POLITICS

United States weighs massive new strikes on Iran

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U.S. President Donald Trump said in an Axios interview Thursday that he is close to deciding on a new large-scale military attack on Iran, potentially exceeding the scope of the earlier Operation Epic Fury launched on February 28. He said U.S. forces are already set for the operation, while acknowledging there would be consequences for Israel if it joined any strikes. The comments come after 12 consecutive days of U.S. airstrikes on Iranian targets following the collapse of a June memorandum on reopening the Strait of Hormuz. Oil prices spiked to $100 per barrel after two Saudi tankers were attacked.

Prepared by Lauren Mitchell and reviewed by editorial team.

Timeline of Events

February 28 Operation Epic Fury strikes launched
June Memorandum of understanding on Hormuz collapses
July 11 U.S. begins consecutive Iran airstrikes
Last week Washington Post-Ipsos poll shows war opposition
Wednesday U.S. strikes continue for twelfth day
Thursday Brent crude hits one hundred dollars
Thursday Trump signals possible massive new attack
Recently Iranian leadership rejects mediators’ latest proposal

Why This Matters to You

Potential military action on Iran could affect you financially. Oil prices have already hit $100 per barrel. This could raise gas prices at the pump. It may also increase the cost of goods shipped across the country.

The Bottom Line

President Trump is considering a large-scale attack on Iran. This comes after 12 days of U.S. airstrikes and a failed peace memorandum. The situation is volatile. Keep an eye on gas prices and consider budgeting for potential increases. Worth forwarding if you know someone who drives a lot.