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Israel says Iran war entering ‘decisive phase’

Xenia. W by Xenia. W
14 March 2026
in Business, News
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Israel said the war against Iran was entering its “decisive phase” on Saturday, as explosions rocked cities across the Middle East, with strikes on the US embassy in Baghdad and a major Emirati energy facility.

Black smoke rose above Washington’s embassy in Iraq, the second time it has been targeted since February 28, when the United States and Israel attacked Iran and plunged the Gulf into a conflict that has sent shockwaves through the global economy.

Millions have been displaced by waves of drone, missile and aerial bombing, while more than 1,200 people have reportedly been killed in Iran, with little sign of the conflict slowing down as it entered its third week.

Clouds of dark black smoke were also rising Saturday from Fujairah, home to a major Emirati oil storage and export terminal, shortly after Iran’s military warned UAE civilians to avoid port areas.

Israel’s Defence Minister Israel Katz said the war was entering a “decisive phase”, even if he cautioned that it would “continue as long as necessary”.

Yet, despite facing superior US and Israeli firepower, Iran appears determined to fight on. It has launched missile and drone attacks against at least 10 of is neighbours and has choked off traffic through the vital Strait of Hormuz.

Israel’s army warned people in an industrial zone of Tabriz in northern Iran to evacuate, signalling an imminent attack.

The hit on the US embassy in Baghdad followed strikes against the powerful Iran-backed group Kataeb Hezbollah, killing two members including a “key figure”, security sources said.

President Donald Trump said Friday that US forces had struck Iran’s Kharg Island, its biggest oil export hub, and “obliterated every MILITARY target” while sparing its energy facilities.

Iranian media confirmed the island’s oil facilities were unaffected. Iran had threatened US-linked oil and energy firms would be “turned into a pile of ashes” if they were hit. (AFP)

Edited by Thomas McAlinden

Tags: BusinessFinance
Xenia. W

Xenia. W

Xenia is a Hong Kong–based writer and content creator focusing on financial markets, policy and the city’s evolving economic landscape. With over ten years of experience in higher education and tourism‑related projects, she specialises in transforming complex information into clear, reader‑friendly insights for both professional and general audiences. ​ Drawing on a background in bilingual Chinese–English translation and editing, Xenia writes across topics including Hong Kong and US stocks, market structure, macro trends and how policy shifts affect everyday investors.

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