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Iran has issued one of its strongest warnings yet, declaring it will shut the Strait of Hormuz and launch a massive retaliation if it comes under fresh attack. According to Iranian state media, Tehran's new military doctrine calls for striking at least two enemy targets for every Iranian target hit. The warning comes after reported U.S. strikes on Iranian coastal sites and Iran's claimed retaliation against U.S. military targets in the Gulf. As tensions between Washington and Tehran continue to rise, fears are growing over the future of global energy supplies, regional security, and the risk of a wider military confrontation.