The United States has now started targeting Iran’s most strategic economic asset, Kharg Island. Situated in the northern Persian Gulf, Kharg Island deals with 90% of Tehran’s oil export and President Donald Trump has characterised the attack as an attempt to pressure the Iranian administration to end the blockade of Strait of Hormuz.
Described by Trump as the “crown jewel” for Iran, a dozen targets were struck on Friday night by the US military on Kharg Island that likely led to a sharp rise in fuel prices in China. Retail gasoline and diesel saw their sharpest increases since March 2022 on Monday. Trump, in a new threat, said he might hit the Kharg Island again “just for fun.”
