Iran’s Kharg Island is home to a terminal through which the country exports most of its oil. The Persian Gulf island has emerged as a focus of the war launched by the United States and Israel. Strikes on oil infrastructure on Kharg — or a ground invasion — would severely curb Iran’s oil exports, a key source of revenue for the Islamic Republic. An assault would also mark a major escalation that could provoke even heavier retaliatory attacks on Gulf infrastructure. That would further drive up oil prices that already threaten the world economy.