Washington: Tensions between the United States and Iran have sharply increased after US forces struck two Iranian rocket launchers on Larak Island near the Strait of Hormuz, followed by an Iranian missile attack targeting US military positions in Jordan.

The strikes were the first known US attacks on Iran since late July and came after weeks in which the administration of US President Donald Trump had increasingly relied on economic sanctions to pressure Tehran.

The US strikes took place on Sunday, August 30, on Larak Island, a small Iranian island in the Strait of Hormuz near the strategic port of Bandar Abbas. The island overlooks important shipping routes at the entrance to the Gulf.

A US official said American forces targeted two Iranian launchers after Islamic Revolutionary Guard Corps forces were observed preparing to launch rockets carrying sea mines into the Strait of Hormuz.

The US Central Command described the operation as limited and precise action against IRGC mine laying forces that it said posed an imminent threat to shipping in the Strait.

Iran responded with a missile attack on US military positions in Jordan, according to Iranian state media. Iran's Revolutionary Guard said it launched ballistic missiles at the King Hussein and Al Azraq bases in response to the US strike.

Jordan's Armed Forces said its air defence systems intercepted eight missiles that breached the country's airspace early Monday.

Iran's Revolutionary Guard also said the US strike on Larak caused deaths and injuries among Iranian fighters and civilians. Those claims have not been independently verified. Iranian authorities also said their attack on US positions caused heavy damage, but those claims have not been independently confirmed.

The latest exchange comes as Washington continues to increase economic pressure on Tehran.

US Treasury Secretary Scott Bessent said new secondary sanctions targeting institutions involved in Iranian financial activity were likely to be announced every week, initially focusing on banks.

The United States has already imposed penalties on the United Arab Emirates operations of Egypt's Banque Misr over alleged financial links to Iran. Bessent said Washington could take further action against financial institutions by restricting their access to the dollar based financial system.

The renewed fighting is also raising fresh concerns about the Strait of Hormuz, one of the world's most important energy routes.

Before the conflict disrupted shipping, about one fifth of global oil shipments passed through the waterway. Shipping data showed that the number of visible commodity vessels travelling through the Strait fell to about five a day over the weekend.

The actual number may be higher because some vessels have switched off their automatic identification systems to avoid being tracked.

The disruption has already affected global oil markets. Brent crude rose 2.7 percent to $90.51 a barrel on Monday as investors assessed the risk of further disruption to energy supplies.

Higher oil prices could add to inflation pressures in economies that are already dealing with elevated costs. They could also make it more difficult for central banks to lower interest rates.

Markets increased their expectations of a possible US Federal Reserve interest rate increase in September as investors considered the impact of higher energy prices on inflation.

Another source of uncertainty is Kharg Island, Iran's main oil export terminal.

US President Donald Trump said on social media that Kharg Island was being "blown to smithereens". However, there was no independent confirmation that the island had been attacked. The video accompanying Trump's statement was also found to be artificially generated.

Kharg Island is particularly important to Iran's economy because it handled about 90 percent of the country's oil exports before the war. Any confirmed attack on the facility could significantly affect Iran's ability to export oil.

The latest military exchange follows a period in which the Trump administration had placed greater emphasis on economic pressure rather than new military action against Iran.

Washington has said its Larak operation was intended to prevent Iranian forces from threatening shipping in the Strait of Hormuz. Iran has warned that it will respond to attacks against its territory.

It remains unclear whether the latest exchange will remain limited or lead to further military action.

For international markets, the immediate concern is the security of the Strait of Hormuz and the effect of any further disruption on oil prices. For Iran and the United States, the latest confrontation also raises the risk that military pressure and economic sanctions could reinforce each other.

The combination of renewed fighting, tighter sanctions and uncertainty around a major global energy route means the consequences of the latest US Iran confrontation are likely to extend well beyond the Middle East.