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First Venezuela, now Iran. For the markets, it’s one battle after another

Kwan Wei Kevin Tan
Kwan Wei Kevin Tan • 12 min read
First Venezuela, now Iran. For the markets, it’s one battle after another
Smoke rising from Dubai’s Jebel Ali port after a missile strike conducted by Iran on March 1. Iran has retaliated with a wave of missile strikes on US allies in the Middle East after the US and Israel attacked the country on Feb 28. Photo: Bloomberg
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Investors who thought they could catch a break after the US military strike on Venezuela in January thought wrong. On Feb 28, the US and Israel mounted a joint military strike on their longstanding adversary Iran. The sudden attack appeared to catch the Iranians by surprise and even claimed the life of their Supreme Leader, Ayatollah Ali Khamenei.

“Iran is the world’s number one state sponsor of terror, and just recently killed tens of thousands of its own citizens on the street as they protested. It has always been the policy of the United States, in particular my administration, that this terrorist regime can never have a nuclear weapon,” President Donald Trump said in a video posted on Truth Social on Feb 28.

“For these reasons, the United States military is undertaking a massive and ongoing operation to prevent this very wicked, radical dictatorship from threatening America and our core national security interests,” adds Trump. “We’re going to destroy their missiles and raze their missile industry to the ground. It will be totally, again, obliterated. We’re going to annihilate their navy.”

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