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CAIRO: Iran threatened \u200bthe United States with \u201ceconomic warfare\u201d on Tuesday and said it had fired an advanced missile at U.S. warships, underscoring the risks of further escalation \u200cin the war only days after both sides traded blows again.<\/strong><\/p>\n The six-month-old war, opens new tab has been marked by a cycle of pauses followed by periodic flare-ups, with the U.S. last reporting attacks on Iranian targets on Saturday, when U.S. forces struck three Iranian oil tankers. Iranian state media on Sunday reported that Iran fired the Qassem Basir missile in its attacks on several U.S. vessels.<\/p>\n Iran-backed Houthi militia attacked several cities in Saudi \u200bArabia, wounding 73 people, a spokesperson for the Saudi-led coalition in Yemen said on Tuesday, a further sign that the conflict risks spreading into a wider \u200bregional war as diplomatic progress stalls.<\/p>\n And despite U.S. attempts to open up the Strait of Hormuz, Iran has continued to disrupt shipping through \u2060the critical artery for global oil and gas supplies, with commodity vessel traffic slowing again this week.<\/p>\n The Islamic Republic has vowed to announce a new restricted zone in the Gulf in \u200bthe coming days, along with maps of a new shipping corridor through the Strait of Hormuz, though it was unclear when details would emerge.<\/p>\n \u2018MARITIME EXCLUSION ZONE\u2019<\/strong><\/p>\n The new restricted zone would \u200bbegin from where the U.S. blockade of Iran begins and extend into areas of the Gulf, Mohsen Rezaei, the secretary of Iran\u2019s Supreme National Security Council, told state television on Sunday, adding that any vessel entering the area would be placed on an Iranian sanctions list.<\/p>\n On Tuesday, Rezaei reissued dual economic and military threats on X.<\/p>\n \u201cIn recent days, Washington has received a clear warning from Iran\u2019s new missiles. \u200bEconomic warfare will be met by a maritime exclusion zone across the Persian Gulf to the blockade perimeter. The operational posture toward U.S. warships and bases has been fundamentally \u200brecalibrated,\u201d Rezaei said.<\/p>\n Rezaei was likely referring to the Qassem Basir ballistic missile that Iranian media reported was fired at U.S. warships near the Strait of Hormuz. The U.S. military said its warships \u200cevaded any missile \u2060attacks.<\/p>\n Despite major U.S. barrages that have degraded Iran\u2019s conventional forces and punished its already ailing economy, it has maintained missile and drone capabilities to threaten oil tankers transiting the Strait of Hormuz without its permission and attack Gulf neighbours that are home to U.S. military bases.<\/p>\n QASSEM BASIR MISSILE<\/strong><\/p>\n Iran has touted the Qassem Basir as an upgraded missile with improved manoeuvrability that can evade missile defence systems, with a guidance system that is effective against electronic warfare. The Fars news agency reported its first combat use came in June 2025 against Israel.<\/p>\n Some \u200banalysts conjecture Iran\u2019s leverage of the Strait \u200bof Hormuz may be dwindling while \u2060harsh new U.S. economic sanctions are becoming increasingly difficult for Iran to withstand.<\/p>\n About one-fifth of global oil and liquefied natural gas shipments passed through the strait before the war, which enabled Iran to threaten tankers from Gulf neighbours seeking to export oil and gas. That has lifted energy \u200bprices at a time when the war, which opinion polls show is unpopular in the U.S., has increased the risks for \u200bPresident Donald Trump\u2019s Republican \u2060Party in November congressional elections.<\/p>\n \u201cOil prices will drop precipitously, like everything else is dropping (but more!), when we WIN the war with Iran. Three Dollars a gallon, but ultimately, below Two Dollars a gallon. It will all happen quickly, and Iran will never have a Nuclear Weapon,\u201d Trump said on social media.<\/p>\n Trump has yet to achieve the aims he set out when he launched \u201cOperation \u2060Epic Fury\u201d \u200bin February: to end Iran\u2019s nuclear programme, halt its ability to attack its neighbours and create conditions \u200bfor Iranians to topple their leadership.<\/p>\n Tehran\u2019s clerical rulers remain in power and aim to emerge from the war stronger than before. They continue to demand sanctions relief and hope eventually to collect fees from ships using the \u200bstrait.<\/p>\n<\/div>\n