America produces 1,200 new millionaires daily... Record wealth deepens income gap
The United States continues to solidify its position as the world's largest wealth generator, as its economy sees thousands of people join the ranks of the rich annually.
The United States launched new strikes on Iran overnight aimed at weakening its control over the Strait of Hormuz, while Iran's Revolutionary Guard responded on Thursday, announcing attacks on American bases in Kuwait and Bahrain.
Tehran insists it has the right to impose fees on ships in the Strait of Hormuz, a demand Washington rejects, and it threatens vessels that take a route other than the single one it has designated along its coast. On Tuesday, it targeted at least three commercial ships, according to the US military, as reported by AFP.
US President Donald Trump said in a post on Truth Social: 'This is retaliation for the strikes Iran carried out against ships yesterday. If it happens again, it will get much worse!'
The US military said in a post on X that it targeted about 90 Iranian military objectives, including air defense systems, coastal surveillance facilities, and missile and drone storage sites on Iran's southern coast.
It explained that the aim of the strikes was to 'further undermine Iran's ability to attack commercial shipping and innocent civilian mariners in the Strait of Hormuz.'
Iranian state media reported hearing explosions in the cities of Bandar Abbas (south), Konarak (east), and Chabahar (east).
In Bushehr (southwest), home to Iran's only civilian nuclear plant, a military base was bombed, according to a local official. A railway bridge in Golestan province in northern Iran was also targeted, several media outlets reported.
In Khuzestan province (west), three people were killed and others injured in the US strikes, according to local authorities.
The US strikes also suspended rail service between the capital Tehran and the northeastern city of Mashhad, state television reported.
In response to the strikes, Iran's Revolutionary Guard announced missile and drone attacks on the US bases of Arifjan and Ali Al Salem in Kuwait, and the bases of Al Jafir and Sheikh Isa in Bahrain. It also threatened to expand retaliation to other bases in the region if Washington carries out new strikes, according to a statement aired on state television.
In Kuwait, the army said it intercepted missiles and drones, while in Bahrain, several explosions were heard and air raid sirens were sounded twice.
In Qatar, residents also received a brief security alert.
Amid the major escalation, Iranian Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf said the Strait of Hormuz will only be opened under 'Iranian arrangements.'
He added in a post on X: 'The United States has not yet learned that intimidation and broken promises no longer go unpunished,' adding, 'Let me be clear: if you strike, you will be struck.'
America has not yet learned that bullying and bad faith are no longer cost-free. Let me be clear: strike, and you will be hit. Don't flail about uselessly or you will sink deeper: The Strait of Hormuz will only be opened with 'Iranian arrangements,' not American threats.
— Mohammad Bagher Ghalibaf | MB Ghalibaf (@mb_ghalibaf) July 9, 2026
Legitimate Target
On Wednesday, Donald Trump had considered that the ceasefire agreement was no longer valid after the exchange of strikes. But he also affirmed that the new clashes would stop quickly, leaving the door open for continued diplomatic negotiations with Tehran.
On Wednesday evening, upon returning from the NATO summit in Turkey, he said the Iranians 'called a short while ago' and 'are very eager to reach an agreement.'
0 seconds of 0 secondsVolume 90%
Press shift question mark to access a list of keyboard shortcuts
00:00
00:00
00:00
While Trump did not provide further details, he questioned the feasibility of any potential agreement between the two sides, describing the Iranians as 'a little crazy.'
Washington had responded to attacks attributed to Tehran on three commercial ships with strikes inside Iran overnight Tuesday into Wednesday, according to the US military. Iranian state television reported the killing of eight Iranian military personnel. Tehran later retaliated by announcing attacks on facilities inside US military bases in Kuwait and Bahrain.
0 seconds of 0 secondsVolume 90%
Press shift question mark to access a list of keyboard shortcuts
00:00
00:00
00:00
Both Qatar and Pakistan called for respect of the memorandum of understanding signed on June 17 under their mediation, and for de-escalation.
The exchange of strikes led to a rise in oil prices on Wednesday, with Brent crude surging more than 7%. The increase continued on Thursday in Asia, gaining over 1% to reach $78.85 per barrel.
On Tuesday, Washington reimposed sanctions on Iranian oil after they had been lifted under the memorandum of understanding.
This new escalation coincides with the funeral ceremonies for Supreme Leader Ali Khamenei, who was killed on the first day of the war, with burial scheduled for Thursday in the northeastern city of Mashhad.
Original source: Asharq Al-Awsat
Comments (0)
Be the first to comment.