The US military struck targets related to the Iranian Revolutionary Guard Corps in Iran on Tuesday. ^[1] US Central Command confirmed on September 1 that US forces began airstrikes targeting IRGC objectives in Iran. ^[2] Iranian state television reported that multiple blasts were heard in the east of Bandar Abbas and around Qeshm Island. ^[3] The US Central Command said American forces began striking targets in Iran at 12 pm ET. ^[4] The US Central Command stated that the strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members deployed to the region. ^[5] Dr. Raz Zimmt, director of the Iran and Shi'ite Axis Program at the Institute for National Security Studies (INSS), stated that the official inflation rate is more than 80% and the price of basic goods, particularly food, has increased by between 120% and 180%. ^[6] Iran's crude oil exports reportedly plunged to approximately 220,000-255,000 barrels per day in August, compared with around 2 million barrels per day in March. ^[7] US Treasury Secretary Scott Bessent warned that the US administration will impose sanctions and severe penalties on any country that enables Tehran to obtain foreign currency. ^[8] Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that Tehran would respond with military measures if the US intensifies naval blockades. ^[9] The US airstrikes were conducted in response to alleged recent attacks by the IRGC on merchant ships in the Strait of Hormuz and against US personnel deployed in the area. ^[10] US Air Force officials revealed that attacks targeted IRGC objectives in the area surrounding the Strait of Hormuz. ^[11]