The U.S. military has launched targeted airstrikes against Iranian missile, drone, and radar facilities. The action on June 26 and 27 is a direct retaliation for Iranian drone attacks on commercial ships in the Strait of Hormuz.
The escalation began when Iranian drones struck the Singapore-flagged M/V Ever Lovely. A subsequent attack hit the Panama-flagged tanker M/T Kiku, which was carrying over two million barrels of crude oil.
U.S. Central Command responded within 24 hours. President Trump condemned the Iranian actions as a "foolish violation" of a recent ceasefire.
The Strait of Hormuz is a critical global chokepoint, handling roughly one-fifth of the world's oil supply. The attacks have heightened geopolitical risk, with previous U.S.-Iran military exchanges this year causing significant volatility in financial markets, including a major sell-off in cryptocurrencies.
The brief ceasefire, which lasted about a week, has now collapsed with the resumption of Iranian drone operations against commercial shipping.