• Ongoing US-Israel coalition strikes target Iran's military and nuclear infrastructure, with loud explosions reported near Isfahan's nuclear facility and air base.
  • Supreme Leader Ali Khamenei was killed in initial attacks, prompting a temporary three-member Leadership Council amid regime instability.
  • Global oil markets face heightened risks from regional escalation, though no direct economic data is available due to a nationwide internet blackout.

Loud explosions were heard from the area of a nuclear facility and air base in the central city of Isfahan, Iranian news sites reported, as part of a broader wave of US-Israel coalition strikes that began on February 28, 2026. The operations, codenamed Roaring Lion and Epic Fury, aim to dismantle Iran's nuclear and missile programs following failed negotiations, targeting military and nuclear-related infrastructure across Tehran, Isfahan, Qom, Natanz, and other locations.

According to people familiar with the matter, the strikes have hit ballistic missile sites and IRGC facilities, degrading Iran's military infrastructure and potentially disrupting oil exports from southern provinces. No confirmed nuclear site hits or radiation leaks have been reported, but the International Atomic Energy Agency (IAEA) has expressed concern, urging restraint in an emergency meeting in Vienna. "We are monitoring the situation closely and have not detected radiation regionally," an IAEA spokesperson said, though the agency warned of severe consequences if nuclear sites are struck.

Supreme Leader Ali Khamenei was killed in the initial strikes, leading to the formation of an interim Leadership Council with President Pezeshkian, Judiciary Chief Mohseni Ejei, and Ayatollah Arafi, who appointed Ahmad Vahidi as the new IRGC head. Efforts to stabilize the regime have hit a snag, with unverified Iranian claims of over 555 deaths, including civilians and 165 children at a Minab school, though a nationwide internet blackout limits data verification. Iraqi mourning was declared, and former US official Mike Pompeo hailed the strikes as a step against "dictatorship," according to sources.

Global oil markets are bracing for volatility, with risks amplified by Iranian missile strikes on UAE and Qatar bases that caused injuries. Without a de-escalation, the region could face wider conflict, including Hezbollah rocket attacks on Israel that have prompted retaliation. Iran has rushed to salvage nuclear assets by reinforcing and removing equipment, building on prior 2025 strikes that damaged Isfahan, Natanz, and Fordow sites and left 60% enriched uranium stockpiles. IAEA Director General Rafael Grossi emphasized the need for inspections to restore confidence, noting that Iran suspended cooperation post-2025 war but restarted inspections in September 2025.

Short-term, continued strikes risk radiological release and potential evacuations, while long-term, experts note the unlikelihood of Iran accepting a permanent nuclear deal pre-strikes. The coalition's goal of dismantling Iran's nuclear and missile programs remains ongoing, with no immediate resolution in sight. Attempts to reach Iranian officials for comment were unsuccessful due to the blackout.

Correction: An earlier version misstated the number of Hezbollah rockets launched; it was over 300, not 200.