Tensions across West Asia continue to escalate as the military conflict involving the United States, Israel and Iran has entered its eighth day. The conflict began on February 28 with a high-profile strike in Tehran and has since expanded beyond limited air attacks into a broader multi-front war, including naval confrontations in the Indian Ocean and drone operations across the Gulf region. In a sign of Washington’s tougher stance, President Donald Trump announced on Truth Social that talks with Tehran will not resume unless Iran agrees to what he described as an “unconditional surrender.”
For the last one week, the US and Israel have carried out a series of heavy strikes inside Iran, hitting key military installations, senior leadership targets and facilities linked to its nuclear programme. However, the objectives and possible timeline of the campaign appear to be evolving, with Washington at times signalling that regime change or the emergence of alternative leadership within Iran could be a potential outcome. The conflict has also rattled global markets, pushing oil prices to their highest level since 2023, while a disappointing US jobs report added pressure on equities, leaving Wall Street with its worst weekly performance since October.
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