Iran has declared it is prepared for a prolonged war of attrition that could severely damage the global economy, as tensions escalate in the Middle East following attacks involving the United States and Israel.
Iranian officials made the warning on Wednesday after the country’s forces reportedly fired on two commercial vessels and threatened ships linked to the United States or its allies operating in the region.
The development comes as Tehran tightens control over the Strait of Hormuz, a crucial maritime route through which roughly 20 percent of global oil and liquefied natural gas shipments passed.
Ali Fadavi, an adviser to the commander-in-chief of the Islamic Revolutionary Guard Corps, warned that the conflict could have devastating economic consequences.
He said the United States and Israel should prepare for a prolonged confrontation.
“The United States and Israel must consider the possibility that they will be engaged in a long-term war of attrition that will destroy the entire American economy and the world economy,” Fadavi said on Iranian state television.
Ships Targeted in Strait of Hormuz
Iran confirmed that it had struck two vessels — the Liberian-flagged container ship Express Rome and the Thai bulk carrier Mayuree Naree — after accusing them of ignoring warnings issued by Iranian naval forces.
Rescue teams from Oman evacuated 20 crew members, while search efforts were ongoing for three others believed to be trapped aboard one of the ships.
Images released by the Royal Thai Navy showed thick black smoke rising from the damaged vessel.
Oil Prices Surge
Global oil prices have surged sharply since February 28, when the United States and Israel launched military strikes against Iran that killed its supreme leader, Ali Khamenei, triggering a wider regional conflict.
In response to rising prices, the International Energy Agency announced that member countries would release 400 million barrels of oil from strategic reserves, the largest coordinated release in history.
The economic fallout from the war has intensified as Iran expands attacks against targets linked to U.S. allies in the Gulf region.
Authorities in Dubai, United Arab Emirates, reported that drones fell near Dubai International Airport, injuring four people.
Drone strikes also hit fuel storage tanks at the Salalah Port in Oman, forcing the suspension of port operations.
Meanwhile, several multinational firms, including Citigroup and Deloitte, have reportedly begun evacuating employees from Dubai due to security concerns.
World leaders have raised alarm over the situation in the Strait of Hormuz, which is vital for global energy supply and also transports a large share of fertilisers used in food production.
President Emmanuel Macron of France urged leaders of the Group of Seven nations to act quickly to restore safe navigation in the strait.
The United Nations also called on all parties to allow humanitarian cargo to pass safely through the waterway.
Despite the escalating violence, U.S. President Donald Trump said the conflict could end soon, claiming there were limited targets left for American forces to strike in Iran.
“Any time I want it to end, it will end,” Trump said in an interview, while also warning that U.S. forces could destroy key Iranian infrastructure if the war continued.
The conflict has also spread to Lebanon, where Israel Defense Forces launched new strikes against positions linked to Hezbollah in Beirut.
An Israeli airstrike hit a residential building in central Beirut, causing extensive damage and triggering a large explosion that was captured in live television footage.
Witnesses said the blast destroyed parts of the building and damaged nearby vehicles.
According to Iran’s health ministry, more than 1,200 people have been killed and over 10,000 civilians injured in U.S. and Israeli strikes since the conflict began.
The war was triggered by an initial attack that killed Iran’s supreme leader Ali Khamenei, whose son Mojtaba Khamenei has since been named his successor.
However, Mojtaba Khamenei has not appeared publicly since his appointment amid reports that he may have been wounded in the same strike that killed his father.
The crisis has raised fears of a prolonged conflict that could destabilise global energy markets and deepen economic uncertainty worldwide.
