IEA chief warns Strait of Hormuz crisis threatens global energy security

The United States has reimposed a naval blockade on Iranian ports, marking a sharp reversal in diplomatic efforts following a recent agreement aimed at easing tensions. The move comes just under a month after the U.S. and Iran signed a memorandum of understanding (MoU) intended to foster cooperation and reduce hostilities. According to the U.S. Central Command (CENTCOM), the new restrictions are part of a broader strategy to counter ongoing Iranian attacks on shipping in the strategic Strait of Hormuz. The blockade effectively blocks maritime traffic into and out of Iranian ports and coastal regions, signaling a return to heightened military pressure. The decision follows a series of coordinated attacks by Iran on U.S.-aligned vessels in the Gulf, prompting a retaliatory strike by American forces. On Wednesday, CENTCOM confirmed that U.S. military aircraft, drones, and naval units conducted a seven-hour assault targeting dozens of Iranian military installations near the Strait of Hormuz and along the coast. These strikes focused on missile and drone facilities, naval infrastructure, and coastal defense systems. Iranian state media reported that U.S. missiles damaged a civilian watchtower in Chabahar, a key port city, while other accounts claimed that a military base in Bampur was targeted. The Iranian Ministry of Health spokesperson, Hossein Kermanpour, stated that over 260 individuals were injured in these attacks, with more than 30 civilians reportedly killed. In response, Iran's Islamic Revolutionary Guard Corps (IRGC) launched retaliatory strikes using drones and missiles against U.S. military assets in Bahrain, Kuwait, and Jordan. In Kuwait, Iranian attacks reportedly damaged a naval vessel, injuring four crew members. Bahrain activated air raid alerts, urging citizens to seek shelter. Jordan’s military intercepted and destroyed four Iranian ballistic missiles that entered its airspace. The Kuwaiti military also warned residents to follow official safety guidelines following the attacks. Iranian officials swiftly denounced the U.S. actions, with Deputy Foreign Minister Kazem Gharibabadi declaring the MoU with Washington invalid. The IRGC further warned that it would suspend all energy exports from the Middle East unless regional nations collectively agree on terms, stating that oil and gas shipments would be shared universally or withheld entirely. This threat underscores the deepening crisis and the potential for economic disruption across the region. Meanwhile, the U.S. Treasury sanctioned several cryptocurrency wallets associated with the Central Bank of Iran, freezing over $130 million in assets. This action aims to curb financial support for Iran’s military activities. U.S. Defense Secretary Pete Hegseth met with Iraqi Prime Minister Ali al-Zaidi at the Pentagon, outlining Washington’s demands for greater collaboration with Baghdad. Hegseth emphasized the need for Iraq to assert its sovereignty and disband Iran-backed militias responsible for attacks on U.S. forces during the ongoing conflict with Israel. Iran’s permanent representative to the United Nations, Amir-Saeid Iravani, sent a message to UN Secretary-General António Guterres, likely addressing the escalating situation. While the content of this communication remains undisclosed, it signals Iran’s intent to engage international bodies in its grievances. As tensions escalate, the immediate focus remains on the impact of the U.S. blockade and the potential for further retaliation. The situation continues to evolve, with both sides poised for continued confrontation. The outcome of these developments will likely shape the geopolitical landscape of the region for weeks to come.