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Iran’s new supreme leader said the Strait of Hormuz should remain shut and Tehran will look to open other fronts in the war if the US and Israel persist with their attacks.

In his first public comments since succeeding his father at the weekend, Mojtaba Khamenei said the Islamic Republic would seek to ensure the critical waterway for oil and gas stays effectively closed — maintaining a choke on supplies that’s triggered a surge in global energy prices.

His statement — published on state media on Thursday — came as US President Donald Trump said preventing Iran from having nuclear weapons and being a threat to the Middle East is “of far greater interest and importance to me” than the cost of oil.The defiance shown by both leaders indicates that the war in the Middle East isn’t close to a de-escalation after almost two weeks of fighting. Israel launched a fresh wave of large-scale strikes across Iran on Thursday, while the Islamic Republic stepped up attacks on Dubai and shipping assets.

Today's show features:
Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst
Rockford Weitz, Tufts University's Fletcher School of Law and Diplomacy Professor of Practice & Director of the Maritime Studies Program
Jason Greenblath, American Century Investments Senior Portfolio Manager
Michael Lohan, CEO of IDA Ireland

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Iran&rsquo;s new supreme leader said the Strait of Hormuz should remain shut and Tehran will look to open other fronts in the war if the US and Israel persist with their attacks. In his first public comments since succeeding his father at the weekend, Mojtaba Khamenei said the Islamic Republic would seek to ensure the critical waterway for oil and gas stays effectively closed &mdash; maintaining a choke on supplies that&rsquo;s triggered a surge in global energy prices. His statement &mdash; published on state media on Thursday &mdash; came as US President Donald Trump said preventing Iran from having nuclear weapons and being a threat to the Middle East is &ldquo;of far greater interest and importance to me&rdquo; than the cost of oil.The defiance shown by both leaders indicates that the war in the Middle East isn&rsquo;t close to a de-escalation after almost two weeks of fighting. Israel launched a fresh wave of large-scale strikes across Iran on Thursday, while the Islamic Republic stepped up attacks on Dubai and shipping assets. Today's show features:
<ul>
<li>Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst</li>
<li>Rockford Weitz, Tufts University's Fletcher School of Law and Diplomacy Professor of Practice &amp; Director of the Maritime Studies Program</li>
<li>Jason Greenblath, American Century Investments Senior Portfolio Manager</li>
<li>Michael Lohan, CEO of IDA Ireland</li>
</ul>

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Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.&nbsp; You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Iran Leader Says Strait of Hormuz to Stay Shut

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