Donald Trump is trying to use the U.S. Navy to free up shipping in the Strait of Hormuz, triggering the biggest escalation of the war since a ceasefire was announced on April 8. On Monday, Tehran attacked several ships in the Strait of Hormuz and the United Arab Emirates. Concerns about the escalation of the conflict in the Middle East are returning to the market.
The United Arab Emirates Defense Ministry said it intercepted 12 ballistic missiles, three cruise missiles and four drones launched from Iran on Monday. These were the first Iranian attacks on the United Arab Emirates in almost a month.
See also: Tension is growing in the Strait of Hormuz. The US appeals to China
Iran attack on the United Arab Emirates
The United Arab Emirates reported a fire in the oil industry zone in Fujairah following an Iranian drone attack. Fujairah lies outside the Strait of Hormuz and allows the UAE to export crude oil during its war with Iran.
The UAE said the Iranian attacks represent a serious escalation and reserves the right to respond.
Oil price
On Monday evening, oil prices rose, and the main stock indices overseas ended the session in the red. Price of June oil futures Brent grows by 5 percent up to $114 per barrel.
Monday's session on Wall Street ended with declines in the main indices as concerns about the renewed escalation of the conflict in the Middle East returned to the market. Crude oil prices are rising significantly.
Iran had no planned attack on oil facilities in Fujairah in the United Arab Emirates, Iranian state broadcaster IRIB reported, citing a military official.
The military said what happened in the port of Fujairah was “the result of adventurous activities of the US military aimed at creating a passage for illegal ship transit” through the Strait of Hormuz.
The head of the European Commission, Ursula von der Leyen, said on Monday that Iran's new attacks on the United Arab Emirates are unacceptable and constitute a flagrant violation of that country's sovereignty and international law.
President Donald Trump warned Iran's armed forces on Monday that they would be “wiped off the face of the Earth” if they tried to attack American ships in the Strait of Hormuz or the Persian Gulf.
Trump said on Monday that the United States had shot down “seven little” Iranian boats after Tehran fired on several ships in the Strait of Hormuz.
He added that there was “no damage” to the Iranian attacks except to the South Korean ship.
“Iran has made several attempts to attack non-affiliated nations over shipping traffic, PROJECT FREEDOM, including a South Korean cargo ship. Perhaps it's time for South Korea to join the mission! We shot down seven small boats, or 'fast boats' as they call them. That's all they have left,” Trump said.
“Apart from the South Korean ship, there has been no damage while crossing the Strait so far,” Trump added.
Earlier on Monday, the commander of U.S. Central Command, Admiral Bradley Cooper, told reporters that the U.S. military had “blown up” six small Iranian boats in the Strait of Hormuz.
“Project Freedom” is an initiative aimed at supporting “merchant ships seeking free transit” through the strait, although it does not involve a formal military escort. According to a statement by the US Central Command, it includes guided missile destroyers, over 100 land- and sea-based aircraft, multi-domain unmanned platforms and 15,000 soldiers.
