Hormuz Crisis: Iran Warns of Economic War
The crisis around the Strait of Hormuz Escalates, as Iran threatens to declare a new naval blockade and target U.S. ships with advanced missiles, intensifying tensions between the two sides. Iran launched a guided missile at U.S. warships, while continuing to disrupt shipping traffic through the strait, which previously handled about one-fifth of global shipments before the escalation. Iran is expected to soon announce the establishment of a blockade covering parts of the Gulf, accompanied by threats of military and economic escalation in the region, amid decreasing navigation activity and warnings that the situation will continue to escalate if Washington maintains its stance.
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