Israel launched a fresh wave of air strikes on Tehran on Sunday, prompting renewed missile barrages from Iran, a day after the killing of Supreme Leader Ayatollah Ali Khamenei deepened uncertainty across the Middle East and global markets.
Read More: Iran’s leader Khamenei assassinated in US-Israel blitz
The escalating confrontation, involving coordinated US and Israeli action, has rattled sectors from shipping and aviation to energy. The closure of the strategic Strait of Hormuz — a passage for roughly 20% of the world’s oil supply — heightened fears of surging fuel prices and wider economic disruption.
Large-scale US-Israeli strikes pounding Tehran right now.
The regime that screamed “we are victims” louder than anyone just got the receipt for years of radical terror exports.
Victim card rejected — capital on fire.#Khamenei #IranWar #Israel https://t.co/0cu0YynRLg pic.twitter.com/OJamxYwT9w— Mohit Suryavanshi (@SaffronSyndcate) March 2, 2026
US President Donald Trump said the operation aimed to prevent Iran from acquiring a nuclear weapon, curb its missile programme and eliminate threats to the United States and its allies. In an interview with The Atlantic, he said Iran’s leadership had signalled willingness to talk, though he has not outlined longer-term objectives.
As hostilities intensified, Iran’s Revolutionary Guards said they targeted US and UK oil tankers in the Gulf and launched attacks on regional bases. The US military confirmed its first casualties, with three service personnel killed and five seriously wounded.
In Israel, emergency services reported fatalities after Iranian missiles struck residential areas, including the town of Beit Shemesh. Gulf states also reported casualties amid continued bombardment.
Inside Iran, President Masoud Pezeshkian said a temporary leadership council had assumed the Supreme Leader’s duties. Meanwhile, Russian President Vladimir Putin condemned Khamenei’s killing, while China’s Foreign Minister Wang Yi described it as a “blatant killing”.
Read More: Ali Larijani emerges as key figure after Khamenei death
Despite the severe blow, analysts say Iran’s clerical system and the influence of the Revolutionary Guards remain deeply entrenched, leaving the region braced for further instability.