US-Iran War Escalates as Trump Targets Energy Infrastructure
The US-Iran war has entered a new and potentially treacherous phase. President Trump announced plans to launch a harsh bombing campaign against Iran's energy infrastructure, including refineries.
This move comes just days after a US-backed proposal aimed at disarming Hamas was launched through the Board of Peace. The plan could lead to Israel's return to combat operations, which it had halted during the fragile truce between the US and Iran.
The US strategy has been to push Tehran to the brink from day one, despite the risks involved. In February, an agreement was reached where Iran agreed to 'zero stockpiling' of enriched material, blending existing stockpiles for fuel, and full verification by the International Atomic Energy Agency (IAEA).
However, on February 28, Israel and the US launched 'Operation Epic Fury,' a bombing campaign against uncertain objectives. IAEA head Rafael Grossi later noted that there was no evidence of Iran having a nuclear weapon or a structured program.
The White House has repeatedly sabotaged peace efforts, undercutting their own Vice President during negotiations with the Iranian team in Switzerland. Trump threatened more strikes, leading to the Iranian delegation walking out before being persuaded by Pakistani and Qatari mediators to return and sign a Memorandum of Understanding.
The US has also refused to release $12 billion worth of Iranian assets, citing plans to use them to buy American wheat and corn, which Tehran rejected. Iran alleges that the US breached the spirit of the agreement by pressuring Oman to create a separate shipping channel in the Strait of Hormuz, violating the MoU's terms.
The Trump administration has proposed levying a 20% fee on ships transiting the Strait under its protection, which would significantly increase oil costs. This move is seen as a way for the US to profit from the war, with the president saying that Gulf states could 'reimburse' the US for providing security.
The Pentagon estimates that war costs $2 billion per day, including inventory replacement at outdated prices. The Trump administration has also increased its defense budget by 44% to $1.5 trillion, which will benefit defence contractors.