US and Israel Launch Major Military Campaign Against Iran

On February 28, 2026, Donald Trump and Benjamin Netanyahu authorized a coordinated military campaign, termed Operation Epic Fury by the U.S. and Operation Roaring Lion by Israel, targeting Iran's nuclear program and military infrastructure. The initial strikes killed Supreme Leader Ayatollah Ali Khamenei, who was succeeded by his son, Mojtaba Khamenei. The conflict quickly expanded into a regional war, with Israel invading southern Lebanon to combat Hezbollah and Iran launching retaliatory missile and drone strikes across the Gulf, targeting U.S. bases and energy facilities in Saudi Arabia, Qatar, the UAE, Bahrain, and Kuwait.

Iran responded by effectively blockading the Strait of Hormuz, disrupting approximately 20% of global oil and LNG supplies. This triggered the largest energy supply disruption in history, driving Brent crude prices above $120 per barrel and causing sharp spikes in global fuel costs. To stabilize markets, the International Energy Agency coordinated a record release of 400 million barrels of emergency oil reserves, with the U.S. contributing 172 million barrels from its Strategic Petroleum Reserve.

Military operations intensified through March, with the U.S. striking over 15,000 targets and destroying numerous Iranian naval vessels. Israel conducted a "decapitation strategy," assassinating senior officials including security chief Ali Larijani and Intelligence Minister Esmail Khatib. Despite claims of victory from the White House, the conflict has caused massive casualties, with over 3,000 reported dead in Iran and over 1,000 in Lebanon. Diplomatic efforts mediated by Pakistan have remained stalled as Iran rejected a 15-point U.S. peace proposal, demanding war reparations and sovereignty over the Strait of Hormuz.