Tensions across the Middle East escalated sharply as Iran’s Revolutionary Guards declared they now have “full control” of the strategic Strait of Hormuz — a critical corridor for global oil and gas shipments. The Guards warned that any vessel attempting to pass through the waterway could face missile or drone threats.
In response, U.S. President Donald Trump stated that the U.S. Navy stands ready to escort oil tankers through the vital Gulf route if necessary.
Iran also announced it had fired more than 40 additional missiles targeting U.S. and Israeli positions, marking another wave of attacks as the conflict entered its fifth day.
State Funeral Announced for Khamenei
Iranian state media reported that a three-day state funeral for Supreme Leader Ayatollah Ali Khamenei will begin Wednesday evening. Khamenei was reportedly killed during coordinated U.S.-Israeli strikes that ignited the current war.
Following the announcement, Israel’s defence minister issued a warning that any successor could face similar targeting.
Global Markets React
Financial markets across the Gulf plunged when trading resumed after a temporary suspension. Dubai’s main index fell nearly five percent, while Abu Dhabi’s ADX dropped more than three percent.
In Asia, Seoul’s stock market suffered a dramatic decline exceeding 12 percent amid widespread panic selling. Oil prices climbed as investors reacted to the instability surrounding energy routes.
Sirens Sound Across Israel
Air raid alarms echoed through several Israeli cities, including Jerusalem and Tel Aviv, after missiles were launched from Iran early Wednesday. Israel’s military said it moved to intercept the threats, and although no immediate casualties were reported, debris reportedly sparked a fire near Jerusalem.
Regional Fallout Expands
Sri Lanka reported that an Iranian naval frigate carrying 180 crew members was sinking just outside its territorial waters. The cause was not immediately disclosed.
In Lebanon, Israeli airstrikes hit areas in and around Beirut, including the southern suburbs and the eastern city of Baalbek. Lebanese health authorities said multiple fatalities and injuries were recorded.
The Israeli military confirmed it had initiated a new, wide-ranging offensive against targets in Tehran and elsewhere in Iran following fresh missile barrages.
U.S. Military Update
Admiral Brad Cooper, commander of U.S. forces in the Middle East, stated that nearly 2,000 targets inside Iran have been struck so far. He said Iranian air defence systems have been heavily degraded and hundreds of missiles, launch platforms and drones destroyed.
Gulf States on High Alert
Saudi Arabia announced it intercepted two cruise missiles south of Riyadh, while nine drones targeting the kingdom were reportedly downed.
In Iraq, security sources said a drone was shot down near Baghdad’s international airport.
Qatar revealed it had dismantled two alleged spy networks linked to Iran’s Revolutionary Guards, arresting ten suspects.
Meanwhile, a drone strike reportedly caused a fire near the U.S. consulate in Dubai as tensions widened across the Gulf.
Diplomatic Precautions
The United States ordered non-essential staff to depart its consulates in Lahore and Karachi, citing safety concerns. It also authorized voluntary departures for personnel in Saudi Arabia, Cyprus and Oman.
The rapidly expanding conflict is sending shockwaves through global energy markets, financial systems and regional security structures, raising fears of a broader and prolonged confrontation.