Overview
- U.S. forces launched large-scale strikes on Iranian air-defence sites, radars, anti-ship missile positions and more than 60 IRGC small boats after three commercial vessels were hit, officials said Wednesday.
- The Treasury revoked the general licence that had allowed limited Iranian oil sales under the June 17 memorandum of understanding, effectively reimposing a key layer of U.S. sanctions.
- Iran responded with strikes it said targeted U.S. military installations and Gulf states reported intercepting missiles and drones, with Kuwait saying it shot down ballistic missiles and multiple drones.
- The Joint Maritime Information Center raised the transit threat for the Strait of Hormuz to “severe,” shipping traffic fell well below pre-war levels and Brent and U.S. crude jumped roughly 5–6% on the escalation.
- Diplomatic efforts led by Qatar and Pakistan are under strain as the interim MoU’s performance-based concessions unravel, and control of the Hormuz corridor — which previously funneled about one-fifth of traded oil and gas — remains the central strategic lever.