Iran: US launches fresh strikes as hostilities flare again

On Tuesday evening, the United States launched additional strikes against targets near the Strait of Hormuz, reigniting hostilities in the region. Iranian state television reported explosions in Bandar Abbas and Qeshm Island, as well as on Lavan Island, home to a key oil export terminal. Oil prices surged following the attacks, with US crude climbing up to 5%.

The US Central Command confirmed the strikes, citing recent attempts by the Islamic Revolutionary Guard Corps (IRGC) to attack commercial shipping in the Strait of Hormuz and American service members in the area. President Donald Trump claimed the US response was "large and powerful," retaliating for the failed Iranian attempts to place mines in the strait and firing eight missiles at a US base in Jordan, all of which he claimed were shot down.

However, he warned further retaliation was imminent, stating, "But it will not be the biggest attack of them all. That is waiting in the wings." An IRGC spokesman vowed Iran would deliver "crushing and devastating blows" against the US. Iran's armed forces claimed to have launched operations against unspecified targets in the region.

Meanwhile, US Treasury Secretary Scott Bessent announced plans to impose further sanctions on Iran, including a potential bank sanction within the week. The flare-up in hostilities came after Iranian President Masoud Pezeshkian vowed to reciprocate any US move signaling a return to the collapsed ceasefire deal, accusing Washington of reneging on its commitments.

Pezeshkian met with Russian President Vladimir Putin, who reportedly pledged Russia's solidarity with Iran and their continued economic ties despite the tensions.