Iran hostilities flare after US strike in strait of Hormuz; supertanker hits mines and catches fire – Middle East crisis live

US targets Iran’s Larak Island in first exchange of fire in more than a month, sparking reprisals against US forces in the region US strikes Iranian launchers in strait of Hormuz, prompting Iranian retaliatory attacks In making the sanctions threat last Monday, the US treasury secretary, Scott Bessent, announced an initial set of sanctions on 60 individuals, entities and vessels for alleged involvement in trade with Iran, but there were no Chinese financial institutions on the list, despite their involvement in financing the Iranian oil trade. The omission reflected US caution. Asked why the Trump administration had not declared immediate sanctions and had stopped short of naming potential sanctions targets, Bessent replied: “Why would I want to blow up the global financial system?” Continue reading...