Defense Secretary Pete Hegseth has stated the war with Iran will not end until “the enemy is totally and decisively defeated.” He added that this will happen on a timeline determined by the U.S.
European Countries and the War on Iran
European leaders are watching the activities in Cyprus closely. Cyprus is an island in the Mediterranean Sea, is a member of the European Union, and hosts two sovereign British military bases.
Over the past couple of days, the UK, Italy, Greece, France, the Netherlands, and Spain announced they will be sending defensive military equipment to Cyprus.
Cyprus Development
On Feb. 28, two missiles were “fired in the direction of Cyprus,” says British Defense Secretary John Healey.
On March 2, the UK’s defense ministry said it was responding to a suspected drone strike at RAF Akrotiri airbase, which is a key hub for British air operations in the Middle East. It intercepted two other drones heading toward the base later the same day, according to a Cypriot government spokesperson.
The British Prime Minister Keir Starmer announced on March 3 that he would send helicopters with counter-drone technology and the Royal Navy’s HMS Dragon warship to the region.
The next day, it was confirmed that the drone attack on the RAF Akrotiri airbase was not from Iran. The strike came from Lebanon, according to a deputy government spokesperson.
On March 5, French President Emmanuel Macron visited Cyprus and said he would deploy eight frigates, two amphibious helicopter carriers, and an aircraft carrier to the eastern Mediterranean and Red Sea. The Dutch government also said it would send a frigate to the Mediterranean.
Oil Price Impact
On Tuesday, March 10, oil prices continue to drop even though Hegseth insists this will be the “most intense day of strikes inside Iran.”
Crude oil prices in the U.S. dropped more than 11 percent to $83.01 a barrel. International Brent crude dropped 10 percent to $87.30.
However, since the war in Iran began, crude oil prices in the U.S. are still up 23 percent since Feb. 28.
Stocks are on the rise. The S&P 500 is up 0.3 percent in early trading. The Nasdaq composite traded higher by 0.6 percent, and the Dow Jones Industrial Average popped 200 points.
Tuesday morning, energy ministers from leading industrialized nations met to discuss the proper response to the rising crude oil prices. They did not announce a strategic release of reserves, which was viewed as a front-line response to calm global markets.
France’s finance minister and overseer of energy policy, Roland Lescure, says officials asked the International Energy Agency to “look into details that we could have at hand, were we to decide to use” international oil reserves to calm markets.
He added, “Everyone’s willing to stabilize the market, and everyone’s willing to explore any ways to do so.” He noted the United States and France are aligned on the issue.
When asked about a news release, Lescure responded, “The … potential release of inventories is not the only way forward. And as you know, the best way to solve the problem is to reopen the Strait of Hormuz.”
IEA Executive Director Fatih Birol says member governments will meet on Tuesday, “to assess the current security of supply and market conditions to inform a subsequent decision on whether to make emergency stocks of IEA countries available to the market.”
A U.S. official told NBC News that President Donald Trump is also reviewing options to bring down oil prices, including the restriction of U.S. exports, intervening in futures markets, and lifting some requirements of the Jones Act, which requires domestic fuel to only be carried by U.S.-flagged ships.
Hegseth on Iran War
“We didn’t start this war, but under President Trump, we are finishing it. Their war on Americans has become our retribution against their ayatollah and his death cult. It took the 47th president, a fighter who always puts America first, to finally draw the line after 47 years of Iranian belligerence.
“He reminded the world, as he has time and time again, being an American means something unbreakable. If you kill Americans, if you threaten Americans anywhere on Earth, we will hunt you down without apology and without hesitation and we will kill you,” asserted Hegseth during a press briefing two days after the U.S. and Israel launched a joint strike on Iran.
Sources:
CNN: Live updates” US will end war with Iran ‘on our timeline,’ Hegseth says
NBC News: Oil prices were plunging fast – until Hegseth promised even bigger strikes on Iran
U.S. Department of War: Secretary of War Pete Hegseth and Chairman of the Joint Chiefs of Staff Gen. Dan Caine Hold a Press Briefing
Featured Image Courtesy of Pay Joyce’s Flickr Page – Creative Commons License
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