What had begun with Hamas’s attack on Israel on October 7, 2023, not only resulted in the complete destruction of Gaza and the deaths of almost 100,000 Palestinians, with uncounted bodies buried under the rubble and thousands more seriously wounded; it ultimately led to a bigger conflict, seriously threatening global peace and the economy. The United States and Israel launched coordinated military attacks on Iran on February 28, 2026, initiating a significant conflict with ongoing strikes and counterstrikes. Known as “Operation Epic Fury” by the US, the campaign targeted Iranian military assets, nuclear and missile facilities, and leadership for regime change, with intensive bombing continuing through early April 2026, meeting partial success.

However, Iran’s perseverance, courage, national cohesion and unexpected retaliation capabilities shocked the invaders. The closure of the Strait of Hormuz significantly increased global oil prices, sending international stock exchanges into a tailspin and hard-hitting the global economic system. Iran’s retaliatory strikes against declared targets in Gulf states such as Qatar, Bahrain, the UAE, Kuwait and the Kingdom of Saudi Arabia further widened the gulf between Iran and the Arab world. As a result, the entire Middle East is on the boil, and the economies of........

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