A coordinated attack by the United States and Israel on Iranian soil commenced Saturday morning, triggering retaliatory responses from Tehran, according to reports from the region. The strikes, which targeted a complex associated with Iran’s Supreme Leader Ayatollah Ali Khamenei in Tehran, represent a significant escalation in regional tensions.
U.S. President Donald Trump stated that “great operations of combat” are underway, while Iranian state media reported a failed assassination attempt on Iranian leaders, who reportedly escaped unharmed. Initial reports from Iran’s Islamic News Agency indicate 53 deaths resulting from strikes on a primary school for girls in Minab, Hormozgan province, with an additional 48 injured, though the BBC has been unable to independently verify these claims due to restricted press access and ongoing internet disruptions within the country.
Explosions were reported in multiple Iranian cities, including the capital Tehran, Karaj, Isfahan, Qom, and Kermanshah. Videos circulating on social media depict scenes of panic as people flee the blast sites, with sounds of screaming audible in the background. Verified images from Tehran show explosions occurring less than one kilometer from Khamenei’s compound.
The Brazilian government has condemned the attacks, expressing “grave concern” and emphasizing the need for a negotiated resolution, a position traditionally held by Brazil in the region. A statement released by the Ministry of Foreign Affairs urged all parties to respect international law and exercise restraint to prevent further escalation and protect civilians and civilian infrastructure. Brazil’s embassies in the region are monitoring the situation and providing assistance to Brazilian citizens.
While the immediate impact on Brazil’s trade relationship with Iran appears limited, economists are focusing on the potential disruption to global energy markets. Bilateral trade between Iran and Brazil totaled $3 billion in 2025, representing approximately 0.04% of Brazil’s total international trade ($628 billion), according to the Ministry of Development, Industry, Trade and Services. Brazil’s imports from Iran, including urea, pistachios, and dried grapes, amounted to $84.5 million, while exports to Iran, primarily corn, soybeans, and sugar, reached $2.9 billion.
“I believe prices could rise, but there is no reason to believe that imported goods could not be substituted,” stated Felipe Camargo, chief economist for emerging markets at Oxford Economics, suggesting the direct trade impact on Brazil would be manageable.
The primary concern centers on the Strait of Hormuz, a critical maritime route located between Iran and Oman, through which approximately 20% of the world’s daily oil consumption and liquefied natural gas supply passes. Iran has previously threatened to close the strait, though such threats have not been fully realized, with past instances limited to partial closures for military exercises.
A complete blockage of the Strait of Hormuz would disrupt energy supplies to major consumers like China and Europe, potentially leading to higher oil prices and global economic instability. Camargo explained that increased oil prices could reduce expectations for interest rate cuts by the U.S. Federal Reserve, which in turn could strengthen the U.S. Dollar.
The consequences for Brazil would be mixed, with a short-term impact on inflation and Brazilian interest rates, and a potential increase in profit margins for oil companies, including Petrobras. Increased fuel taxes could also boost federal revenue, as demand for fuel is relatively inelastic. Yet, the extent of these effects will depend on the intensity and duration of any disruption to the strait.
As of Saturday afternoon, the Iranian government has not issued a comprehensive statement detailing the extent of the damage or outlining its long-term response.
