U.S. President Joe Biden has revealed that discussions with Israel are ongoing regarding potential airstrikes on Iran’s oil infrastructure.
While Biden did not fully endorse the strikes, he said, “We’re discussing that,” and refrained from further elaboration, adding, “I think that would be a little… anyway.”
His comments spurred a surge in crude oil prices, with a sharp 5% rise, totaling a 10% increase since Iran launched a large-scale missile attack on Israel earlier in the week.
In response, Israel’s Prime Minister, Benjamin Netanyahu, vowed that Iran “will pay a heavy price” for the missile barrage that saw 180 ballistic missiles fired at Israel.
Iran stated the attack was in retaliation for the assassinations of key figures, including Hamas leader Ismail Haniyeh, Hezbollah’s Hassan Nasrallah, and Iranian Revolutionary Guards commander Brigadier General Abbas Nilforoushan.
Biden clarified that immediate Israeli retaliation was not expected, noting, “First of all, we don’t allow Israel, we advise Israel, and there’s nothing that’s going to happen today.”
He also noted that the U.S. has not supported Israeli strikes on Iranian nuclear facilities, despite calls from some Israeli leaders like former Prime Minister Naftali Bennett, who argued such attacks could “fatally cripple” Iran.
Israeli media reports suggest that Israel’s current strategy prioritizes striking Iran’s oil infrastructure.
Should Iran retaliate, Israel would then target nuclear facilities.
Biden, after consulting with G7 leaders, stated that while Israel has the right to defend itself, any action must be “proportional.”
The escalating tensions have rattled global markets, raising concerns about Iran possibly blocking the vital Strait of Hormuz, a key waterway for global oil traffic.
