In a bold and defiant declaration, Iran’s newly instated Supreme Leader, Mojtaba Khamenei, announced on Thursday that the country will persist in its efforts to keep the strategically vital Strait of Hormuz closed. This statement, broadcast on state television, marks his first public communication since succeeding his father, the late Supreme Leader Ayatollah Ali Khamenei, who was killed in a recent strike. The younger Khamenei’s address underscored Iran’s unwavering commitment to confronting its adversaries and maintaining pressure on the United States and its allies in the region.
During his address, Khamenei urged neighboring countries to expel all U.S. military bases from their territories, warning that Iran would continue to target these installations. He emphasized the importance of avenging the blood of Iranian martyrs and vowed to uphold the blockade of the Strait of Hormuz, a critical maritime chokepoint through which approximately one-fifth of the world’s oil supply typically passes. His remarks conveyed a clear message that Iran intends to leverage its control over this passage as a strategic tool in the ongoing conflict.
Interestingly, the state broadcaster chose to have Khamenei’s statement read aloud by a presenter rather than airing a direct video message from the Supreme Leader himself. No visual footage of Mojtaba Khamenei has been released since the attack that claimed his father’s life, although Iranian officials have confirmed that he sustained minor injuries. The new leader also revealed that several family members, including his wife and sister, were killed in the same strike, adding a personal dimension to his vow for retribution.
Shortly after the speech, Iran’s Revolutionary Guards announced their intention to continue enforcing the closure of the Strait of Hormuz, acting on Khamenei’s orders. This development came amid reports of two tankers ablaze in an Iraqi port following attacks by explosive-laden boats suspected to be Iranian. These incidents represent a significant escalation in maritime hostilities that have severely disrupted oil shipments from the Middle East. The attacks defy U.S. President Donald Trump’s recent assertion that the United States had already won the conflict, highlighting the ongoing volatility in the region.
Images captured from the shore of Basra port showed the tankers engulfed in massive flames, illuminating the night sky with intense orange fireballs. At least one crew member lost their life in these assaults. Earlier on the same day, three other vessels were targeted in the Gulf, with Iran’s Revolutionary Guards claiming responsibility for setting a Thai bulk carrier on fire after it allegedly ignored their warnings. Additionally, an unidentified projectile struck a container ship near the United Arab Emirates, further intensifying concerns over maritime security.
The conflict, which ignited following a U.S.-Israeli bombing campaign at the end of February, has already 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. Contrary to claims by the U.S. and Israel that much of Iran’s long-range weapons stockpile has been neutralized, reports indicate an increase in drone activity over Kuwait, Iraq, the UAE, Bahrain, and Oman. Meanwhile, Lebanon’s Hezbollah militia, backed by Iran, launched its largest rocket salvo into Israel since the war began, prompting retaliatory Israeli strikes on Beirut.
These developments have sent oil prices soaring back above the $100 per barrel mark after a brief decline earlier in the week when President Trump suggested the conflict would soon conclude. Iran has made it clear that it will not allow oil shipments to pass through the Strait of Hormuz until the U.S. and Israeli military actions cease, effectively holding the global energy market hostage to the ongoing hostilities.
President Trump has repeatedly sought to reassure markets by downplaying the duration of the oil price surge, though he has yet to provide a clear strategy for ending the blockade or reopening the strait. 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. At a rally in Kentucky, Trump declared, “You never like to say too early you won. We won,” while also cautioning against premature withdrawal, emphasizing the need to “finish the job.” On Thursday, he stated that the U.S. benefits from higher oil prices but reiterated that preventing Iran from acquiring nuclear weapons remains a top priority.
Within Iran, security forces have visibly increased their presence across urban centers, signaling the regime’s determination to maintain order amid the crisis. Residents in Tehran report heightened patrols and a palpable atmosphere of caution, with many reluctant to venture outside despite essential services like supermarkets remaining operational. Intelligence assessments suggest that Iran’s leadership structure remains largely intact and stable, despite calls from the U.S. and Israel for popular uprisings aimed at toppling the clerical regime. Although some Iranians celebrated the death of the elder Khamenei, who was responsible for suppressing anti-government protests earlier this year, there has been no significant organized resistance during the current period of conflict.
Khamenei’s statements reinforce Tehran’s strategy of leveraging prolonged economic pressure to compel the U.S. administration to reconsider its stance. Iranian military officials have warned that oil prices could spike to $200 per barrel if the blockade persists. This warning came despite a coordinated release of 400 million barrels of oil from strategic reserves by developed nations, nearly half of which came from the United States. While this intervention is the largest ever of its kind, the reserves will only provide a temporary buffer, covering roughly three weeks of supply from the blocked strait.
Market analysts from ING have noted that a sustained reduction in oil prices hinges entirely on the reopening of the Strait of Hormuz. Without the resumption of uninterrupted oil flow through this critical passage, they predict that global energy prices will continue to climb, potentially leading to broader inflationary pressures worldwide. The ongoing standoff thus remains a pivotal factor shaping the geopolitical and economic landscape in the months ahead.
