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Iran Warns of Global Energy Rate Shift with Potential Attack on Kharg Island

Tehran: Iran warned early Monday that any attack on Kharg Island's oil infrastructure would significantly impact global energy markets. Alireza Tangsiri, commander of the Islamic Revolutionary Guard Corps (IRGC) Navy, expressed concerns via the US-based social media platform X, stating that targeting the infrastructure would alter global oil price dynamics. "You tested Iran once with the Strait of Hormuz," Tangsiri noted, emphasizing that an attack on Kharg Island would create a dangerous and unprecedented shift in global energy rates and distribution.

According to Anadolu Agency, US President Donald Trump announced on Friday that the US had destroyed all military targets on Kharg Island. He further threatened to attack the island's oil infrastructure if Iran continued its blockade of ships in the Strait of Hormuz. Kharg Island, handling 90%-95% of Iran's crude exports, is a pivotal component of the nation's energy system and a critical source of government revenue. In 2025, the island managed an average of 1.54 million to 1.7 million barrels per day.

Iran has effectively closed the Strait of Hormuz since March 1, following joint attacks by Israel and the US on February 28, which resulted in the death of around 1,300 individuals, including then-Supreme Leader Ayatollah Ali Khamenei. The hostilities have since escalated, with Iran retaliating through drone and missile strikes targeting Israel, as well as Jordan, Iraq, and Gulf countries. These actions, aimed at US military assets, have led to casualties, damage to civilian infrastructure, and disruptions affecting global markets and aviation.