Iran fired a barrage of missiles and drones targeting countries across the Persian Gulf in the last twelve hours, in a war that’s entered a seventh day with no end in sight.
In the latest development, there are reports that residents in Dubai, the UAE’s largest city, are being sent alerts on their mobile phones warning of a potential missile threat.
Saudi Arabia, Kuwait and Bahrain were among those that came under renewed attack from the Islamic Republic, while Israeli airstrikes hit Tehran and Beirut.
The US-Israeli war on Iran has now left at least 1,332 people dead in Iran so far, and dozens of others have been killed elsewhere in the region in retaliatory strikes.
Six US troops have been killed, all in the first two days of fighting.
President Donald Trump said the US continues to “totally demolish” Iranian forces, telling NBC he wanted to “clean out” Iran’s leadership structure and he had names in mind to take over.
Iran has “no air force, they have no air defence,” Trump said. “Their navy is gone — 24 ships in three days.”
Fears of a protracted war around the strategic Strait of Hormuz, through which a fifth of world’s oil supplies transit, are roiling markets. Crude is headed for its biggest weekly surge since 2022.
Emerging markets, in particular, are seeing a sell-off of their assets. Turkey has spent $12 billion, equal to roughly 15 per cent of its foreign-currency reserves, to keep the lira stable this week.
Bloomberg
