Bitcoin and Asian markets dropped on Monday as Iran escalated threats to strike critical infrastructure in the Gulf. Crypto and the wider markets tumbled on Monday as the US and Iran escalated threats toward one another for the fourth week, sending oil prices seesawing. US President Donald Trump posted to Truth Social on Sunday that the US would “hit and obliterate” Iranian power plants, “starting with the biggest one first,” if the country didn’t open the Strait of Hormuz within 48 hours. Iran responded by saying it will answer any US strikes on its power or water infrastructure with attacks on US and Israeli assets in the Gulf and threatened to completely close the Strait, one of the world’s vital oil shipping lanes. Read more
• IDF ordered to destroy all bridges over Litani River • Key Qasmiyeh bridge near Tyre damaged in strikes • Lebanese President Joseph Aoun condemns attacks, calling them a ‘prelude to a ground invasion’ BEIRUT: The Israeli military on Sunday announced it was expanding its ground campaign in Lebanon, warning of a lengthy operation, after Beirut condemned what it called Israel’s flagrant violations of Lebanese sovereignty. Israel struck a main bridge linking Lebanon’s south to the rest of the country on Sunday after ordering its military to destroy all crossings over the Litani River and to step up the demolition of homes near the southern border. The destruction of bridges and homes marks a significant escalation in Israel’s military campaign in Lebanon. International law generally prohibits militaries from attacking civilian infrastructure, and the United Nations human rights chief has criticised Israel’s actions in Lebanon, particularly its use of widespread evacuation orders that have displaced more than a ...
Iranian women shout slogans after Eidul Fitr prayers at the Grand Mosalla mosque in Tehran.—AFP • Trump manages to secure backing from some allies for potential mission to unblock the strait • Tehran says Hormuz open to all, except aggressors • US Treasury lifts sanctions on Iran oil; Bessent says Washington may ‘escalate to de-escalate’ • Hit hard over Eid, Tehran strikes back with largest salvo yet against Israel • Gulf states reject accusation they back military actions against Iran JERUSALEM / TEHRAN: A day after Iranian forces launched a punishing series of retaliatory attacks against Israel, the country’s president said that “threats and terror” would only make the country more unified. The message from Masoud Pezeshkian came after Trump threatened to attack Iran’s power plants if the Strait of Hormuz was not fully reopened, and called on other nations to help end the closure. White House Press Secretary Karoline Leavitt said that Washington is “already starting to see them (Nato) answer the president...