Israeli ambassador: Strikes targeted IRGC funding, not international oil

Israeli Ambassador to the United States Yehiel (Michael) Leiter clarified that recent Israeli strikes in Iran were aimed at the Islamic Revolutionary Guard Corps (IRGC) and not international oil markets.

In a post on social media platform X, Leiter explained that Israel destroyed a ballistic missile launcher that had fired cluster munitions at Israeli territory, an underground IRGC complex storing weapons of mass destruction, and Basij positions near Ilam.

As long as the Iranian regime holds a nuclear and ballistic threat over the world’s head - oil prices will be at their mercy.

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— Ambassador Yechiel (Michael) Leiter (@yechielleiter) March 11, 2026

Addressing reports that the attacks caused global oil prices to spike, Leiter said, “Some media outlets have reported that’s the reason for the spike in oil prices. Well, it is not the case.  The depot belonged to the IRGC. It was not oil that’s on the international markets. This was an IRGC source of funding, which we took out. After the president’s statements yesterday, we saw the price drop.”

Leiter added that once the Strait of Hormuz is reopened and secured, oil prices are expected to drop further. He emphasised that the main objective remains the overthrow of the Iranian regime, warning that Iran’s nuclear weapons and ballistic missiles allow it to “hold the entire world hostage.” The ambassador stressed that Israel is focused on halting the spread of ballistic missiles, nuclear weapons, and terrorism, rather than targeting the global oil supply.