Iran Vows Retaliation as Conflict Escalates, Threatens Economic Targets
TEL AVIV, Israel – Tensions soared further in the Middle East on Wednesday as Iran’s military vowed strikes against U.S. and Israeli economic interests, including banks, in response to reported attacks on Iranian infrastructure. The escalating conflict, already marked by attacks in the Strait of Hormuz, raises concerns about a wider regional war.
According to a statement from Iran’s Khatam Al-Anbiya central operational command, carried by state TV, the military now has “free rein” to target financial institutions linked to the United States and Israel. The command urged civilians throughout the region to maintain a distance of at least one kilometer from banks.
The Iranian response follows reports of a strike hitting an Iranian bank overnight Tuesday, an incident Iranian Foreign Minister Abbas Araghchi described as a “crime” on X, formerly known as Twitter, promising retribution from Iran’s armed forces. Iranian media reported the strike, which occurred in Tehran, resulted in an unspecified number of casualties among bank staff.
Adding to the growing unease, Iran’s Tasnim news agency published a list of potential targets on Telegram, including offices of major tech companies – Amazon, Google, Microsoft, and Nvidia – located in Gulf countries and Israel. The report suggested a possible expansion of the conflict into “infrastructure warfare.”
The potential targeting of tech infrastructure follows recent disruptions to cloud services in the Middle East. Amazon confirmed last week that two of its data centers in the United Arab Emirates were “directly struck” by drones.
The current escalation builds on existing tensions highlighted by the conflict between Israel and Hamas, which began in October 2023. The Council on Foreign Relations notes this outbreak of war has significantly heightened tensions between Iran and both Israel and the United States. https://www.cfr.org/global-conflict-tracker/conflict/confrontation-between-united-states-and-iran
On February 28, 2026, Israel and the United States launched surprise airstrikes across Iran, marking a significant turning point in the ongoing conflict. https://en.wikipedia.org/wiki/2026_Iran_war
The situation remains fluid and highly volatile, with ongoing attacks reported in the Strait of Hormuz. https://news.google.com/rss/articles/CBMieEFVX3lxTFBNcklLdUM4U2tJa3UwUU9VRHA4d0VrV3NQemJsejVfZ3BCa0U2MmdHODBBWVBIMFlOVVVEb2FsanVhRmR0U1Z3Q085TmF0R3ZwaDZHa0JnOWE4OUhMaU5fREpVTllXMWpSaFlNQzA2dUVJUUUyZlI1Mg?oc=5
Published: March 12, 2026 10:45 am IST.