According to Iranian state media, a spokesperson for the Islamic Revolutionary Guard Corps warned that Iran could block oil exports from the region if attacks by the United States and Israel continue.
The statement came after Donald Trump warned that American strikes could intensify if Iran attempted to disrupt tanker traffic through the Strait of Hormuz, a key waterway that carries nearly 20 percent of the world’s oil supply.
Trump said the United States would respond forcefully if shipping routes were threatened.
“We will hit them so hard that it will not be possible for them or anybody else helping them to ever recover that section of the world,” Trump said during a news conference.
Iran Issues Warning on Oil Tankers
Despite the warning, Iranian officials insisted that Tehran would not allow oil tankers to pass through the Strait of Hormuz if military attacks against the country continue.
“We are the ones who will determine the end of the war,” an Iranian spokesperson said, according to reports.
Markets React to Escalating Tensions
The sharp exchange of warnings contributed to extreme volatility in global financial markets.
Oil prices surged sharply while stock markets initially fell before stabilizing later in the day.
Markets reacted after Trump suggested the conflict could end quickly and reports emerged about a possible easing of sanctions on Russian energy supplies.
Analysts say uncertainty remains high as Iran’s security establishment rallies behind the country’s new Supreme Leader Mojtaba Khamenei, signaling that Tehran is unlikely to back down soon.