Former U.S. President Donald Trump has threatened military action against Iran if it fails to reopen the Strait of Hormuz within 48 hours.
“If Iran doesn’t fully open, without threat, the Strait of Hormuz within 48 hours from this exact point in time, the United States of America will hit and obliterate their various power plants, starting with the biggest one first,” Trump said in a social media post published at 23:44 GMT on Saturday.
The warning followed Iranian missile strikes on the Israeli city of Dimona, and came shortly before a second attack on the nearby town of Arad.
Iranian Parliament Speaker, Mohammad Bagher Ghalibaf, responded on Sunday, warning that energy and desalination infrastructure in the region would be “irreversibly destroyed” if Iran’s power plants were targeted.
Any such escalation would further strain global energy supplies, which have already been disrupted, driving up prices and triggering fuel shortages.
Asian markets also reacted negatively on Monday. Hong Kong’s Hang Seng Index fell by nearly 3.5%, while the Shanghai Composite Index dropped about 2.5%.
Meanwhile, global oil prices remained relatively stable. Brent crude rose by 0.45% to $112.69 (£84.56) per barrel, while U.S. benchmark crude gained 0.7% to $98.93.
BBC/Taiwo Akinola
