Iran escalates Strait of Hormuz conflict as US launches 'Project Freedom' to free stranded ships
Iran attacked the UAE with missiles and drones while the US military launched 'Project Freedom' to reopen the Strait of Hormuz on Monday. The US destroyed six Iranian boats and aided two merchant ships through the waterway, though Iran claimed it hit a US warship—a claim the Pentagon denied.
Military Escalation in the Strait
The United Arab Emirates said Iran launched 12 ballistic missiles, three cruise missiles and four drones, with three ballistic missiles shot down and one missile falling into the sea. An Iranian drone sparked a fire at a key oil facility in the UAE emirate of Fujairah, wounding three Indian nationals.
Admiral Brad Cooper, who leads US Central Command, said American forces eliminated six small Iranian boats that were attempting to interfere with commercial shipping.
Trump's 'Project Freedom' Initiative
American forces are actively assisting efforts to restore transit for commercial shipping, with two U.S.-flagged merchant vessels successfully transiting through the Strait of Hormuz. President Donald Trump warned Iranian forces on Monday that they would be 'blown off the face of the Earth' if they attempted to target US ships in the Strait of Hormuz or Persian Gulf.
Conflicting Claims and Economic Impact
US Central Command denied claims from Iranian state media that a U.S. warship transiting the Strait of Hormuz was struck by two missiles, saying 'No U.S. Navy ships have been struck'. The once-unthinkable closure of the strategic waterway could lift gasoline prices to $5 a gallon if the situation is not resolved soon, with US gas prices skyrocketing from $2.98 a gallon before the war to $4.46 a gallon on Monday.
Stock market indices fell, and oil prices rose on news of the UAE attacks, raising investors' fears that the war's impact on the global economy could be exacerbated or prolonged.