Tensions in the Persian Gulf soared this weekend after Iran announced that the Strait of Hormuz—responsible for nearly one-fifth of the world’s oil trade—would be “completely closed” if President Donald Trump makes good on threats to strike Iranian power plants. The threat came as the clock ticked down on Trump’s 48-hour ultimatum, demanding Tehran reopen the strategic waterway or face military action.
Over the weekend, Trump declared the US would “obliterate” Iran’s power plants if the strait was not reopened by Monday evening, 7:44 p.m. Iran’s response was swift and severe. Iranian parliament speaker Mohammad Bagher Qalibaf took to X, warning that any attack on Iran’s energy infrastructure would trigger “irreversible” destruction of critical infrastructure across the region—not only in Iran, but also in Gulf nations and Israel. “Vital infrastructure, including energy and desalination facilities critical for drinking water in Gulf nations, would be considered legitimate targets and irreversibly destroyed,” Qalibaf said.
Strait of Hormuz: A Global Chokepoint
The Strait of Hormuz is no ordinary shipping lane. About 20% of global oil exports pass through its narrow waters, making any closure a nightmare scenario for world energy markets. Asian stocks fell on Monday as oil prices surged, with the International Energy Agency warning that the current energy crisis is “worse than the two consecutive oil crises in 1973 and 1979.” The agency’s executive director called the situation “very severe,” highlighting the global economy’s vulnerability as diplomatic efforts teeter between escalation and resolution.
Iran’s Islamic Revolutionary Guard Corps (IRGC) echoed the government’s stance, stating it was ready to indefinitely shut the strait if US strikes began. The IRGC also warned that companies with US shares and energy facilities in countries hosting American bases would be “completely destroyed.” Israel’s energy and communications infrastructure were named as potential targets, further heightening regional anxiety.
Temporary Reprieve Amid High-Stakes Talks
In a late development Monday, President Trump announced a five-day postponement of any military action, citing “in-depth, detailed, and constructive conversations” underway. But he made it clear the pause was conditional, saying it would depend on the outcome of ongoing talks.
For now, the world holds its breath. But with both sides doubling down, and the global economy already feeling the pressure, the standoff over the Strait of Hormuz remains one of the most dangerous flashpoints of 2026.
