By Srija Kumar
Reports have emerged that explosions have been witnessed in some Gulf cities, with air raid sirens going off in Tel Aviv, as Iran launches retaliatory strikes following the weekend attacks by Israel and the United States on its cities.
Reports by major news organisations indicate air defense systems going into action in some cities in the Gulf region. This is after projectiles were seen flying over Dubai, Abu Dhabi, and Doha. Authorities in the United Arab Emirates and Qatar have stated that majority of incoming missiles and drones have been shot down. Authorities in Bahrain have also stated that sirens have gone off just as a precautionary measure.
Reports indicate some people have suffered injuries in the United Arab Emirates due to falling debris from the interceptions, however the exact figures have not yet been revealed. Airports in Dubai and Abu Dhabi have delayed flights, citing such security reasons and restrictions.
Reports indicate that the Israeli military has stated several missiles to have been launched into central areas, with sirens going off in Tel Aviv and other areas.The Israel Defense Forces reported that its air defense systems had successfully intercepted some threats. The latest round of escalation comes after coordinated attacks were carried out on Iranian military targets this Saturday. The United States and Israeli governments reported that the attacks targeted strategic targets that were connected with security threats in the region. Iranian state media suggests that counterattack will be ongoing and is a response to acts of aggression.
The region’s financial markets have reacted to the latest developments, with Gulf markets showing volatility. Oil prices are increasing globally because of the developments.
Financial analysts have raised some concern about uncertainty surrounding Strait of Hormuz, which seems to have had a major influence on the markets.
International leaders have called to show restraint and suggest all parties to de-escalate the violent tensions. Diplomatic efforts have been ongoing from major parties, although a ceasefire or deal has not yet been announced.