US & Israel Launch Strikes on Iran
The U.S. and Israel have launched coordinated air and missile strikes against military targets in Iran under the codename "Operation Epic Fury." The Israeli Defense Ministry called it a "preemptive strike" to neutralize Iran's ballistic missile program. In a direct call for regime change, President Trump urged the Iranian people to "overthrow their government." The escalation sent oil prices surging and stocks tumbling.
Tensions between the U.S., Israel, and Iran are not new, but have historically involved proxy conflicts and covert operations rather than direct, overt military strikes. A notable instance of covert action was the Stuxnet computer worm, believed to be a joint U.S.-Israeli cyberweapon, which significantly damaged Iran's nuclear centrifuges in 2010. The relationship between Iran and Israel was not always hostile; they maintained close ties until the 1979 Iranian Revolution, after which Iran cut off all diplomatic relations. Similarly, U.S.-Iran relations were formally severed in 1980 following the seizure of the American Embassy in Tehran. This recent escalation follows a period of heightened internal unrest within Iran. Beginning in late December 2025, mass protests sparked by a currency collapse and soaring inflation evolved into nationwide demonstrations calling for an end to the Islamic Republic. The government responded with a severe crackdown, resulting in thousands of deaths and widespread internet shutdowns. Iran possesses the largest and most diverse ballistic missile arsenal in the Middle East, with some missiles capable of reaching Israel and parts of southeastern Europe. Its inventory includes the Sejjil and Khorramshahr-4, and Iran has developed underground "missile cities" to protect these assets from preemptive strikes. In response to the strikes, Iran has launched retaliatory missile attacks on U.S. military assets in several Gulf states, including Kuwait, the UAE, Bahrain, and Qatar. Iran's strategic options also include mobilizing its network of regional proxy forces, such as Hezbollah in Lebanon and the Houthis in Yemen, and launching cyberattacks. International reactions to the strikes have been mixed. European Union officials have expressed grave concern and called for restraint, while Russia has condemned the attacks as a "reckless step" and an "unprovoked act of aggression." Oman, which had been mediating talks between the U.S. and Iran, expressed dismay that diplomatic efforts were undermined. Historically, conflicts in the Middle East have caused significant oil price volatility. The 1990 Gulf War, for instance, saw oil prices more than double in six months. While the current global market is considered oversupplied, in part due to increased U.S. shale oil production, a prolonged conflict threatening the Strait of Hormuz—through which 20% of the world's oil passes—could still lead to a sharp spike in energy prices.
