US President Donald Trump has said the US military has bombed a small island off the coast of Iran - home to a major oil terminal considered the country's main economic lifeline.
Trump said that Kharg Island's military facilities had been "completely destroyed," but that the country had stopped targeting its oil infrastructure.
However, he warned that he would reconsider the decision not to target oil facilities on the island if Iran or others "do anything to interfere" with the safe passage of ships through the Strait of Hormuz - one of the world's most important shipping lanes, located south of Iran's coast.
Iran's military stated that oil and energy infrastructure belonging to companies working with the US would be "immediately destroyed" if Kharg's oil infrastructure was attacked.
Why is Kharg Island important to Iran?
Kharg Island is a small rock just 24 km off the coast of Iran.
Despite its size, it is one of the most critical parts of Iran's energy infrastructure.
The US strike on this small but vital island in the northern Gulf is like striking "Iran's economic vein."
90% of Iran's crude oil comes through a terminal on the island - transported via pipelines from the mainland.
Very large tankers - capable of carrying up to 85 million gallons of oil - go to the island to collect the oil.
The island's coast is quite close to deep waters, unlike the shallower coast of the mainland.
Then, the tankers return through the Persian Gulf and exit the Strait of Hormuz, heading for China - the main buyer of Iranian oil.
A terminal for Iranian oil exports, the island provides a major source of revenue for the Islamic Revolutionary Guard Corps (IRGC).
What have the US and Iran said about the attack?
Trump said on Friday that US Central Command (Centcom) had "executed one of the most powerful bombing strikes in the history of the Middle East and completely destroyed every military target on Iran's crown jewel, Kharg Island."
He added that "for reasons of courtesy" he had "chosen not to destroy the oil infrastructure on the island."
Centcom said US forces had struck "more than 90 Iranian military targets on Kharg Island, protecting oil infrastructure".
Iranian state media also reported that no damage was caused to the island's oil facilities.
Following the attacks, the country's military warned that oil and energy infrastructure belonging to companies working with the US would be "instantly destroyed and reduced to a pile of ashes" if its energy facilities were attacked.
Why didn't the US target the island's oil facilities?
Military action to destroy the island's infrastructure would be extremely damaging to Iran.
This would also represent a significant escalation of the conflict.
This is likely to drive up global oil prices even further and could also lead to Iran targeting more oil infrastructure across the Middle East.
Two weeks after the start of the war, Iran still has the capacity to launch large numbers of low-cost, high-explosive drones toward its Gulf Arab neighbors, as well as toward naval vessels.
It could potentially expand these objectives to include vital infrastructure such as desalination plants that provide drinking water to millions of people.
Justin Crump, a military analyst and former British army officer, said the bombing was an attempt by Trump to deter Iran from further escalating the conflict.
Trump previously stated that the purpose of the war was for the people of Iran to rise up and overthrow the Islamic Republic's regime.
While he has since expressed other motivations for the war, Crump said targeting the island's oil infrastructure was "difficult" as it would destroy the country's economic life for a long period of time.
Will the US try to invade the island?
There has been speculation as to whether US forces will at some point attempt to occupy Kharg Island.
The seizure would not only hinder Iran's oil exports, but could also provide a platform from which attacks against the continent could be carried out.
US media reports that amphibious ships carrying up to 5,000 sailors and marines are now being sent to the Persian Gulf, adding to this speculation.
However, the Pentagon has declined to comment.
Taking the island would effectively cut off the IRGC's economic lifeline, affecting its ability to wage war, according to security analyst Mikey Kay. /Telegraph/
