The U.S. Central Command (CENTCOM) said its forces carried out a new round of offensive strikes against Iran on July 7, hitting more than 80 targets with precision munitions. The operation was launched in response to Iran’s latest attacks on commercial vessels transiting the Strait of Hormuz. President Donald Trump approved the strikes while attending the NATO summit in Turkey, and U.S. officials described the operation as “punishment.”
According to CENTCOM, the strikes targeted Iranian air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities, and more than 60 Islamic Revolutionary Guard Corps (IRGC) small boats in and near the Strait of Hormuz. U.S. officials said the campaign was four to five times larger than previous retaliatory strikes and is expected to continue.
The U.S. said Iran recently attacked three commercial vessels in the Strait of Hormuz: Marshall Islands-flagged M/T Al Rekayyat, Saudi Arabia-flagged M/T Wedyan, and Liberian-flagged M/T Cyprus Prosperity. CENTCOM called the attacks a violation of the ceasefire and said U.S. forces remain prepared to hold Iran accountable if the agreement is not followed.
Reports said U.S. airstrikes hit multiple military targets in southern Iran, including air defense systems, surface-to-air missiles, coastal surveillance sites, drone launch locations, port facilities, anti-ship cruise missile positions, marine radar systems, and areas near Bandar Abbas, Sirik, and Qeshm Island. Multiple explosions and smoke were reported from the targeted locations.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) revoked Iran-related General License X and issued General License X1, effective July 7, 2026. The new license revokes and provides a wind-down period for activities related to the production, delivery, and sale of Iranian crude oil, petrochemical products, and petroleum products.
Iran’s top joint military command said the only safe passage for merchant ships and tankers in the Strait of Hormuz is the route designated by Iran and warned it would not allow U.S. interference. It also called the U.S. strikes “blatant aggression” and threatened a “devastating response.”
Iran’s chief negotiator, Mohammad Bagher Ghalibaf, accused the United States of violating the memorandum of understanding aimed at ending the conflict. He said recent U.S. strikes in southern Iran, the reimposition of sanctions on Iranian oil exports, and threats of further military action breach the agreement. Ghalibaf also claimed Israel’s continued military actions in Lebanon violate the same understanding, adding that “the era of bullying and extortion is over” and that Iran will not back down.
Iran’s Khatam al-Anbiya Central Headquarters warned that the country’s armed forces would deliver a “devastating response” to the latest U.S. strikes, describing them as blatant aggression. The military also said Iran will not allow any U.S. interference in the management of the Strait of Hormuz and insisted that only shipping routes designated by Iran are safe for commercial vessels and oil tankers.
The latest escalation follows reported U.S. strikes on Iranian targets, attacks on tankers in the Strait of Hormuz, and Washington’s decision to revoke authorizations that had allowed Iranian oil exports. The developments have increased tensions and raised concerns over global oil supplies and regional security.
Following the escalation, crude oil prices jumped, while Asia-Pacific sovereign bond yields rose, with Australia’s 10-year yield up 6 basis points to 4.8820%, New Zealand’s up 8 basis points to 4.5080%, and Japan’s up 2.5 basis points to 2.865%.
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