Iran has said that if the United States launches fresh strikes, it will close the Strait of Hormuz once again, official news agency Press TV reported citing sources.
The statement comes hours after American President Donald Trump warned of launching strikes on Tehran tonight. Trump also signalled a possible escalation in the conflict with Iran, saying the US could target higher-value assets if necessary, including potentially taking control of Kharg Island.
"We may take over Kharg Island," Trump said while speaking to reporters, signalling a potential escalation in US pressure on Tehran.
Trump also said the US could impose a blockade targeting only Iran if required. “We may put down the blockade, … and it'll only be a blockade for Iran,” he told reporters.
Oil prices, which had cooled off in the last few weeks, surged once again. Closure of the Strait of Hormuz would once again lead to energy disruption and crude oil prices spiralling out of control. As of 8:36 p.m. IST, Global benchmark brent crude traded nearly 8% higher, verging on the $80 per barrel mark.
ALSO READ: Trump Threatens To Seize Kharg Island, Says Will Re-Impose Hormuz Blockade To Block Iran Vessels
Earlier in the day, the Republican President had declared that the ceasefire between the two countries was effectively over. Speaking on the sidelines of the NATO Summit happening in Ankara, Turkey, he later added that any deal with Iran might not hold.
However, he stated that he will not stop discussions from happening, highlighting such talks remain possible. He added that negotiators could continue discussions and "see what happens."
The US president accused Iran of violating agreements every day and claimed Tehran used the period of a funeral to carry out attacks. He also said Iran would not be able to prevent any US military action if Washington decided to act.
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