US-Iran war spreads: Israel bombs Hezbollah targets in Beirut; Gulf nations vow to defend themselves — key points
Times of India
by TOI WORLD DESKMarch 2, 2026
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A joint US-Israeli military operation has escalated sharply, resulting in the death of Iran's Supreme Leader Ayatollah Ali Khamenei and triggering widespread retaliatory strikes across the Middle East. The conflict has drawn in Gulf nations, who have pledged to defend themselves against Iranian attacks, while Hezbollah in Lebanon has launched its own strikes on Israel, breaking a long-standing ceasefire. This escalating violence has raised fears of a broader regional war, with global markets reacting to heightened instability and rising oil prices.
The situation began to unravel when Israeli forces targeted Hezbollah positions in southern Lebanon following repeated rocket attacks from the group. At least 31 people were killed in Israeli strikes on Beirut, as residents fled their homes en masse under evacuation orders. Meanwhile, Iran has retaliated with drone and missile attacks on Israel and Gulf states, including Bahrain, Dubai, and Doha. The US has also faced consequences, with explosions reported at its bases in Iraq and Kuwait.
Gulf nations have taken a firm stance against Iranian aggression, with Saudi Arabia and the UAE among those preparing to defend their territories. The conflict's spread has drawn international condemnation and support, with global markets experiencing significant volatility. In India, stock indices fell sharply due to concerns over Middle East tensions and rising oil prices, impacting sectors like oil marketing, aviation, and chemicals.
The conflict's impact extends far beyond the region. Global trade and energy markets hang in the balance, with crude oil prices surging amid fears of supply disruptions. The US has reaffirmed its commitment to continuing military operations until all objectives are met, while Iran's top security official dismissed
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Originally published on Times of India on 3/2/2026