US-Israeli Strikes on Iran Continue, Impacting Civilians and Global Markets
The ongoing conflict between the United States, Israel, and Iran continues to escalate on its ninth day, causing civilian casualties, striking infrastructure, and inciting global concern. The attacks have been reported to have far-reaching effects, not only affecting Iran, but also causing disruptions in the Gulf region, and impacting global travel and oil prices.
Background and Context
The US and Israel have been conducting airstrikes on Iran, with over 10,000 bombs and missiles dropped on the country, a record number. These strikes have targeted oil storage depots and refining facilities, residential units, commercial units, schools, and medical centers, including the Gandhi Hospital in Tehran, which had to be evacuated due to damage from the strikes.
Iran, in retaliation, launched missiles and drones at Israel and US military sites, causing damage in parts of Saudi Arabia and Dubai. The Iranian government reports that more than 1,300 people have been killed since the war began, with thousands more reported wounded.
Key Developments
Iran's leadership has been shaken by these events. President Masoud Pezeshkian announced a temporary suspension of attacks against neighboring countries, unless Iran was attacked from their territory. However, Mojtaba Khamenei, son of the slain Supreme Leader Ali Khamenei, has been nominated as the new Supreme Guide, despite threats from the Israeli Defense Forces (IDF) to assassinate anyone replacing the slain Ayatollah Ali Khamenei.
The conflict has spilled over into other countries in the region. The Arab League, representing 22 member countries, met to define a joint strategy in response to Iran's attacks on Gulf Persian countries. In addition, a drone attack damaged a water desalination plant in Bahrain and Dubai International Airport was struck by a drone.
Implications and Reactions
The ongoing conflict has had significant global repercussions. Airspace closures across the Middle East have left tens of thousands of travelers stranded, forced airlines to divert routes, and threatened to derail the fragile recovery in Asia’s tourism and aviation sectors. Hong Kong-based Cathay Pacific suspended its Dubai services until Thursday due to the strikes.
The war has also affected oil prices, with Brent crude trading at $78.83 a barrel, up $1.10, or 1.4 per cent. Market analysts say the risks remain skewed to the upside as long as the conflict continues to escalate.
President Donald Trump has been criticized for the US's involvement in the war. Dubai-based billionaire Khalaf al-Habtoor accused Trump of dragging the US’s energy-rich Gulf partners into a war they did not want and betraying the American people by putting war at the “top of his priorities”.
Current Status
As of now, the US-Israeli strikes on Iran continue with no clear end in sight. The impact of these strikes is being felt globally, causing concerns about civilian casualties and disruptions in global travel and oil prices. The situation continues to evolve, causing uncertainty and fear as the world watches and awaits a resolution.