Tehran, Iran – Iran’s hardline conservatives on Monday pledged allegiance to Mojtaba Khamenei as the country’s new Supreme Leader, succeeding his late father, Ayatollah Ali Khamenei. This move reflects the continued grip of hardline conservatives on power and comes amid concerns about the impact of the crisis on global energy markets.
Popular and political support for the new leader
Supporters of the new Supreme Leader took to the streets in Tehran and other cities, waving the country’s flags and carrying pictures of him and his father, chanting slogans affirming their loyalty to the regime. Iranian institutions and politicians also issued statements pledging their allegiance to the new leader. Observers noted that these public displays were intended to project power and consolidate control in the face of any potential opposition.
The effects of war on energy and markets
The attacks on Iran led to a partial closure of the Strait of Hormuz, impacting global oil flows. They also prompted Saudi Arabia and other Gulf states to reduce production at some oil fields. Oil prices surged, with Brent crude reaching levels not seen in years. Meanwhile, financial markets declined due to concerns about the prolonged crisis and its potential impact on global inflation and energy prices.
International tensions and escalating attacks
The United States and Israel continue to exert pressure on Iran, escalating airstrikes against Iranian targets. Israel has stated it will target any elements that continue hostile policies. Turkey also reported that NATO air defenses intercepted an Iranian missile that entered its airspace, further highlighting the rising regional tensions. Amid these developments, US President Donald Trump demanded Tehran’s unconditional surrender, warning of the potential consequences of its continued hostile policies.
