Kathmandu— The United States has launched strikes on Larak Island in southern Iran, marking its first military action against the country since late July. The Islamic Revolutionary Guard Corps (IRGC) confirmed that several soldiers were killed and injured in the attack. Tehran vowed to retaliate for Sunday’s strike, which targeted launchers set to fire rockets carrying mines towards the Strait of Hormuz.

Strategic Waterway Control

The US has been claiming control over the strategic Strait of Hormuz, stating that it is managing to get millions of barrels of oil through the strait under its military protection. However, attacks on ships in Hormuz have been reported almost daily, and Iran maintains that the waterway remains closed.

Financial Pressure Strategy

In recent weeks, the US has shifted from a bombing campaign to a financial pressure strategy against Iran. Last week, the Trump administration announced plans to isolate Iran financially by threatening secondary sanctions against countries and companies that do business with Tehran. Despite this shift, Pentagon chief Pete Hegseth warned that the US remains prepared to use military force if needed.

Economic Impact

US officials have argued that Iran is on the verge of economic collapse due to sanctions and a military blockade against its ports. However, Iranian Prime Minister Abbas Araghchi dismissed these claims, stating that intelligence shows major efforts to manipulate energy markets for personal gain. Despite reports of reduced control over Hormuz by Iran, oil prices remain high amid supply uncertainty.

(With inputs from Al Jazeera)

Originally published on abcnews.com.np.