Iran's Supreme Leader Ayatollah Mojtaba Khamenei stated on Thursday that the Islamic Republic will protect its nuclear and missile capabilities as national assets, even as U.S. President Donald Trump seeks a deal on these issues. In a written statement read on Iranian state television, Khamenei spoke for the first time since assuming leadership after the Feb. 28 airstrike that killed his 86-year-old father, Ayatollah Ali Khamenei.
Khamenei's Statement on National Assets
Khamenei said that 90 million proud and honorable Iranians inside and outside the country regard all of the nation's identity-based, spiritual, human, scientific, industrial, and technological capacities as national assets, and will protect them just as they protect the country's waters, land, and airspace.
Strait of Hormuz Standoff
With a fragile ceasefire in place, the U.S. and Iran are locked in a standoff over the Strait of Hormuz. The U.S. blockade aims to prevent Iran from selling oil, depriving it of crucial revenue while potentially forcing Tehran to shut down production due to storage constraints. The strait's closure has put pressure on Trump, as oil and gasoline prices have skyrocketed ahead of crucial midterm elections, and it has pressured his Gulf allies, which rely on the waterway for oil and gas exports.
Brent Crude Surges Over $120
The price of Brent crude oil briefly surged past $126 a barrel early Thursday amid stalled U.S.-Iran talks. Brent crude for June delivery jumped 3.3% to $121.90 after briefly soaring past $126 per barrel. July delivery rose 1.4% to $112.02. Benchmark U.S. crude climbed 1.3% to $108.28 per barrel. Before the war began in late February, Brent crude was trading around $70 per barrel.
Hegseth Faces Senate Grilling
U.S. Defence Secretary Pete Hegseth faced a second day of grilling from Democrats on Capitol Hill. Senators had their first opportunity on Thursday to confront or praise the Pentagon chief over his handling of the Iran war. Hegseth battled with Democrats and some Republicans during a nearly six-hour House Armed Services Committee hearing the day before, facing sharp questioning over the war's costs in dollars, lives, and diminishing stockpiles of critical weapons.
The Senate Armed Services Committee heard a similar presentation on the Trump administration's 2027 military budget proposal, which would boost defence spending to a historic $1.5 trillion. Hegseth and the chairman of the Joint Chiefs of Staff, Gen. Dan Caine, stressed the need for more drones, missile defence systems, and warships. They also faced tough questions about American troop levels in Europe after Trump levelled a new threat against NATO ally Germany, suggesting he could reduce the U.S. military presence there as he feuds with Chancellor Friedrich Merz over the Iran war.
Khamenei's Threat to Americans
On Thursday, Khamenei said the only place Americans belong in the Persian Gulf is at the bottom of its waters, as the Strait of Hormuz remains in Tehran's chokehold. He stated, "By God's help and power, the bright future of the Persian Gulf region will be a future without America, one serving the progress, comfort and prosperity of its people." He added, "We and our neighbours across the waters of the Persian Gulf and the Gulf of Oman share a common destiny. Foreigners who come from thousands of kilometres away to act with greed and malice there have no place in it — except at the bottom of its waters."
