US President Joe Biden has confirmed that discussions are ongoing with Israel regarding the possibility of Israeli airstrikes on Iran’s oil infrastructure.
When asked if he supported such strikes, Biden said, “We’re discussing that,” but stopped short of a full endorsement, commenting, “I think that would be a little… anyway.”
These comments have intensified concerns in the oil market, with crude prices rising sharply by 5% immediately after Biden’s remarks. Prices have now surged 10% since Iran’s large-scale missile attack on Israel earlier this week.
Israel’s Prime Minister, Benjamin Netanyahu, has warned that Iran “will pay a heavy price” for its Tuesday missile barrage, which saw 180 ballistic missiles fired at Israel. Iran has stated that the attack was in retaliation for the killings of key figures, including Hamas political leader Ismail Haniyeh, Hezbollah leader Hassan Nasrallah, and Iranian Revolutionary Guards commander Brigadier General Abbas Nilforoushan.
Biden clarified that he does not expect Israel to retaliate immediately, saying, “First of all, we don’t allow Israel, we advise Israel, and there’s nothing that’s going to happen today.”
He also reiterated that the US has not endorsed Israeli strikes on Iranian nuclear facilities, a suggestion backed by some Israeli leaders, including former Prime Minister Naftali Bennett, who argued such strikes could “fatally cripple” the Iranian regime.
Reports from Israeli media suggest that Israel’s current strategy is to target Iran’s oil facilities first. Should Iran retaliate, Israel would then shift its focus to Iran’s nuclear sites. Biden has consulted other G7 leaders, who agreed that while Israel has the right to respond, its actions should be “proportional.”
Tensions between the two nations have heightened global market fears, especially regarding the possibility of Iran blocking the critical Strait of Hormuz, through which a third of global oil traffic passes.
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