Iran’s foreign minister warned Thursday his nation would show ”ZERO restraint” if the U.S. or Israel attacks oil or gas infrastructure again. The warning followed Israel’s bombing of the South Pars oil field, home to the largest proven reserves of natural gas in the world, and Iran’s retaliatory strikes on fossil fuel infrastructure across the Gulf. On Thursday, QatarEnergy’s CEO said Iran’s attacks on Ras Laffan and other fossil fuel sites have knocked out 17% of Qatar’s liquefied natural gas export capacity for up to five years, causing an estimated $20 billion in lost revenue each year, while cutting off energy supplies to Europe and Asia. In Washington, Treasury Secretary Scott Bessent said the Trump administration will remove sanctions on Iranian oil to lower surging prices, which some analysts predict could top $150 or even $200 per barrel if the war continues. Meanwhile, Iran’s attacks have halted exports of helium from Qatar, which before the war provided more than one-third of global supply. Helium is critical for a range of industries, including semiconductor manufacturing, fiber optics, medical devices including MRIs, and scientific research.
