New Iranian Leader Threatens U.S. Bases, Vows to Keep Oil Route Blocked

Thursday, March 12, 2026 at 10:23 AM

Iran's new Supreme Leader Mojtaba Khamenei delivered his first public statement Thursday, promising retaliation and maintaining the closure of a critical oil shipping route. The remarks come as tanker attacks escalate in the Gulf region amid ongoing conflict between the U.S. and Iran.

Iran’s newly appointed Supreme Leader Mojtaba Khamenei issued his inaugural public statement Thursday, declaring his nation will seek revenge for fallen fighters and continue blocking a vital oil shipping channel while targeting American military installations overseas.

The combative message, broadcast on Iranian state television, marked Khamenei’s first public comments after taking over following his father’s death. He demanded the United States shut down all regional military facilities and said Iran would maintain its blockade of the Strait of Hormuz to apply pressure on adversaries.

The waterway, located along Iran’s coastline, handles approximately 20% of global oil shipments, making it one of the world’s most strategically important maritime routes.

Thursday witnessed intensified maritime violence as two oil tankers caught fire at an Iraqi port following what authorities described as attacks by Iranian explosive boats. The incidents represent an escalation in assaults that have severely disrupted Middle Eastern oil exports, contradicting President Donald Trump’s assertions of victory in the military campaign he initiated two weeks prior.

Reuters confirmed footage captured from Basra port’s shoreline showing vessels consumed by enormous orange flames illuminating the darkness. Iraqi officials attributed the strikes to Iranian naval forces, with at least one crew member losing their life in the attacks.

Earlier that day, three additional ships suffered damage in Gulf waters. Iran’s Revolutionary Guards took credit for striking a Thai cargo vessel that subsequently burned, claiming the ship had ignored their directives. A container ship also reported being hit by an unidentified projectile near the United Arab Emirates.

The military confrontation, which commenced with coordinated U.S.-Israeli bombing operations in late February, has claimed roughly 2,000 lives and created what the International Energy Agency characterizes as history’s most severe global energy supply crisis.

Despite American and Israeli assertions of successfully eliminating much of Iran’s long-distance weaponry, additional drones were spotted Thursday entering airspace over Kuwait, Iraq, the UAE, Bahrain and Oman.

Lebanon’s Iranian-supported Hezbollah organization launched its largest rocket barrage into Israel since hostilities began, triggering retaliatory Israeli airstrikes on Beirut.

Crude oil prices jumped back beyond $100 per barrel after declining earlier in the week when Trump predicted a swift conclusion to the conflict. Iranian officials have stated they will prevent oil transit through the Strait of Hormuz until American and Israeli military operations end.

Trump has made multiple attempts this week to reassure energy markets by suggesting the price spike will be temporary.

However, the president has not outlined how the conflict will conclude or presented strategies for reopening the blocked shipping lane. American and Israeli representatives say their objective involves dismantling Iran’s missile and nuclear capabilities, though Trump has also called for Iran’s “unconditional surrender” and claimed authority to choose its leadership.

“You never like to say too early you won. We won,” Trump declared at a rally-style event in Hebron, Kentucky, Wednesday evening. “In the first hour it was over.”

Trump claimed America had “virtually destroyed Iran” but added: “We don’t want to leave early, do we? We got to finish the job.”

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