Berliner Boersenzeitung - Iran's supreme leader defies US blockade as oil prices soar

Oil prices hit a four-year high then fell back slightly, before Mojtaba Khamenei issued a written statement that was read out on state television declaring that Iran was now in the driver's seat in the crisis.

"Today, two months after the largest military deployment and aggression by the world's bullies in the region, and the United States' disgraceful defeat in its plans, a new chapter is unfolding for the Persian Gulf and the Strait of Hormuz," he said, hailing Iran's control over shipping in the strait.

Khamenei was wounded in the initial US-Israeli strikes that killed his father Ali Khamenei, and has not been seen in public since being named his successor as supreme leader on March 9.

The United States imposed a blockade on Iran's ports two weeks ago, while the Islamic republic has maintained its stranglehold over the strategic Strait of Hormuz since the start of the Middle East war in February.

"Any attempt to impose a maritime blockade or restrictions is contrary to international law... and is doomed to fail," Iran's President Masoud Pezeshkian said, in a statement that warned the blockade that began on April 13 would be "a disruption to lasting stability in the Persian Gulf".

- 'Choking' -

Trump is expected to receive a briefing on Thursday on new plans for potential military action in Iran from Admiral Brad Cooper, the head of US Central Command, two sources with knowledge of US planning told news platform Axios.

This week Trump has reportedly told oil executives and national security officials to prepare for a long US blockade designed to force Tehran to surrender its nuclear programme, and, speaking to Axios, said: "They are choking like a stuffed pig. And it is going to be worse for them."

US Central Command said Wednesday in a social media post that it had reached a "significant milestone after successfully redirecting the 42nd commercial vessel attempting to violate the blockade".

It said there are "41 tankers with 69 million barrels of oil that the Iranian regime can't sell", estimating the value at more than $6 billion.

Oil prices struck a four-year high on Thursday. International benchmark Brent crude soared more than seven percent to $126 a barrel, but then eased in midday trading in London.

"The world is facing the biggest energy crisis in history," International Energy Agency chief Fatih Birol said at a high-level meeting on the energy transition at IEA headquarters in Paris, adding that oil prices were "putting a lot of pressure in many countries".

Trump faces domestic political pressure to end the war, which is unpopular even with much of his base, has increased costs for American consumers and has unnerved US allies.

Iran's economy is also suffering and the rial has fallen to historic lows against the dollar.

Iran has sought to extract a price for being attacked by exerting control over the Strait of Hormuz, the narrow waterway through which about one-fifth of global oil typically transits.

Top US officials, including Vice President JD Vance, twice turned back last week from trips to Pakistan to negotiate with Iran.

US officials contend they do not know who is speaking for Iran, whether it is the hardline and increasingly empowered Revolutionary Guards or diplomats, after Israeli strikes killed a series of top leaders.

Iran's leaders have, however, sought to present a united front, sometimes even posting the same message simultaneously on social media.

- 'Heartbreaking' -

Tehran residents speaking to AFP journalists in Paris reported a sense of despair that the Islamic republic government was clinging to power and the negotiations have stalled.

Huge crowds of flag-waving government supporters gathered Wednesday in the capital for street protests, while the ceasefire has allowed a return to nightlife for young residents who thronged elegant cafes, despite the uncertainty.

"It's a heartbreaking situation. We had no control over either the previous war or the possibility of it starting again," one 28-year-old IT worker told AFP journalists in Paris via messaging app from the Iranian capital.

"Everything is so disappointing."

Iran proposed easing its chokehold over the Strait of Hormuz if Washington lifts its blockade and broader negotiations take place. But the Trump administration has insisted that Iran's nuclear programme be on the table.

Violence has continued on the war's Lebanese front, despite a recently extended ceasefire between Israel and Hezbollah, the Iran-backed armed group that drew Lebanon into the war by firing rockets at Israel. Israel responded with strikes and a ground invasion.

Israeli strikes on southern Lebanon killed nine people, among them two children and five women, the health ministry said Thursday, shortly after Lebanese President Joseph Aoun denounced what he called "continuing Israeli violations" of the nearly two-week-old ceasefire.

burs/dc/ser

(G.Gruner--BBZ)