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12 Mar 2026
Khamenei vows retaliation, threatens to keep Strait of Hormuz closed as attacks hit shipping

Tehran, Iran. Iran’s new Supreme Leader Mojtaba Khamenei said Iran would avenge its “martyrs,” keep the Strait of Hormuz closed, and attack U.S. bases, in remarks broadcast on state television on Thursday. It was his first statement since succeeding his slain father.


Khamenei’s first remarks as Supreme Leader

In the address, Khamenei said the United States must close all its bases in the region. He said the Strait of Hormuz, which runs past Iran’s coast and supplies a fifth of the world’s oil, should remain shut to put pressure on what he called the enemy.

Ship attacks reported in Iraq and the Gulf

Two tankers were reported ablaze in an Iraqi port on Thursday after being hit by suspected Iranian explosive-laden boats, in attacks that Iraqi authorities blamed on Iranian boats. Images verified by Reuters and filmed from the shore of the port of Basra showed ships engulfed in large fires, and at least one crew member was killed.

Hours earlier, three other ships were reported struck in the Gulf. Iran’s Revolutionary Guards claimed responsibility for at least one of those attacks, on a Thai bulk carrier that was set ablaze, which the Guards said had disobeyed their orders. Another container vessel reported being struck by an unknown projectile near the United Arab Emirates on Thursday.

War and regional spillover

The war began with a U.S.-Israeli bombing campaign at the end of February and has so far killed around 2,000 people, according to the report. The International Energy Agency has described it as the biggest disruption to global energy supplies in history.

More drones were reported on Thursday flying into Kuwait, Iraq, the UAE, Bahrain and Oman, undermining U.S. and Israeli claims to have knocked out much of Iran’s stock of long-range weapons.

Lebanon’s Iran-backed militia Hezbollah fired its biggest volley of rockets into Israel of the war, prompting fresh Israeli strikes on Beirut.

Oil prices and market response

Oil prices rose back above $100 a barrel after falling earlier in the week when U.S. President Donald Trump said the war would be over soon. Iran has said it will not let oil through the Strait of Hormuz until U.S. and Israeli attacks cease.

Trump has repeatedly sought to calm energy markets this week by saying the surge in oil prices will be short-lived.


How do you think continued disruption in the Strait of Hormuz would affect energy prices where you live?

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