The Trump administration carried out strikes near Kharg Island and Jask in Iran on Tuesday as the United States added military might to its economic squeeze of the country.

The targets included Iranian tankers, a US official told Fox News.

The strikes were in response to more attempted missile attacks on a Navy warship, a US official told the Associated Press.

It was the latest tit-for-tat between the warring nations, with Iran weighing its options for retaliation. The Islamic Revolutionary Guard Corps (IRGC) warned Tuesday that ships in Kuwaiti and Bahraini ports hosting US forces could be targeted in response.

Tehran relies heavily on oil exports to fund its economy and its military. And Kharg Island is the main hub for Iran’s oil industry, providing a seaport for the export of up to 90% of Iran’s oil products, as well as supplying storage for up to 30 million barrels of crude.

“This is the greatest economic isolation operation in the history of the world. We are going to asphyxiate this regime,” Treasury Secretary Scott Bessent told Fox News this weekend.

He said the combination of US might in the Strait of Hormuz with economic sanctions is “one of the most powerful one-two punches in the history of economic isolation.”

Iran’s Fars news agency also reported an explosion being heard in the southern Jask area off the Gulf of Oman and east of the Strait of Hormuz.

This is a developing story. Please check back for updates.