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Mojtaba Khamenei warns Hormuz will stay shut; Trump says oil price surge benefits US

In his first statement, Supreme Leader says Tehran will continue attacking shipping and energy infrastructure in the Gulf and target American military bases in the region

A man on a motorcycle looks at a large billboard featuring Iran's new Supreme Leader Mojtaba Khamenei, in Tehran, March 12, 2026 Reuters

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Published 12.03.26, 07:57 PM

Iran’s newly appointed Supreme Leader Mojtaba Khamenei vowed on Thursday to avenge those killed in the ongoing war and keep the Strait of Hormuz closed, signalling a hardline stance against the United States and its allies in his first public remarks.

In a statement read on Iranian state television, Khamenei said Iran would continue attacking shipping and energy infrastructure in the Gulf and would target American military bases in the region.

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He also demanded that the United States shut down all its bases in the Middle East.

“The blood of our martyrs will be avenged,” Khamenei said, adding that the strategic Strait of Hormuz — which carries about a fifth of the world’s oil supply — should remain closed to exert pressure on Iran’s enemies.

Khamenei did not appear on camera. Israeli officials have assessed that he may have been wounded during the war’s opening strikes.

US President Donald Trump said on Thursday that rising oil prices mean greater profits for the United States, but his priority is stopping Iran from having nuclear weapons.

“When oil prices go up, we make a lot of money,” said Trump. He added that the United States had “virtually destroyed Iran” but added that military operations would continue.

“You never like to say too early you won. In the first hour it was over, ” Trump said at a rally in Hebron, Kentucky on Wednesday. “We don’t want to leave early… we’ve got to finish the job.”

Khamenei’s statement comes as Iran intensifies attacks on maritime traffic and regional infrastructure, escalating a conflict that began on February 28 with a US-Israeli bombing campaign targeting Iranian military and nuclear facilities.

The war has already killed around 2,000 people and caused what the International Energy Agency has described as the biggest disruption to global energy supplies in history.

Oil prices surged back above $100 a barrel on Thursday as fears of prolonged disruption spread through global markets.

Two tankers were set ablaze at Iraq’s Basra port on Thursday after being struck by suspected Iranian explosive-laden boats. Images verified by Reuters showed ships engulfed in massive orange fireballs lighting up the night sky. Iraqi authorities said at least one crew member was killed in the attack.

Earlier in the day, three other ships were struck in the Gulf. Iran’s Revolutionary Guards claimed responsibility for at least one incident involving a Thai bulk carrier that was set on fire after allegedly ignoring Iranian warnings. Another container vessel reported being hit by an unidentified projectile near the United Arab Emirates.

Iran has said it is trying to inflict economic pressure globally to force the United States and Israel to halt their bombardment. Tehran has also warned it will block oil shipments through the Strait of Hormuz until attacks on Iran stop.

Iran’s president indicated the conflict could continue even if a ceasefire is declared, saying the country would keep up its military operations until it receives firm guarantees against future assaults.

Iran War Mojtaba Khamenei
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