Iran’s Parliamentary Speaker Mohammad Bagher Ghalibaf warned that the U.S. military blockade of Iran’s southern ports could trigger a new global financial crisis as the Tehran-Washington standoff around the strategic Strait of Hormuz persists.
His comments came on Thursday after reports of rising U.S. Treasury bond yields, which he said would ultimately be used to fund what he described as the “cosplay” of U.S. Secretary of Defense Pete Hegseth at the strategic waterway linking the Persian Gulf to the Sea of Oman.
“So you're funding Hegseth the failed TV host at rates unheard of since 2007, so he can cosplay as Secretary of War in our backyard in Hormuz?” he said in a post on the social media platform X.
Ghalibaf criticised the U.S. Navy’s blockade of Iranian southern ports and Washington’s escalating standoff with Tehran over control of the waterway, through which around 20 per cent of global energy supplies previously transited before the Israel-U.S. war on Iran on 28 February.
The Iranian parliamentary speaker also reposted reports about U.S. inflation and rising Treasury yields after the sale of 30-year bonds at a yield of 5 per cent, the highest level since 2007.
“You know what's crazier than $39 trillion in debt? Paying a pre-GFC premium … and all you'll get is a brand new GFC.”
Yields on 30-year U.S. Treasury bonds have recently risen above 5 per cent, reaching levels not seen since 2007, ahead of the global financial crisis.
Higher bond yields generally reflect expectations of elevated inflation and interest rates, which can increase government borrowing costs.
Meanwhile, judiciary spokesman Asghar Jahangir defended the seizure of U.S.-linked tankers under domestic and international law, condemning what he described as U.S. “piracy” against Iranian ships.
“The seizure of American tankers is a matter based on domestic and international laws. In addition, according to the 1982 Convention on the Law of the Sea, a coastal state can seize ships of another country for violating domestic and international laws and regulations in its maritime territories or on the high seas,” he said in a statement on Thursday.
Jahangir added that Tehran’s seizure of the tankers was “not equal to and commensurate with the hostile and predatory behavior of the United States in its piracy” against Iranian ships.
“The U.S. President has openly admitted to and even boasted about piracy,” the spokesman said.
“The international community and its affiliated institutions must stand up to this arrogant unilateralism of the United States; the Washington regime has made a mockery of all universal rights and rules,” the statement added.
Foreign Minister Abbas Araghchi, who is in New Delhi for the BRICS foreign ministers’ meeting, also reacted to U.S. President Donald Trump’s latest threat of war against Iran during his visit to Beijing.
Speaking on the sidelines of the meeting, Araghchi said the U.S. should seek a solution to its dispute with Iran outside the military sphere.
“I hope they will put aside this rhetoric and move toward logic. They will not achieve anything from adopting this path,” state-owned IRNA news agency quoted Araghchi as saying.
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The UN's International Maritime Organization has paused escort operations through the Strait of Hormuz after a cargo ship was reportedly attacked near Oman, with two U.S. officials accusing Iran of the attack.
The United Nations' top human rights official has called for independent investigations into deaths in U.S. immigration detention facilities, citing a rise in fatalities among people held by U.S. Immigration and Customs Enforcement (ICE).
Tens of thousands of people are still unaccounted for after two powerful earthquakes struck Venezuela. At least 589 people have been confirmed dead and hundreds are believed to be trapped under rubble, as emergency crews and international rescue teams race to respond.
An aircraft roughly the size of a car crashed into Beijing's tallest skyscraper on Friday evening, triggering a major emergency response and a heavy police presence as authorities sealed off the area and gave no immediate explanation for the incident.
An earthquake of magnitude 6.9 struck Japan's northeast coast on Thursday, but no tsunami warning was issued, no injuries were immediately reported and no irregularities were found at nuclear facilities, the authorities said.
As Western Europe battles a deadly heatwave that has shattered temperature records, disrupted transport and power supplies, and forced the closure of schools and cultural landmarks, attention is turning to whether El Niño is playing a role in the extreme conditions.
The U.S. Senate rejected a resolution on Wednesday that would have directed President Donald Trump to remove U.S. forces from hostilities against Iran unless Congress formally authorised military action.
The Kremlin has denied a Wall Street Journal report claiming Moscow is pressuring Belarus to support an expanded Russian military campaign in Ukraine.
Tens of thousands of people are still unaccounted for after two powerful earthquakes struck Venezuela. At least 589 people have been confirmed dead and hundreds are believed to be trapped under rubble, as emergency crews and international rescue teams race to respond.
The UN's International Maritime Organization has paused escort operations through the Strait of Hormuz after a cargo ship was reportedly attacked near Oman, with two U.S. officials accusing Iran of the attack.
Kazakhstan has not received an official request from Russia for petrol supplies, Energy Minister Yerlan Akkenzhenov said, as fuel shortages and sales restrictions in Russia raise concerns over fuel supplies across Central Asia.
Iran's Ministry of Foreign Affairs on Friday (26 June) condemned as "interventionist, irresponsible and provocative" a statement issued following a joint meeting of foreign ministers from the U.S. and the Gulf Cooperation Council (GCC) in Manama, Bahrain.
Azerbaijan Airlines (AZAL) has taken delivery of its first Airbus A321neo, marking another milestone in the carrier's long-term fleet modernisation programme aimed at improving efficiency, expanding capacity and enhancing the passenger experience.
Pakistan is seeking to revive economic ties with Iran by reopening transport links and reassessing imports of discounted Iranian crude oil, as recent regional de-escalation raises hopes of broader economic cooperation.
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