US and Israel Intensify Military Operations Amid Escalating Tensions with Iran

The United States and Israel have intensified military operations against Iran, targeting critical infrastructure and responding to Iranian missile attacks. On March 18, 2026, Israel conducted airstrikes on Iran's South Pars gas field and the Asaluyeh oil refinery, aiming to disrupt significant revenue sources for the Islamic Revolutionary Guard Corps. This action led to a 12% reduction in Iran's total gas production and halted operations at two refineries. In retaliation, Iran launched missile and drone attacks on energy facilities across the Persian Gulf region, including Qatar's Ras Laffan Industrial City, causing extensive damage.

The conflict has also impacted the Strait of Hormuz, a vital waterway for global oil shipments. On March 19, the U.S. initiated an aerial campaign targeting Iranian naval vessels and drones to reopen the strait, which Iran had closed in response to earlier attacks. The operation involved deploying A-10 Thunderbolt II jets and AH-64 Apache gunships to neutralize threats to international shipping.

In a significant escalation, Iran attempted a missile strike on the joint UK-US military base on Diego Garcia in the Indian Ocean. The missiles failed to hit their target, but the attack underscored Iran's expanding missile capabilities and the potential reach of its space program.

Domestically, Iran's Basij force, a volunteer paramilitary group linked to the Revolutionary Guard, has been targeted by Israeli operations. Despite the elimination of key commanders, the Basij continues to maintain control through surveillance, patrols, and arrests, particularly focusing on individuals circumventing Iran's internet restrictions.

The ongoing conflict has led to significant global economic repercussions, with oil prices surging over 40% since the onset of hostilities. The disruption of energy supplies and the closure of critical shipping lanes have raised concerns about global energy security and economic stability.