A senior Iranian official has declared that Iran is ready for a more intense war and will escalate its counterstrikes if the United States continues to attack its territory and infrastructure. The official, who remained anonymous, stated that Tehran has no intention of backing down in the face of an American naval blockade and attacks on its oil tankers. While acknowledging increasing economic hardship, Iranian leaders view the war with the US as an existential threat, leaving them no option but to continue fighting. This stance comes as the war enters its seventh month, marked by ongoing hostilities and retaliatory actions.
The conflict has led to significant economic repercussions, particularly concerning energy prices. Brent crude surpassed $100 a barrel on Wednesday, extending its year-to-date gain to approximately 65%. US diesel pump prices have also reached record highs, adding pressure on President Donald Trump ahead of the November 3 midterm elections. The US, aiming to avoid a return to the full-scale fighting seen in March and April, is attempting to exert economic pressure through a blockade and by threatening to penalize governments and companies that do not cut ties with Tehran.
Despite the economic strain, which includes inflation nearing 90% and a rapidly depreciating rial, Iran's leaders remain committed to the conflict. They believe the Trump administration responds only to threats and escalation, and that it is more sensitive to an escalating war in the lead-up to the midterm elections, as noted by Dina Esfandiary of Bloomberg Economics. Iran has been rebuilding its military capabilities since April and claims to possess enough missiles for a prolonged conflict. Mohsen Rezaee, Iran's new security chief, signaled a more aggressive military posture, indicating a "fundamentally recalibrated" approach towards US ships and bases.
President Donald Trump, however, downplayed concerns about the war, stating it would end "immediately" after the November midterm elections. He suggested that Iran was prolonging the conflict to influence the election and keep fuel prices high. Trump indicated that after the election, oil prices would "tumble downward." Some Iranian officials, including President Masoud Pezeshkian, have suggested negotiations, but only if the US lifts the blockade and adheres to the terms of the June ceasefire deal, which quickly broke down. The political elite in Iran is reportedly debating whether to escalate further or simply resist, but they are developing faster and more efficient retaliatory measures to impose greater costs on the US.
