Berliner Boersenzeitung - Israel announces Lebanon ground assault against Hezbollah

Global oil prices have surged by 40 to 50 percent after Iran attacked shipping in the Strait of Hormuz and launched waves of missile and drone strikes on targets in the Gulf, in retaliation for the war launched against it by the United States and Israel.

Trump called over the weekend for countries including China, France, Japan, South Korea and Britain to send warships to escort tankers through strait that is only about 33 kilometres (21 miles) wide at its narrowest point.

The US president told the Financial Times it would be "very bad for the future of NATO" if they refused, and he has threatened to delay a planned summit with Chinese leader Xi Jinping. Japan and Australia have already said they are not planning deployments.

More than two weeks into the Middle East war, Israeli military spokesman Brigadier General Effie Defrin said they still had "thousands of targets in Iran, and we are identifying new targets every day".

Israel also announced the launch of "limited ground operations" against Iran-backed Hezbollah in southern Lebanon, a key front in the wider war.

"This activity is part of broader defensive efforts to establish and strengthen a forward defensive posture," the military said.

The announcement echoes similar statements issued in 2024, when Israel and Hezbollah fought a major war in Lebanon, and in 2023, when the military launched a ground assault in Gaza in response to Hamas's October 7 attacks.

The announcement came hours after Israel conducted fresh strikes on the southern suburbs of Beirut, a Hezbollah bastion which is usually home to hundreds of thousands of people.

Earlier in the war, the Israeli military issued an unprecedented evacuation warning for that entire area, sparking a major displacement crisis in Lebanon. The army has also told people across south Lebanon to flee.

- 'Expel aggressors' -

The war has engulfed much of the region, with Iran responding to Israeli and US strikes with attacks against at least 10 countries that host US forces.

Foreign Minister Abbas Araghchi called on X for other nations to "refrain from any action that could lead to escalation and expansion of the conflict" and urged neighbours "to expel foreign aggressors".

Iran's Revolutionary Guards said about 700 missiles and 3,600 drones had been fired at US and Israeli targets so far.

Dubai's airport, usually the busiest in the world for international flights, said it was gradually resuming activity Monday after a drone strike sparked a fuel tank fire nearby.

The United Arab Emirates has taken the brunt of Iran's attacks -- some 1,800 missiles and drones -- upending travel despite its air defences intercepting almost all projectiles.

Saudi Arabia intercepted more than 60 drones since midnight, its defence ministry said.

Rockets wounded five people at Baghdad's airport, which houses a US diplomatic facility, Iraqi authorities said.

- Defiance -

Iran's rulers have remained defiant despite their supreme leader, Ali Khamenei, being killed on day one.

The new ayatollah, Mojtaba Khamenei, has not been seen in public since the start of the war, reportedly injured in the strike that killed his father.

Despite the violence, some Iranians have sought to restore some normalcy in recent days.

Traffic was busier over the weekend, AFP journalists saw, with some cafes and restaurants reopening and more than a third of stalls in the Tajrish bazaar, a popular shopping hub, open ahead of the upcoming Persian new year.

In Mazandaran province on the Caspian Sea, 49-year-old Ali told AFP shops were crowded despite steep price rises.

"Only the main square is closed every night, and government demonstrations take place," he said, adding that only Iran's domestic intranet was working, without outside connections.

More than 1,200 people have been killed by US and Israeli strikes, according to Iranian health ministry figures that could not be independently verified.

The UN refugee agency says up to 3.2 million people have been displaced in Iran.

An internet blackout imposed by authorities has now entered its 17th day, according to communications monitor Netblocks.

- Oil reserves -

The blockade of Hormuz has been felt across the globe.

The International Energy Agency said members will begin releasing 400 million barrels of oil from their reserves, with Asia Oceania nations to make stocks available immediately, and Europe and the Americas following in the weeks to come.

Japan, which depends on the Middle East for 95 percent of its oil imports, lowered the official level of its reserves on Monday, compelling managers to release part of their stockpile.

Australian officials urged the public against price-gouging and panic buying as prices soar, while India restaurants were forced to adapt their menus to save cooking gas.

burs-er/ser

(B.Hartmann--BBZ)