Iran Shipping Attacks Deepen Global Economic Concerns
12 March 2026 8:37 AM IST12 March 2026 8:37 AM IST
The U.S. campaign of airstrikes in Iran is now in its 12th day with no end in sight
Thai cargo ship, Mayuree Naree, that was struck and set ablaze in the Strait of Hormuz Wednesday (AP)
The ongoing American-Israeli war with Iran , for all its complexity and global effects, boils down to a single question: Who can take the pain the longest? A surge in oil prices points to what may be Iran’s most effective weapon and the United States’ biggest vulnerability in continuing the campaign: Damaging the world economy.
Wednesday’s major developments include Iranian attacks against commercial ships around the Strait of Hormuz and Dubai International Airport, escalating a campaign of squeezing the oil-rich Gulf region as global energy concerns mount.
The U.S. campaign of airstrikes in Iran is now in its 12th day with no end in sight. A U.S. commander says artificial intelligence has helped the military hit more than 5,500 targets in the country. An Israeli intelligence assessment also indicates that Iran’s new supreme leader, Ayatollah Mojtaba Khamenei , was wounded at the start of the war.
Witnesses in Tehran said they heard loud airstrikes and heavy anti-aircraft fire Wednesday, and columns of smoke made the sky overcast as a layer of gray dust settled over the city. The air is filled with the distinctive smell of burnt powder and gasoline. They spoke on condition of anonymity to avoid reprisal.
The Israeli military is also striking Iran and its militant ally Hezbollah in Lebanon, where more than 800,000 people have been displaced by the fighting .
( Source : AP )
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