The situation in the Middle East has escalated sharply in recent hours after the US military launched a third consecutive night of massive air strikes against targets inside Iran.
Tensions have reached a critical point in the strategic Strait of Hormuz, where a deadly incident involving commercial ships was recorded, and Washington and Tehran have launched an open diplomatic and economic war over the right to collect fees for passing through international waters. According to global news agencies as of 3:15 a.m. Bulgarian time on July 14, 2026, the conflict threatens to paralyze global energy supplies and has already caused a spike in crude oil prices.
A new wave of US strikes against Iran
The US Central Command (CENTCOM) has officially confirmed that, on the orders of President Donald Trump, a new wave of precision air strikes against Iranian territory has begun. According to the official statement of CENTCOM, the aim of the operation is to impose “heavy economic and military costs on Iranian forces“ and to neutralize their ability to attack commercial shipping.
Iranian state media reported powerful explosions in key coastal areas and strategic islands in the Persian Gulf, including:
The port city of Bandar Abbas Kish Island Qeshm Island Abu Musa Island Busher Province (Jam District)US President Donald Trump told the media that the US would hit Iran “very hard” and threatened to attack “Pickaxe Mountain“ a deeply buried underground site linked to Tehran's nuclear program near Natanz. At the same time, the White House officially notified the US Congress of the resumption of military action, opening a new 60-day window for conducting operations without explicit approval from lawmakers under the War Powers Act. The letter specifies that no ground forces were involved in the strikes.
In response, Iran launched retaliatory strikes with drones and missiles targeting US military infrastructure in Kuwait and Bahrain. The Iranian Revolutionary Guard Corps (IRGC) announced that it had hit Patriot air defense systems and fuel storage facilities at the US base “Ali Al Salem“ in Kuwait. Air raid sirens were sounded in Bahrain, where the US Fifth Fleet is based.
Indian citizen killed in missile attack in the strait
The conflict quickly spilled over to the sea. The United Arab Emirates (UAE) Ministry of Defense said that two of its national oil tankers — Mombasa and Al Bahiyah, were hit by Iranian cruise missiles while passing through the southern corridor of the Strait of Hormuz in Omani territorial waters.
The attack killed one crew member, an Indian citizen, who was on board the Mombasa tanker. Eight more sailors were injured, four of whom are in critical condition. According to UAE authorities, six Indian citizens and two Ukrainians are among the injured. The attack caused major fires on board the two vessels, which were later brought under control. Abu Dhabi strongly condemned the “brazen aggression“ and stressed that the UAE reserves its full right to respond to this escalation.
Tariff dispute: Trump demands 20%, Iran and UN react
An unprecedented international legal and financial case is unfolding in the background. President Donald Trump announced that the United States is resuming a full naval blockade of Iranian ports and proclaiming itself the official “guardian of the Strait of Hormuz“. As compensation for ensuring the safety of passing ships, Washington plans to impose a mandatory fee of 20% of the value of all cargo passing through the strait. According to energy experts, this would cost about $32 million per supertanker.
Tehran's reaction was not long in coming. Iranian Foreign Minister Abbas Araghchi posted a statement on the social media platform X, mocking Trump's proposal. Araghchi wrote that the US president was "absolutely right" that whoever guarantees security should be compensated, but added that Iran has always been and will remain "the only true guardian of the Strait of Hormuz forever." The Iranian diplomat dismissed the US rate of 20% as "absurdly high" and announced that Iran would impose its own, but "fair" fees for traffic management and environmental services. Tehran's military command warned neighboring countries that any logistical support for the US fleet would be considered a declaration of war.
The UN's International Maritime Organization (IMO) was quick to intervene in the dispute, stating that the collection of any transit fees or duties for passage through international straits is in direct violation of international law and the UN Convention on the Law of the Sea, which guarantees free and unimpeded navigation.
Economic consequences
Markets reacted quickly to the news of the failed peace agreement and renewed hostilities. The price of Brent crude oil jumped nearly 9.6% to $83.30 a barrel — its biggest one-day gain in six years. Analysts from major investment firms warn that if the strikes directly affect the oil infrastructure of Gulf producers, prices will quickly cross the $100 mark. Due to the complicated situation, shipping through the Strait of Hormuz (through which one-fifth of the world's oil exports pass) has decreased by more than 50% in the last three days alone.