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Israel Vows to Intensify Strikes on Iran as Conflict Cripples Global Energy Markets


Fri 27 Mar 2026 | 03:51 PM
By Ahmad El-Assasy

Israel’s Defense Minister Yoav Gallant (Katz) announced on Friday that military operations against Iran will "intensify and expand." The statement comes amid an unprecedented military escalation that began on February 28, pushing the Middle East toward a full-scale regional war and sending shockwaves through global energy and food markets.

"A Heavy Price": Israel Targets Iranian Military Infrastructure

During a security assessment with top military officials, Minister Katz warned that the scope of targets within Iran is widening. The new phase of operations aims to dismantle facilities involved in the production and operation of weapons used against Israeli civilians.

"Prime Minister Benjamin Netanyahu and I warned the Iranian regime against continuing to fire rockets at our civilians," Katz stated. "Despite these warnings, the fire continues. Therefore, the strikes will expand to include additional targets. They will pay an increasing and heavy price for this war crime."

The Israeli Defense Forces (IDF) confirmed a massive wave of attacks targeting military infrastructure in Tehran, reportedly striking dozens of missile production sites, factories, and launch platforms.

Diplomatic Tensions and Attacks on Gulf Ports

In a sharp diplomatic escalation, Iran filed a formal protest with the United Nations. Tehran's Permanent Representative, Amir Saeid Iravani, accused several Arab nations—including Saudi Arabia, the UAE, Qatar, and Kuwait—of allowing the U.S. and Israel to use their airspace and territory for attacks.

The conflict spilled over into Kuwaiti territory early Friday. Shuaikh Port and Mubarak Al-Kabeer Port were targeted by a combination of missiles and drones. While Kuwaiti air defenses intercepted several projectiles, the strikes caused material damage to these critical maritime hubs.

Global Economic Fallout: Oil and Fertilizer Prices Soar

The World Bank issued a dire warning on Thursday regarding the "Iranian War's" impact on the global economy. Data reveals a catastrophic shift in commodity prices since the conflict began:

Crude Oil: Prices surged by nearly 40% between February and March.

LNG (Liquefied Natural Gas): Shipments to Asia have risen in cost by two-thirds.

Fertilizers: Prices jumped 50% this month, posing an immediate threat to global food security and upcoming planting seasons.

The Strait of Hormuz Crisis

The potential closure of the Strait of Hormuz remains the greatest concern for international observers. UN Secretary-General António Guterres emphasized that ending the war is the only way to prevent a total collapse of energy and fertilizer supply chains.

Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), warned that a military solution to reopen the Strait is "unsustainable."

"A military force protecting merchant ships will not eliminate the risk entirely; ships remain vulnerable to drones and missiles," Dominguez told La Repubblica.

The IMO is currently negotiating with Iran and Gulf states to establish a "safe corridor" to evacuate an estimated 20,000 sailors currently trapped on vessels within the Arabian Gulf.