Iran’s security chief Ali Larijani issued on Tuesday a veiled threat to US President Donald Trump, warning him to be careful “not to be eliminated” and saying the Islamic republic was not afraid of his “empty threats.” “Iran is not afraid of your empty threats.
Even those greater than you could not eliminate the Iranian nation,” said Larijani in a post on X. His remarks came in response to a post by Trump threatening to hit Iran harder if it stops the oil flow through the strategic Strait of Hormuz. “Take care of yourself not to be eliminated!” Larijani added.In a post on Truth Social, Trump had said: “If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit by us thus far.” On February 28, the US and Israel launched strikes against Iran that killed its supreme leader Ayatollah Ali Khamenei and triggered a war that has spread across the Middle East. Iran has responded with drone and missile strikes targeting Israel and countries across the region. Shipping traffic through the Strait of Hormuz, through which nearly 20 per cent of the world’s crude oil usually transits, has been severely disrupted. Iranian forces have threatened to block “the export of a single litre of oil from the region” to allies of the United States and Israel as long as the war continues.Oil prices sank and equities rallied on Tuesday following a wild day of swings that came after President Donald Trump signalled that the US-Israel war on Iran could end sooner than thought.
The Paris and London stock markets gained around two per cent, as European gas prices sank 15 per cent, helping ease concerns over a renewed surge for global inflation. Frankfurt jumped 2.6 per cent in midday deals.International oil benchmark, Brent North Sea crude, plunged more than seven per cent to around $92 a barrel, a day after nearing $120.
“This downward swing in oil helped US stocks stage an impressive comeback on Monday to trade in positive territory – a trend which continued in Asia and is now being repeated in Europe,” noted AJ Bell investment director Russ Mould. Asian stock markets rallied, with Seoul up more than five per cent and Tokyo ending with a gain of 2.9 per cent.There were advances in Hong Kong, Shanghai, Sydney, Singapore, Bangkok, Mumbai, Taipei, Manila and Jakarta. “This is still a fluid market, and if the headlines deteriorate, or the war escalates, then we could see prices reverse once again,” said Kathleen Brooks, research director at trading group XTB. As the crisis in the crude-rich Middle East entered its second week,
Trump said the campaign was far ahead of his initial timeline of around a month.Iran responded by vowing to block Gulf oil exports and asserting that they, not the US, would “determine the end of the war”. Still, Trump’s remarks helped reverse the previous day’s spike in oil prices, which had surged since Iranian attacks on shipping closed the strategic Strait of Hormuz in response to the US-Israeli strikes that killed its supreme leader.
The US president also said he would temporarily waive some oil-related sanctions, after acknowledging talks with his Russian counterpart Vladimir Putin. Investors’ attention focused on the Strait of Hormuz, through which nearly 20 per cent of the world’s crude oil usually transits from the Gulf to world markets. About 10 vessels in or near the strait have come under attack since Iran all but blocked the strait in retaliation for the US-Israeli strikes, according to shipping experts. President Emmanuel Macron has said France and its allies are working on a “purely defensive” mission to reopen the strait, aiming to escort ships “after the end of the hottest phase of the conflict”.US and Israeli strikes have hit an airport in southern Iran, damaging part of the site as well as aircraft, local media reported on Tuesday. “Following an American-Zionist attack on Kerman Airport, part of it was damaged and two old, out-of-service aircraft were hit,” Iran’s Tasnim news agency said, quoting a statement from the governor’s office in the southern province of Kerman. It is not clear whether there are any military facilities at or near the site. — AFP
