US Central Command said US forces began striking IRGC targets at 12 pm ET.

The announcement came amid renewed tensions in the region, with President Donald Trump warning Tehran that a much larger attack could follow if Iran retaliates.

Iran reports projectiles hitting two cities

Iranian state media meanwhile reported that four projectiles struck areas in Chabahar and Konarak, east of the Strait of Hormuz.

The official IRNA news agency, citing provincial official Ali Khalilabadi, reported that the projectiles hit the two counties but did not provide details about casualties or damage.

The Strait of Hormuz remains closed after months of conflict, while the US continues its counter-naval blockade of Iranian ports.

US, Iran exchange fresh strikes

The latest escalation follows a US strike on Sunday targeting an Iranian island, in what was Washington's first reported attack on Iran in several weeks.

The US said its forces struck Iranian rocket launchers on Larak Island to prevent Tehran from laying additional mines in the key shipping route.

Iran responded by launching missiles at US bases in Jordan, which were intercepted, while the United Arab Emirates said it had also intercepted an Iranian drone over its waters.

Trump warns of ‘much harder’ attack

Trump, in a post on Truth Social, warned Iran against retaliating for the latest US strikes, saying Tehran would face attacks at a significantly higher level if it responds.

"If the failed Nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said, adding that this would not be "the biggest attack of them all".

He warned that the larger attack was "waiting in the wings" and could leave "very little left" of the Islamic Republic.

‘That doesn't mean we won't smack them’: Trump

Trump had on Monday described Iran as a "failed nation", claiming that its leadership had been killed, its military severely weakened and its economy devastated following US and Israeli bombardment.

However, he indicated that further military action remained possible.

"That doesn't mean we won't smack them," Trump told reporters. "We'll see what happens."

Trump’s ‘Economic D-Day’ strategy

The latest military escalation comes after Trump appeared to shift toward an economic pressure campaign against Iran last month, promising an "economic D-Day" against a country that has endured nearly five decades of US sanctions.

The Trump administration argued that sustained economic pressure could eventually push Tehran to a breaking point.

However, the conflict has also put pressure on US stockpiles of advanced weapons, while the war has proved unpopular with sections of the American public and could pose political risks for Republicans ahead of the November midterm elections.