The violence threatened to unravel a fragile truce in effect since April 8 that brought an end to weeks of U.S.-Israeli attacks on the Islamic republic, which has retaliated with strikes across West Asia and by blocking the strait, a vital route for oil and gas shipments.

Mainland Chinese and Hong Kong stocks slipped on Friday, as ​renewed hostilities broke out between the ​United States and Iran, threatening a shaky ceasefire, while investors ​awaited next week's meeting between top leaders of the world's two largest economies.

The U.S. conducted strikes against Iranian targets on Thursday.

President Trump insists the ceasefire with Iran remains in effect despite an exchange of attacks that Tehran says "crossed the point of no return."

UAE activates air defense system amid renewed Iranian attacks • US targets Iraq with sanctions for aiding Iran • Iran can last for months under US blockade, US officials say

US strikes Iran LIVE updates: Strait of Hormuz continues to be under blockade by the US and Iran and has unleashed the biggest oil supply shock in history, sending energy prices sharply higher.

Iran has strongly pushed back against a reported US intelligence assessment claiming its missile capabilities were significantly weakened after weeks of American and Israeli bombardment, with Iranian Foreign Minister Abbas Araghchi asserting that Tehran remains fully prepared to defend itself.

The US Treasury has unveiled new Iran-related sanctions, targeting Iraqi individuals and firms, including Deputy Oil Minister Ali Maarij Al-Bahadly. He was accused of facilitating “the diversion of oil to be sold for the benefit” of Iran’s government and Iran-backed groups, alongside other sanctioned officials and companies.