Summary
Iran vows regional and US infrastructure will be "irreversibly destroyed" in response to Trump's 48-hour timeline to open Hormuz or else Iranian power plants will be obliterated.
Iran announces imposition a $2 million transit fee on 'non-enemy' ships wishing to transit strait.
Unprecedented damage and many dozens of casualties in Israel's south after tit-for-tat strikes on areas with nuclear plants.
Reports of US prepping diplomatic offramp plan but Iran says expanding war has effectively shut the door; Bessent says "50 days" of higher prices for 50 years of no Iran nukes, and "escalate to de-escalate."
Scott Bessent said US-Israeli strikes are focused on weakening Iran's fortified positions along the Strait of Hormuz as Donald Trump presses a deadline for Tehran to "fully open, without threat" the critical global shipping waterway. He stated the US will "take whatever steps it takes" to eliminate Iran's military capabilities, including its ability to project power abroad; however, it remains to be seen just how degraded Iran's missile program is.
"There has been a campaign… to soften up the Iranian fortifications… that's going to continue until they are completely demolished… Sometimes you have to escalate to de-escalate," he asserted.
As the conflict enters its fourth week, and amid rising oil and gasoline prices which have intensified economic pressure at home, Bessent framed the surge as a temporary cost tied to a longer-term greater objective, stating: "Let’s just pick 50 days of temporary elevated prices… Prices will come off on the other side for 50 years of not having an Iranian regime with a nuclear weapon." But then the usual more open-ended caveats: "I don’t know whether it’s going to be 50 days. I don’t know whether it’s going to be a hundred days." As the US keeps going up the escalation ladder with Iran, will it be able to come down?
As a reminder here's what President Trump threatened Saturday - so the clock is ticking - assuming he's ready to make good on the promise: "If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!" Trump wrote.
Iran has responded with its own vow of escalation in response. In a post on X, Iran's parliament speaker Mohammad Baqer Qalibaf warned that critical infrastructure and energy facilities across the Middle East will be "irreversibly destroyed" if Iranian power plants are attacked. He wrote:
"Immediately after the power plants and infrastructure in our country are targeted, the critical infrastructure, energy infrastructure, and oil facilities throughout the region will be considered legitimate targets and will be destroyed in an irreversible manner, and the price of oil will remain high for a long time."
By now it's clear that Iran's approach to the Strait of Hormuz has been to only allow select countries while targeting others' shipping and reportedly mining the waterway. An Iranian official said the strait is open to all vessels except those from "enemy" countries.
Iran state TV has further announced the imposition a $2 million transit fee on ships, with a senior lawmaker stating: "We have established a new regime governing the Strait after 47 years… We have to fund the war."
Antonio Guterres stated the UN is prepared to help reopen the strait, along with some Gulf countries - but there's still nothing in the way of any level of a practical military plan in place, given the obvious extreme risks.
The US is still considering plans to seize or blockade Kharg Island, which would be another massive escalation which some analysts have deemed 'suicidal' in terms of warships or any Marines sent that deep into Persian Gulf and strait waters.
US and Israeli forces continued strikes across Iran, including in Tehran, Karaj, Isfahan, Natanz, and Ramsar - while as we've been reporting, Iran's Atomic Energy Organization said the Natanz nuclear site was targeted in "criminal attacks."
This in turn resulted in Iran targeting Dimona and Arad for the first time of the war, causing roughly 100 injuries. The conflict has just entered week four and already they are trading strikes on nuclear plants. Central Israel has continued getting hit hard, with Iranian cluster munitions spreading bomblets across Tel Aviv and nearby areas. Fifteen people were injured there, one seriously. Additional impacts damaged residential areas in Jaffa and Petah Tikva.
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