Overview
- Coordinated Iranian missile and drone strikes struck Kuwait, Bahrain and Jordan and targeted vessels passing through the Strait of Hormuz, including the Saudi tanker Wadiyan and the Qatari tanker Al Rekayyat, in incidents that endangered crews and maritime traffic.
- The Gulf Cooperation Council issued a unified condemnation, held Iran fully responsible and invoked Article 51 of the UN Charter to affirm members’ rights to individual and collective self-defense.
- The GCC urged the United Nations Security Council to condemn the attacks and to take measures to guarantee freedom of navigation and the safe reopening of the Strait of Hormuz.
- Markets reacted quickly as traders priced in higher supply risk: crude oil rose on worries about Gulf flows while Bitcoin and other major digital assets came under selling pressure.
- Analysts note Iran’s sizable cryptocurrency ecosystem—estimated at more than $7.8 billion in 2025—can be used for sanctions evasion and household hedging during crises, though GCC statements focused on conventional legal and security measures.