Iran's Supreme Leader Calls for Continued Hormuz Blockade: What This Means for Global Oil Prices

Cho Seong-heum | 2026.03.13

Translation result

■Moztaba Hameinei: Maintain blockade of the Strait of Hormuz…we will not shy from blood revenge■

Moztaba Hameinei, Iran’s newly proclaimed supreme leader, said in his first address that Tehran should continue blockading the Strait of Hormuz to pressure its enemies.

He also signaled a readiness to exact "blood revenge," saying Iran will not shy away from avenging martyrs.

■U.S.: We’re dismantling the regime…Israel: We will help topple the regime■

After Iran declared an all‑out offensive, President Trump reiterated U.S. military resolve and said Washington is in the process of destroying the Iranian regime.

Israeli Prime Minister Benjamin Netanyahu said he would assist Iranians seeking to overthrow the government, effectively lowering Israel’s stated war aims.

■Series of suspected terror incidents in the U.S.…cyberattacks also reported■

Suspected terror incidents were reported at a university and at a synagogue in the United States.

A pro‑Iran hacker group also launched large‑scale cyberattacks against U.S. companies.

■Oil price cap takes effect, domestic gasoline prices fall double digits…strict penalties for violations■

With the oil price cap now in full effect, retail gasoline prices at domestic filling stations fell by double digits.

The government warned it will hold businesses accountable and impose tough, precedent‑setting penalties if companies stray from the cap’s intent.

■KOSPI closes below 5,500…won weakens to the 1,490 KRW range (approximately 1.12 USD)■

Amid rising international crude prices driven by Middle East tensions, South Korea’s stock market fell in the 1% range and closed below the 5,500 mark.

Risk‑averse flows pushed the won to roughly 1,490 KRW to the dollar (approximately 1.12 USD).


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Seongheum Cho (makehmm@yna.co.kr)