RED SEA — The U.S. Navy has sunk the Iranian frigate IRIS Dena after the vessel engaged American warships in the Red Sea, the Pentagon confirmed Friday morning. The confrontation marks a dramatic escalation in U.S.-Iran naval tensions and is the first time American forces have destroyed an Iranian warship since the 1988 Operation Praying Mantis.

According to U.S. Central Command, the IRIS Dena fired upon USS Cole and a second destroyer after refusing multiple warnings to stand down. American forces returned fire with anti-ship missiles, sinking the Iranian frigate within minutes. The fate of the Iranian crew remains unknown, with U.S. rescue operations reportedly underway.

The Pentagon stated that the Iranian vessel had been shadowing the USS Abraham Lincoln carrier strike group for several days before the confrontation. Intelligence officials believe the IRIS Dena was part of a coordinated Iranian naval operation in response to Israeli airstrikes earlier in the week.

Iran's government has condemned what it called an "act of war" and vowed retaliation. The Strait of Hormuz, through which approximately 20% of the world's oil passes, is now under heightened security alert.

Oil prices surged to record highs following the news, while international diplomatic channels were described as working overtime to prevent further escalation.