Iran warned of a prolonged war of attrition that could damage the global economy as tensions escalated in the Strait of Hormuz, where Iranian forces reportedly fired on commercial ships amid the ongoing Middle East conflict.
Iran on Wednesday warned it was prepared for a prolonged war of attrition that could damage the global economy as tensions intensified in the Strait of Hormuz, a critical passage for global energy supplies. The warning came as Iranian forces reportedly fired on two commercial vessels and threatened ships linked to the United States or its allies amid the ongoing regional conflict.
The escalation follows a widening war involving the United States and Israel, which has driven a sharp rise in oil prices since February 28 after joint strikes targeted Iran and reportedly killed the country’s supreme leader. In response to the market turmoil, the International Energy Agency announced that member states would release 400 million barrels of oil from strategic reserves in what it described as the largest such release ever.
With the conflict now entering its 12th day, Ali Fadavi, an adviser to Iran’s Revolutionary Guards commander-in-chief, warned that the crisis could expand further. “The US and Israel must consider the possibility that they will be engaged in a long-term war of attrition that will destroy the entire American economy and the world economy,” he told state television. Iran said it struck the Liberian-flagged container ship Express Rome and the Thai bulk carrier Mayuree Naree after they allegedly ignored warnings from the Islamic Revolutionary Guard Corps naval units, while Oman’s navy rescued 20 crew members as search efforts continued for three others.
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