In response to soaring energy bills and lira devaluation pressures stemming from the war with Iran, the Central Bank of Turkey sold over 118 tons of gold (worth approximately $20 billion) in two weeks, an amount analysts say is equivalent to 15% of its reserves accumulated over the past six years. Last week alone, it sold nearly 70 tons, marking the largest weekly decline since at least 2013.

Trump posted on social media, "April 7th will be Iran's Power Plant Day and Bridge Day," hinting at a fierce bombing of Iranian power plants and bridges. He also said, "Open that damn strait, or you'll live in hell—just you wait!"

The US-Israeli assassinations of high-ranking Iranian officials failed to produce the "moderate" leadership Trump had hoped for. Instead, the US adopted a more hardline stance, placing control of the Strait of Hormuz and war reparations on the negotiating table. Trump threatened to strike all of Iran's power plants simultaneously if no agreement was reached within two or three weeks, but many regional and Western officials are pessimistic about the prospects for negotiations.

According to a disclosure by the Omani Ministry of Foreign Affairs on Sunday, April 5, Iran and Oman held vice-ministerial level talks to discuss various possible solutions to ensure the smooth passage of ships through the Strait of Hormuz. A team of experts also attended the meeting and submitted specific recommendations. Data from Lloyd’s List shows that on Sunday, three Omani vessels sailed outside the “permitted corridor” designated by Iran, passing close to the Omani coastline through the strait.

Iran reportedly struck Jubail Industrial City in Saudi Arabia’s Eastern Province on April 7.  According to media reports, Iranian ballistic missiles and drones sparked large fires at the site. Jubail is one of the world’s largest industrial hubs and a cornerstone of Saudi Arabia’s petrochemical sector. “Jubail and Yanbu (where Saudi has its second largest