foreign-policy
Iran's new Supreme Leader issues first statement vowing to keep Strait of Hormuz closed as oil crisis deepens
What Changed
Iran's new Supreme Leader Mojtaba Khamenei issued his first public statement on Thursday, delivered via state television, declaring Iran will keep the Strait of Hormuz closed and continue attacking US bases in the region. Oil prices topped $100 per barrel as the International Energy Agency warned of the largest supply disruption in oil market history.
Mar 11US and Israeli strikes continue; Iran escalates attacks on Gulf infrastructure including Dubai airport
Mar 12Mojtaba Khamenei issues first statement as Supreme Leader; oil tops $100; US announces investigation into school strike
Why It Matters
The statement signals Iran's new leadership will maintain an aggressive posture in the ongoing conflict, potentially prolonging a crisis that has already displaced 3.2 million Iranians, cost the US $11.3 billion in six days, and created unprecedented global energy market disruption affecting oil supplies worldwide.
What to Watch
Whether Iran's president's reported peace terms gain traction, if the US military can develop capability to escort ships through Hormuz, and how long global strategic petroleum reserves can sustain current release levels to combat price spikes.
Open Questions
- Whether the US was responsible for striking an Iranian school that killed at least 165 people
- How long Iran can maintain its blockade of the Strait of Hormuz
- Whether Iran's reported peace terms represent genuine diplomatic openings
- How sustainable current strategic petroleum reserve releases are globally
Confidencehigh
Agreementbroad