Wednesday, March 4, 2026-Gulf nations aligned with the United States have successfully defended against a barrage of Iranian missiles and drones over the past 72 hours, even as President Donald Trump warned that a much larger phase of military action is imminent.
From the deserts of the United Arab Emirates to Kuwait’s airspace, advanced air defense systems have intercepted hundreds of hostile projectiles launched in response to ongoing U.S.–Israel operations against Iran targets. Officials report no catastrophic damage to critical infrastructure so far, but the intensity of attacks highlights rapidly expanding tensions across the region.
Trump, speaking in a series of interviews this week, stressed that the initial phase of the campaign — dubbed “Operation Epic Fury” — is only the beginning, and that the “big wave” of strikes on Iran has yet to unfold.
With goals that include degrading Iran’s missile capabilities, navy, and support networks for regional militias, Washington’s strategy is clearly aimed at a prolonged campaign rather than a quick engagement. The president also offered cautious optimism, claiming the U.S. remains ahead of schedule despite widespread retaliation by Tehran and its allied forces.
For Gulf economies and global markets, the stakes couldn’t be higher. The Strait of Hormuz — a vital artery for nearly a fifth of the world’s oil supply — has seen shipping disruptions, while energy prices spiked sharply amid fears of further escalation.
Governments in the region are reinforcing civilian defenses and urging calm, but business leaders are bracing for potential supply chain shocks. With the crisis evolving daily, investors and policymakers alike are watching for signs of either intensified conflict or last-minute diplomatic breakthroughs that could stabilize markets.
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