Iran's New Supreme Leader Vows Revenge, Demands Strait of Hormuz Closure

Iran's new Supreme Leader, Mojtaba Khamenei, in his first public statement since succeeding his assassinated father, vowed revenge and insisted the Strait of Hormuz must remain closed as a "tool to pressure the enemy."

Key points

• Khamenei demanded the immediate closure of all U.S. military bases in the Middle East, warning they "will be attacked."
• Oil prices extended gains following the comments, with Iran stating the strait will not reopen until U.S. and Israeli attacks cease.
• The new leader also stated Iran will seek compensation from enemies or destroy their assets if they refuse.
• Mojtaba Khamenei was injured in the attack that killed his father, Ayatollah Ali Khamenei, in late February U.S.-Israeli air strikes.
• Two tankers were ablaze in an Iraqi port following suspected Iranian explosive-laden boat attacks, escalating maritime conflict.

Why it matters

The statements from Iran's new hardline leader signal continued escalation in the conflict with the U.S. and Israel, directly impacting global energy supplies via the critical Strait of Hormuz.