Iran and Iranian-backed militias have fired missiles at Israel and Arab states, reportedly hitting the American embassy compound in Kuwait, while Israel and the United States pounded targets in Iran as the war in the Middle East expanded on Monday.

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Military operations by the US and Israel in Iran mark the most intense escalation since the June 2025 conflict.

Israeli foreign minister Gideon Sa'ar told Euronews in an interview that the military strikes conducted alongside the United States are designed to 'create the conditions to weaken the regime enough to allow the Iranians to take their future into their own hands' as operation continues.

Portfolio positioning should be scenario-driven, with a focus on Iran conflict timelines and outcomes. Read the full analysis here.

Timeline: How joint US-Israeli strikes on Iran unfolded as war escalates in Middle East - Trump urged Iranians to rise up and topple Islamic leadership after US launched ‘major combat operations’