US Sanctions Iran Amid Escalating Israel Tensions

The United States recently imposed new sanctions on Iran's oil and petrochemical sectors in response to Iran's missile attack on Israel on October 1. Iran condemned these sanctions as 'illegal and unjustified', asserting its right to defend its sovereignty. Meanwhile, Israel has identified potential military and energy targets in Iran for retaliation, although it is unlikely to target nuclear facilities. Iran has warned US allies in the Gulf, such as Saudi Arabia and the UAE, against facilitating Israeli attacks, threatening severe retaliation. The Gulf states, hosting US military forces, have communicated their reluctance to be involved in any conflict, fearing repercussions on their oil infrastructure. This escalating tension risks disrupting the global oil market, particularly through the Strait of Hormuz, a key passage for energy supplies.