Iran escalates attacks on infrastructure and transport networks across the Gulf | First Thing

Iran significantly escalated attacks on civilian infrastructure and transport networks across the Gulf on Wednesday, targeting commercial ships and Dubai's international airport. These actions occurred as US and Israeli warplanes launched new strikes. The UAE, particularly Dubai, has borne the brunt of these attacks, facing an existential threat as foreigners flee. The escalation has caused oil prices to rise above $100 a barrel, with Iran threatening a long "war of attrition." Meanwhile, a review revealed the US defense secretary has voiced extreme antipathy towards Iran for years. A bill addressing the situation has passed the House, but lacks the necessary votes in the Senate due to filibuster rules.

The article analyzes the escalating conflict between Iran, the US, and Gulf nations in March 2026, highlighting its impact on regional stability and economies. Increased Iranian missile and drone attacks are disrupting trade, forcing airlines to reroute, and causing foreign investors to question the safety of investments in Gulf cities like Dubai and Doha. The conflict intensified after the 2020 US assassination of Iranian commander Qassem Soleimani, leading Iran to become more cautious but also raising questions about the effectiveness of US military bases in deterring Iran. The war challenges the Gulf states' economic model, which relies on regional stability to attract global investment. The potential for further escalation between Iran and the US remains a concern.