DUBAI, United Arab Emirates (AP) — U.S. President Donald Trump said Thursday he has called off new military strikes on Iran, hours after threatening to escalate the war. Trump had threatened major strikes on Iran and to seize control of its oil and gas industries as escalating attacks between the countries pushed the Middle East closer to full-scale war. The threats to seize Iran’s Kharg Island oil terminal came after the U.S and Iran traded strikes for a second straight day. Trump told Fox News that while he would prefer to take over Kharg Island, he’s not sure that “America has the stomach for it.” Iran’s parliamentary speaker warned on social media that an “endless quagmire” could result.
Iran’s Kharg Island is key to its oil exports. Targeting it carries major risks
Iran’s Kharg Island is home to a terminal through which the country exports most of its oil. The Persian Gulf island has emerged as a focus of the war launched by the United States and Israel. Strikes on oil infrastructure on Kharg — or a ground invasion — would severely curb Iran’s oil exports, a key source of revenue for the Islamic Republic. An assault would also mark a major escalation that could provoke even heavier retaliatory attacks on Gulf infrastructure. That would further drive up oil prices that already threaten the world economy.
