains the top priority. Although the United States is a net exporter of oil, it is also the world’s largest consumer, burning roughly twice the amount used by the European Union. Economists warn that sustained high oil prices could fuel widespread inflationary pressures.
Within Iran, the government has visibly increased security measures, with reports of heightened police and military presence on the streets of major cities. Residents describe a climate of fear, with many reluctant to venture outside, though essential services such as supermarkets continue to operate. Despite calls from Israel and the United States for Iranians to rise up and overthrow their clerical rulers, no organized anti-government protests have emerged amid the ongoing conflict. While some citizens celebrated the death of the elder Supreme Leader on the war’s first day, the regime’s security apparatus remains firmly in control. Intelligence assessments indicate that Iran’s leadership structure remains largely intact and stable for the time being.
Mojtaba Khamenei’s remarks reinforce Tehran’s strategy of imposing a prolonged economic shock designed to pressure the United States into backing down. A spokesperson for Iran’s military warned that oil prices could climb to $200 per barrel if the blockade continues. This warning came despite a coordinated announcement by developed nations to release 400 million barrels of oil from strategic reserves, nearly half of which will come from the United States. This intervention represents the largest-ever joint release of oil reserves aimed at stabilizing markets. However, experts note that the reserves will take months to deploy fully and only cover about three weeks’ worth of supply from the blocked Strait of Hormuz. Analysts from ING have stated that the only sustainable way to bring oil prices down is to restore the flow of oil through the strait. Without reopening this critical route, they warn that further price spikes are likely on the horizon.
