Iran-US Conflict Escalates Over Oil Tanker Blockade
The conflict between Iran and the US has reached a critical phase as both sides continue to engage in a war of words, despite leaving open a narrow door for diplomacy.
A recent escalation by Washington targeting Iranian oil tankers has led Tehran to declare a 'prohibited zone' outside the Strait of Hormuz, warning that any American attacks on its vessels will be met with retaliation against US oil and gas companies in the region.
Iran's Secretary of the Supreme National Security Council Mohsen Rezaei has threatened to establish a naval prohibition zone stretching across the Gulf towards the perimeter of the US blockade, which would include parts of the Gulf and any ship entering it would be placed on the sanctions list.
The economic cost of the war is becoming increasingly difficult to conceal, with inflation, currency devaluation, rising food prices, disrupted trade, electricity and water shortages, and Internet access interruptions all adding to the pressure on the government.