Iranian President Masoud Pezeshkian has officially apologized for the attacks on Gulf countries. He said that the Interim Council has decided that now there will be no attack on neighboring countries. But despite this statement, missile and drone attacks continued on Bahrain, Saudi Arabia and United Arab Emirates (UAE) on Saturday. This raises the question whether the government has complete control over Iran’s army or not.
How much damage was caused by the attacks in Saudi Arabia and Dubai?
According to the latest information, Bahrain has intercepted 86 missiles and 148 drones using its security system. More than 200 missiles have been stopped in Kuwait also in the last few days. Due to drone warning at Dubai International Airport (DXB), flights had to be halted for some time, causing inconvenience to passengers. So far, 9 people are reported dead due to these attacks in Kuwait, which includes two Kuwaiti soldiers.
What was the impact on the market and oil prices?
The direct impact of this tension is visible on the common man’s pocket and business:
Crude Oil: Due to the attacks, the price of Brent crude oil has increased by 10 to 13 percent and crossed $ 80 per barrel.
Stock Market: Saudi Arabia’s stock market fell 4 percent as soon as it opened. Kuwait has halted trading in its markets until further notice.
Insurance: War risk insurance for the Persian Gulf has been stopped from March 5.
shipping: Major shipping companies have stopped the movement of their ships through the Strait of Hormuz.
What does the Iranian government have to say on this?
Iran’s Foreign Minister Abbas Aragchi has said that their military units are currently working in isolation. They are taking action on the basis of the instructions they had received earlier and they do not have direct contact with the Central Command. That is why the attacks are not stopping even after the President’s order. On the other hand, America and the Gulf countries have reiterated their right to self-defense in a joint statement and are keeping an eye on the situation.