Iran's new supreme leader vows to block Strait of Hormuz in first statement

March 12, 2026

Iran's new Supreme Leader Mojtaba Khamenei, who assumed power after his father was killed in a US-Israeli strike that also took the lives of his wife and son, has announced through state television that Iran will maintain its blockade of the Strait of Hormuz, a critical waterway that typically handles one-fifth of global oil shipments. In his first public statement since taking office on March 8th, Khamenei pledged to seek revenge for Iranian casualties and demanded that neighboring nations shut down American military installations on their territory. The ongoing blockade and Iranian attacks on oil tankers have caused oil prices to surge dramatically, with Tehran warning prices could reach $200 per barrel.

Who is affected

Mojtaba Khamenei (lost his father, wife, son, and possibly mother in US-Israeli strike; reportedly lightly injured)
Iranians killed in the war with the US and Israel
Children at the Minab school in southern Iran (struck by US forces)
Global oil markets and consumers (facing highest supply disruption in history)
Neighboring countries hosting US military bases
US, Israel, and their partners (targeted for oil tanker attacks)
Oil tankers and shipping companies operating in the Gulf region

What action is being taken

Iran is blocking the Strait of Hormuz
Iran is targeting US bases in the region
Iran is conducting strikes on oil tankers in the Gulf
Israel is launching new waves of strikes on Tehran
US investigators are examining the school strike incident

Why it matters

This crisis represents the largest supply disruption in oil market history, threatening global energy security and economic stability as oil prices soar toward potentially unprecedented levels. The blockade of the Strait of Hormuz, which normally handles one-fifth of the world's oil supply, creates a critical chokepoint that affects energy prices and availability worldwide. The escalating conflict between Iran and the US-Israel alliance, combined with Iran's threats against neighboring countries hosting American bases, risks expanding into a broader regional war with severe humanitarian and economic consequences.

What's next

Iran will continue blocking the Strait of Hormuz
Iran will continue targeting US bases in the region
Neighboring countries are expected to "clarify their stance" and are advised to "close those bases as soon as possible"

Read full article from source: BBC