Iran-US Talks: Warnings & Trump’s “Going Well” Claim

Iran signaled it would continue attacks against Israel and targets across the Gulf, despite international calls for de-escalation, while also issuing threats against Saudi Arabia and the United Arab Emirates. The escalating conflict has disrupted markets and raised concerns about a significant slowdown to the global economy.

Iran Vows Continued Attacks, Threatens Regional Targets

Accusing US-Israeli forces of using “human shields,” Iran’s Guards urged civilians to leave areas where American forces are stationed “so that no harm comes to you.” The Iranian military also threatened to target hotels housing US soldiers across the region.

Markets have been impacted by Iranian attacks on trade and energy targets in the Gulf, with Kuwait reporting damage to its main commercial port following a drone attack Friday. A top Iranian official threatened attacks on Saudi Arabia’s Red Sea port of Yanbu, home to the Samref oil refinery, and the Fujairah oil complex in the United Arab Emirates, should a ground invasion occur.

Vice President Esmael Saghab Esfahani wrote on X, stating that oil prices would rise to at least $150 a barrel if Iranian soil is invaded, and that the destruction of Fujairah and Yanbu would be “just our entry tickets.”

Iran’s Guards declared the Strait of Hormuz “closed” to vessels traveling to and from enemy ports, claiming to have turned back three ships attempting to cross.

Oil prices and stocks experienced mixed results after a delay in a previously issued ultimatum. The Bank of Spain warned the country faces a “significant slowdown” due to the ongoing conflict.

During G7 talks in France, US diplomat Marco Rubio faced questions from counterparts regarding American plans for Iran. UK foreign minister Yvette Cooper called for a “swift” resolution to the conflict and an end to Iran’s blockade of Hormuz, which she described as holding “the global economy hostage.”