LIVE | West Asia conflict: Iran warns ready for long war that would 'destroy' world economy

Iran's military vowed on Wednesday to launch strikes against US and Israeli economic targets in the region, including banks, after overnight attacks hit an Iranian bank.

Summary

The West Asia conflict, triggered by US-Israeli strikes on Iran, entered its 13th day as Tehran unleashed a wave of retaliatory attacks on Israel and Gulf states, and amid rising tensions over a blockade in the Strait of Hormuz, through which about 20% of the world’s oil and gas trade passes.

DAY 13 | TOP DEVELOPMENTS

• 'Most intense' strikes: Iran retaliated with a wave of attacks on Israel and Gulf nations on Wednesday, including targeting a Saudi oilfield, Qatar, the UAE, Kuwait. The IRGC said it had carried out its “most intense and heaviest” salvo, firing missiles for three hours at cities across Israel.

• Cargo ship hit in Hormuz: An unknown projectile hit a cargo ship near the strategic Strait of Hormuz abutting Iran on Wednesday, causing a fire and forcing the crew to evacuate. A second container ship was hit off the coast of the UAE by an unidentified projectile.

• India condemns attack: India condemned the attack on a Thai commercial vessel in the strategically vital Strait of Hormuz.

• Trump says 'nothing left to target': Donald Trump again signaled there could be a swift ending to the US war on Iran, saying there is little left in the country for US forces to attack.

• Mojtaba 'safe and sound': Iran's new supreme leader Mojtaba Khamenei is "safe and sound" despite reported injuries, the son of Iran's president said on Telegram. State television had called Khamenei a "wounded veteran of the Ramadan war" but never specified his injury.

• Lebanon death toll: Lebanon said the death toll in 10 days of fighting between Israel and Hezbollah during the Middle East war had reached 634, while more than 800,000 people have registered as displaced.

• Protester 'enemies': Iranian protesters will be treated as enemies if they support Tehran's foes, the country's top police officer warned.

• Iran's civilian sites targeted: Explosions rocked Tehran as Iran says US and Israeli forces have bombed nearly 10,000 civilian sites in the country, and killed more than 1,300 civilians since the war began 11 days ago.

• US hits Iranian mine-laying vessels: US forces have destroyed 10 Iranian mine-laying vessels, President Donald Trump said, warning Tehran of unprecedented military consequences if it targets the Strait of Hormuz.

• Israel hits apartmet in Beirut: An Israeli strike hit an apartment in central Beirut, state media reported, the second targeting the heart of the Lebanese capital since the start of the latest war. Meanwhile, Iran accused Israel of killing four of its diplomats in a weekend strike on a seafront Beirut hotel in what it called a "terrorist attack."

Iran military says will hit US, Israeli economic targets in region

Iran's military vowed on Wednesday to launch strikes against US and Israeli economic targets in the region, including banks, after overnight attacks hit an Iranian bank.

"The enemy has given us free rein to target economic centres and banks belonging to the United States and the Zionist regime," the military's central operational command, Khatam Al-Anbiya, said in a statement carried by state TV.

It urged people across the region to refrain from going within one kilometre (half a mile) of banks.

Oil reserves tapped

The International Energy Agency said its 32 member countries would unlock 400 million barrels of oil from their reserves -- the biggest such release ever -- to ease the impact of the war.

Lebanon toll rises to 634

Lebanon said the death toll in 10 days of fighting between Israel and Hezbollah during the Middle East war had reached 634, while more than 800,000 people have registered as displaced.

Iran warns ready for long war that would 'destroy' world economy

Iran said it was ready for a long war of attrition that would "destroy" the world economy, after firing on two commercial ships and threatening any vessels from the US or its allies.

As Tehran tightened its chokehold on the Strait of Hormuz, a vital sea passage for the global oil trade, US President Donald Trump said the war would end "soon" as there was little left for US forces to target in Iran.

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India condemns attack in Strait of Hormuz on Thai ship en route to Kandla

India on Wednesday condemned the attack on a Thai commercial vessel in the strategically vital Strait of Hormuz.

In a statement, the Ministry of External Affairs (MEA) said it had taken note of reports about an attack on the Thai-flagged vessel ‘Mayuree Naree” on March 11 while it was transiting the Strait of Hormuz. The ship was reportedly en route to Kandla.

“India deplores the fact that commercial shipping is being made a target of military attacks in the ongoing conflict in West Asia,” the MEA said.

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