(Bloomberg) — Iran carried out fresh strikes across the Persian Gulf hours before US President Donald Trump’s deadline to reopen the Strait of Hormuz expires, as the waterway’s closure continues to rattle global energy markets.
The United Arab Emirates reported drone and missile attacks by the Islamic Republic overnight into Monday. Israel launched a wave of airstrikes on infrastructure in Tehran and said it’s preparing to expand ground operations in Lebanon, where it’s fighting Iran-aligned Hezbollah.
Trump’s 48-hour ultimatum to “fully open” the vital strait — a conduit for about a fifth of global oil and liquefied natural gas exports — expires at 7:44 p.m. eastern time on Monday, after which he’s threatened strikes on Iran’s power plants.
Should such an attack occur, Iran has threatened to hit power and water plants across the region. One senior Iranian official said on social media that the headquarters and assets of financial entities that buy US Treasury bonds are “legitimate targets.”