Sunday, March 1, 2026

Closing the Strait of Hormuz Spells Doom for Energy Markets – Expert


Closing the Strait of Hormuz Spells Doom for Energy Markets – Expert
Sputnik



“Analysts already warn of a 10–25% geopolitical premium even without a full blockade, with prices potentially moving toward $100–120 if disruption deepens,” Dr. Hriday Sarma, a professional specializing in international affairs and energy geoeconomics, tells Sputnik.
For countries that import most of the crude they use, Dr. Sarma explains: “This translates into higher fuel and food inflation, widening current account deficits, and currency depreciation risks.”
A surge in insurance costs, freight rates and hedging expenses is also expected, and “sustained volatility” in the markets is almost guaranteed at this point.
None of the oil trade routes out there can provide a “real substitute” to the Strait of Hormuz, he adds.
“Any reliance on escorted convoys or partial rerouting will slow flows, inflate insurance premiums and embed a structural price premium into oil and LNG markets,” Dr. Sarma notes. “Global stakeholders should prepare for tighter supply, higher costs and prolonged volatility.”


Terror fears skyrocket after Iran strikes as FBI issues chilling alert

Terror fears skyrocket after Iran strikes as FBI issues chilling alert


The FBI has issued a chilling warning to Americans as fears grow Iran will strike the US through its terrorist proxies. 

FBI counterterrorism and counterintelligence teams are on elevated alert across the country, according to an agency official.

Terrorism fears are surging in the wake of Donald Trump's military strikes on Iran, as reports circulate that the Islamic regime's supreme leader was killed.

Iran uses a network of proxy militant groups around the globe to carry out violent attacks against Western countries.

The FBI did not say how long the terror alert will remain in effect. Meanwhile, Kristi Noem said Homeland Security is 'in direct coordination with our federal intelligence and law enforcement partners as we continue to closely monitor and thwart any potential threats to the homeland.'

Under orders from the president, the US military launched Tomahawk missiles on Iran in a joint operation with Israel, deploying Air Force and Navy jets. Iran responded to the aggression by launching 'revenge strikes' on US military bases across the Middle East.

Tehran has struck the Fifth Fleet service center in Manama, Bahrain, and claims to have hit bases across the region including in Qatar, the United Arab Emirates and Kuwait.

The Iranians are also using kamikaze drones to strike residential buildings and airports in the Middle East. Footage emerged on Saturday morning showing an Iranian drone crashing into a high-rise apartment building in Bahrain. 

The president warned that US troops could lose their lives, adding that 'we may have casualties.' Casualties from Iran's retaliatory strikes on US bases remain unclear.

Trump was reportedly warned by his top military advisers that Iran could respond to strikes with terror attacks with proxies on US soil.

The president grew frustrated during the planning process to strike Tehran when his generals could not assure him that the risk of U.S. casualties would remain low. 

Trump is already facing fierce political backlash for pulling the US into a new war in the Middle East.

Conservative podcasting titan Tucker Carlson branded Trump's attack 'absolutely disgusting and evil' as the president's MAGA base fractured.

Carlson's break with Trump signals the decision to go to war with Iran could carry legacy-defining consequences for the president.

Trump won the 2024 presidential election with a campaign advocating against regime change wars in the Middle East.

Trump, moreover, slammed 'so-called nation builders' during an investment conference in Saudi Arabia last May, adding they 'wrecked far more nations than they built.'

'And the interventionalists were intervening in complex societies that they did not even understand,' Trump claimed at the time.

Now regime-change and nation building has become the central focus of the Trump administration's foreign policy.

The number of US and Iranian casualties following Saturday's military attacks in the Middle East remains unknown at the moment.  


After Khamenei’s death, Iran’s IRGC vows ‘most ferocious offensive operation in history’ against Israel, US


TOI STAFF


The Times of Israel is liveblogging Sunday


Additional sirens blare in central Israel as south gets early warning

More sirens sound across central Israel amid Iran’s latest ballistic missile attack.

An early warning is also issued in southern Israel as more projectiles are launched.

Civilians in areas where sirens sound are instructed to enter bomb shelters.

The IDF says it is working to intercept the missiles.


Several loud bangs heard over Dubai for second day, witnesses say

Several loud bangs are heard in the Dubai area for a second straight day, witnesses say, as Iran launches retaliatory strikes on the neighboring Gulf states in response to US and Israeli strikes on the Islamic Republic.

Iran has said it will target US bases in the region. It has hit a range of other targets.

Report: 30 bombs were dropped on Khamenei’s palace after rare opportunity emerged

Israel and the US waited for a rare opportunity to target Iranian Supreme Leader Ali Khamenei and top advisers in his palace, The Wall Street Journal reports, without citing sources.

The report says three such meetings were identified by intelligence authorities, leading to the unusual broad daylight strike.

The report says 30 bombs were dropped on the compound.

Incoming missile alarms sound throughout central Israel

Incoming missile sirens sound in central Israel and parts of the northern West Bank due to a missile salvo from Iran, sending millions to bomb shelters.


Explosions, smoke near Iraq airport hosting US-led troops

Loud explosions are heard near Erbil airport, which hosts US-led coalition troops in Iraq’s autonomous Kurdistan region.

An AFP journalist reports seeing thick black smoke rising from the airport area.

Yesterday, US-led coalition forces downed several missiles and explosive-laden drones over Erbil.

Drone infiltration alarms blare in Eilat

As the army declares “over” the event that triggered suspected drone infiltration sirens a short while ago in towns north of Eilat, more such alerts sound in the southern city itself.

That incident it, too, soon declared “over” by the IDF, which provides no additional details.

Iran forms council to temporarily govern Iran after Khamenei’s killing


A council has formed to govern Iran after the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei.

That council is enshrined in law in the Islamic Republic. It is made up of Iran’s sitting president, the head of the country’s judiciary and a member of the Guardian Council chosen by Iran’s Expediency Council, which advises the supreme leader and settles disputes with parliament.

Iran’s reformist President Masoud Pezeshkian and hardline judiciary chief Gholamhossein Mohseni Ejei are on it.

Iranian law says the Assembly of Experts “must, as soon as possible,” pick a new supreme leader.

Iran’s IRGC threatens ‘most ferocious offensive operation in history’ against Israel, US after Khamenei killed

Iran’s Islamic Revolutionary Guard Corps vows to punish the “murderers” of Supreme Leader Ali Khamenei, after his death is confirmed by state television, promising what it says will be the “most ferocious offensive operation in history” against US bases and Israel.

“The hand of revenge of the Iranian nation for a severe, decisive and regrettable punishment for the murderers of the Imam of the Ummah will not let go of them,” the IRGC says in a statement.

“The Islamic Revolutionary Guard Corps, the Armed Forces of the Islamic Republic of Iran, and what it called the vast popular Basij forces will powerfully continue the path of their leader in defending his legacy, standing firm against internal and external plots and delivering what it described as a lesson-giving punishment to aggressors against the Islamic homeland,” it says.

Iran’s cabinet meanwhile warns that this “great crime will never go unanswered.”

Saturday, February 28, 2026

Iran declares 40 days of mourning for Khamenei as US-Israel strikes continue


Iran declares 40 days of mourning for Khamenei as US-Israel strikes continue

Summary
  • Iran's Supreme Leader Ali Khamenei has been killed in Saturday airstrikes, Iran International can confirm.

  • Iran's Islamic Revolutionary Guard Corps Navy warned vessels not to pass through the Strait of Hormuz as Iranian missile strikes continue to hit its Arab neighbors.


  • Ali Shamkhani, a senior adviser to Iran’s supreme leader, was killed during Saturday’s attacks. Several IRGC commanders were also killed in the strikes, according to Reuters.


  • Iran launched missile attacks toward Israel and across Persian Gulf states, with Bahrain, the UAE, Kuwait and Qatar reporting interceptions; one person was killed in Abu Dhabi. 


  • The Pentagon named its mission “Operation Epic Fury,” while Israel dubbed its campaign “Lion’s Roar” and called up thousands of reservists. 


  • Blasts were reported in Tehran, Tabriz, Qom, Karaj, Khorramabad, Kermanshah, Ilam and other cities. Iran’s Supreme Leader’s office in Tehran was targeted, and Iran closed its airspace for six hours.


    IRGC says ‘most devastating’ offensive imminent

    Iran’s IRGC says it is launching what it called “the most devastating offensive operation in the history of the Islamic Republic”, according to a statement published by the semi-official Fars news agency.

    The offensive will begin “in just moments” and target the “occupied territories and American terrorist bases” across the region, the statement said.


    US-Iran strikes disrupt global travel as airlines cancel flights

    Major airports across the Middle East were shut Saturday after US and Israeli strikes on Iran and Tehran’s missile retaliation triggered major disruption to global aviation, Reuters reported.

    Dubai International Airport—the world’s busiest hub for international travel—was closed after sustaining damage during overnight Iranian attacks, while Abu Dhabi and Kuwait airports were also hit. 

    Airspace closures across the region left skies over Iran, Iraq, Kuwait, Israel and Bahrain largely empty as airlines cancelled or rerouted flights

    Tehran confirms death of supreme leader Ali Khamenei

    Iran’s state broadcaster confirmed the death of Supreme Leader Ali Khamenei early hours Sunday local time, hours after US and Israel said he had been killed in they airstrikes Saturday. 

    Shortly afterward, the Iranian cabinet announced seven days of public holiday and 40 days of national mourning.


    Exiled prince Pahlavi says Iran nears 'liberation' after Khamenei

    Iran’s exiled prince Reza Pahlavi has welcomed US and Israeli strikes that killed Supreme Leader Ali Khamenei, saying the moment could mark a turning point in Iran’s long struggle against the Islamic Republic. 

    Writing in an op-ed for The Washington Post, Pahlavi thanked President Donald Trump for supporting the Iranian people and said the final outcome will depend on Iranians themselves.

    “Even with U.S. and Israeli assistance, the final victory will be forged by the Iranian people,” he wrote, arguing that a democratic Iran could transform the Middle East.

    Trump says he knows who calls the shots in Iran after Khamenei’s killing

    President Donald Trump said he knows who is effectively “calling the shots” in Iran after Supreme Leader Ali Khamenei’s killing in US and Israeli strikes, but declined to reveal the name.

    “I know exactly who, but I can’t tell you,” Trump told CBS News in a phone interview Saturday. 

    Asked whether there was someone he would like to see lead Iran, he replied: “Yes, I think so. There are some good candidates.”

    US launched ‘most lethal’ aerial operation against Iran, Hegseth says

    U.S. Secretary of War Pete Hegseth said the United States launched “Operation Epic Fury,” which he described as the “most lethal, most complex, and most-precision aerial operation in history,” carried out overnight on the orders of Donald Trump.

    Hegseth said on X that the US aimed to destroy Iran’s missile program.

    "The United States did not start this conflict, but we will finish it. If you kill or threaten Americans anywhere in the world — as Iran has — then we will hunt you down, and we will kill you," he said.


    More....


The opening salvo


The opening salvo



It started around 8:30 in the morning. Explosions in Tehran. Sirens across Israel. Trump at a podium talking about “defending the American people” from a country 9,800 kilometres away – a country that had not attacked the US in any way, and that Washington had been negotiating with just the day before.

And just like that, we’re at war again.

The strikes were billed as Israeli “preemptive action”. The first wave hit Khamenei’s compound, the Ministry of Intelligence, the Ministry of Defense, the Atomic Energy Agency, the presidential palace, Parchin. Two waves, rapid succession. A decapitation attempt dressed up in the usual vocabulary – precision, surgical, necessary.


What followed was anything but.

The Iranian Defense Minister and IRGC commander Pakpour were confirmed killed. The Head of the Judiciary too. As for Khamenei himself – at the time of writing, nobody actually knows. Israeli media put the odds of him having survived at “slim to none”. An hour later, Iranian state TV announced he would “speak within minutes”. That was hours ago. He still hasn’t appeared. His Foreign Minister, when asked directly, said “he’s alive as far as I know”. Not exactly the confident “the Supreme Leader is in good health” you’d expect from a functioning government.

So either Khamenei is dead and they’re managing the information, or he’s in a bunker somewhere with limited communications. Neither is great for the “this will all be over in four days” thesis.


Worth noting: Iran’s internet was cut early on. Cyber attacks hit IRNA and other state media outlets in the opening hours. The regime went dark on communications almost immediately – which tells you they expected this and had protocols for it, but also means any information coming out of Tehran right now needs to be treated with serious skepticism.

Another thing that was noteworthy: Iran’s response was fast. Remarkablyfast – coordinated strikes on US bases across seven countries within hours. Either they’re extraordinarily well-prepared – which they probably were – or they had some advance warning. China operates reconnaissance satellites that probably tracked the strike packages forming up over Israel and the Mediterranean. Beijing and Tehran share intelligence. Add to that the number of countries whose airspace US and Israeli aircraft transited, the communications that would have involved, and the known history of intelligence penetration in this region, and I wouldn’t rule out that Iran had foreknowledge of the timeline. Someone, somewhere, may have talked.

What’s not in doubt is the scale and speed of what came back.

Within hours, ballistic missiles were in the air. Not a trickle. Wave after wave after wave – at Israel, at Bahrain, at Qatar, at Kuwait, at the UAE, at Saudi Arabia, at Jordan, at Iraq. An Iranian parliamentary official put it succinctly: “We set fire to US bases in seven countries – and that was only a warm-up”.

The US Navy’s 5th Fleet “Jufair” headquarters in Bahrain burned. A Shahed-136 kamikaze drone took out a radar dome inside the base before the ballistic salvos landed, leaving air defenses partially blind before the heavier hits came. Multiple confirmed impacts.

In Qatar, the Al-Udeid Air Base – home of CENTCOM – was hit:

And then the strike that matters the most strategically: the IRGC announced the complete destruction of the AN/FPS-132 Block 5 early warning radar.


This is not a piece of equipment you replace next Tuesday. It cost $1.1 billion. Its range: 5,000 kilometres. Its sole function: detecting ballistic missile launches from deep inside Iran, Russia and China. It gives you the few precious minutes to scramble interceptors before the heavy ordnance arrives.

Kuwait wasn’t spared either. Ali Al-Salem Air Base confirmed hit. Kuwait International Airport struck by a Shahed drone (see below). The US Embassy in Kuwait issued an immediate “Shelter in Place” order. Kuwait – supposedly the logistical rear of any Gulf operation – is now in the middle of it.

Then the UAE. Explosions near the Marina. A missile hitting a hotel on the Palm. Loud bangs over Abu Dhabi, debris falling across Saadiyat Island, Khalifa City, the Bani Yas area. The UAE Ministry of Defense confirmed “successfully intercepting” a second wave – though what they called success involved debris raining on residential areas.

What happens overnight matters more than what happened today. The blinding phase was preparation, not conclusion. Once you’ve confirmed the eyes are gone and the interceptor stocks are degraded, you bring in what you’ve been holding back. We’re almost certainly looking at an escalated barrage in the coming hours – into Israel, possibly at the remaining US naval assets in the Gulf. Iran has explicitly threatened to sink the USS Abraham Lincoln. US warships have reportedly been pulling back toward the Indian Ocean. That tells you something about how the US military is reading the situation.