US-Iran Conflict Escalates as Strait of Hormuz Remains Closed

The ongoing US-Iran conflict has taken another turn as Iran's parliament speaker, Mohammad Bagher Ghalibaf, stated that the Strait of Hormuz will not reopen until the country's seven conditions are met. These conditions include a lifting of economic sanctions and a complete stop to all hostilities, as outlined in the Islamabad Memorandum of Understanding.

Meanwhile, Yemen's Houthi rebels have claimed responsibility for carrying out a ballistic missile attack on the Aramco oil refinery in Riyadh, Saudi Arabia. The attack was carried out in retaliation for recent Saudi coalition airstrikes against Sanaa and other Yemeni provinces.

Australia's treasurer, Jim Chalmers, has also weighed in on the conflict, stating that it has been an economic disaster, contributing to high inflation and slowing global growth. US President Donald Trump has warned Iran of a 'hard way' if they do not comply with US demands, while Russian deputy chairman Dmitry Medvedev stated that Moscow would 'never sacrifice' its relationship with Iran.

Tensions in the region remain high as Yemen's armed forces conduct strikes against Houthi targets in Sanaa. The Strait of Hormuz remains closed, and it is unclear when or if it will reopen.