Israel hits Tehran and Beirut with 'simultaneous strikes'

Summary

Global News Podcast – “Israel hits Tehran and Beirut with ‘simultaneous strikes’”
Host: Celia Hatton (BBC World Service)
Date: March 3, 2026

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Episode Overview

This episode provides an in-depth look at the escalating military conflict between Israel, the US, Iran, and regional actors, with Israel launching simultaneous airstrikes on Tehran and Beirut. The episode explores the immediate humanitarian, political, and economic impact across the Middle East and extends to global repercussions, particularly in the oil and gas markets. Additional topics include the Anglican Church’s internal divisions and the far-reaching consequences of the conflict in global business and foreign communities.

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Key Discussion Points & Insights

1. Israel’s Simultaneous Strikes in Tehran and Beirut

[01:05–04:33]

• Israel’s actions:

  • New wave of airstrikes targeting Tehran and Beirut, focused on degrading Iran’s military capabilities, including missile launchers, command centers, bunkers, and leadership.
  • Tactical deployment of IDF troops in southern Lebanon for an “enhanced forward defense posture,” not a ground incursion, but creating a buffer for northern Israeli citizens.
  • Hundreds have fled homes in Beirut; Lebanese army pulls back from southern positions.

• On the ground in Beirut:

  • Lina Sinjab describes families fleeing bombing, reminiscent of the 2024 escalation:

    “People here are angry, are frustrated. They've lived through this in 2024 when Israel launched its full-fledged attack on Hezbollah… and now they have to flee again. Their homes that have been destroyed… are still in rubbles and now they have to flee again.” – Lina Sinjab [03:23]

• Historical context:

  • 2024 ceasefire led to a partial Israeli withdrawal; Lebanese army was supposed to prevent Hezbollah’s regrouping.
  • Renewed Israeli operations are framed as defensive due to the potential for cross-border raids and rocket fire from Hezbollah, which remains closely tied to Iran.

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2. Wider Strategic Objectives and Escalation

[06:21–08:01]

• Israeli perspective:

  • Israel is targeting not only Iran’s nuclear program, but also ballistic missile capabilities and Iranian proxies (Hezbollah, Hamas, Islamic Jihad in Gaza, and Shia militias).
  • The war in Gaza in 2024, which weakened Hamas and Islamic Jihad, is seen as a turning point, increasing Israeli resolve with US support.

• Quote:

  “They want to target all aspects of the threat that they see as very sort of real and immediate to them from Iran…including its ballistic missile program and also the proxies, including Hezbollah, including Hamas and Islamic Jihad in Gaza, including Iraqi Shi’a militia…”
  – Yolande Knell [06:33]

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3. Humanitarian Situation in Iran and Civilians’ Experience

[08:01–11:16]

• US and Israeli strikes:

  • US claims destruction of Revolutionary Guard command centers, air defense, and launch sites.
  • Israeli military confirms bombing of the presidential office in Tehran.

• Casualty figures:

  • Iran’s Red Crescent: 787 killed since the airstrikes began (no civilian-military breakdown yet available).

• Situation on the ground (per BBC Persian):

  • Communication is limited by internet outages.
  • Most intense fighting in Isfahan; some relief in Tehran after heavy prior bombardment.
  • Fear and uncertainty prevail, especially among children; some anti-regime figures reportedly relieved at strikes.
  • Essential goods’ prices rising; some stockpiling.
  • Civilians shelter in homes without bunkers; damage reported to civilian infrastructure and hospitals, though Israel denies intentionally targeting medical facilities.

  “Some people have said that their windows were shattered, that their walls have been like rattling… and they can hear fighter jets just passing through their heads like when they're at home.” – Gonche Habibi Azad [10:55]

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4. Global Economic and Political Impact: Oil, Gas, and Energy

[17:48–21:40]

• Energy markets:

  • Oil prices exceed $85/barrel; European gas prices have more than doubled.
  • Iran blocks Strait of Hormuz, a key route for a fifth of global oil and gas; several oil tankers have been attacked.
  • Associated attacks on facilities in Saudi Arabia, Qatar, and UAE; US Embassy in Riyadh hit by drones (limited damage).

• Analysis (Barbara Plett Usher):

  • Drone strikes, while less destructive than missiles, are psychologically disruptive and cause interruptions in travel, energy, and business.
  • Even foiled attacks (e.g., on Hamad International Airport in Doha) disrupt aviation and energy markets.
  • Iran’s tactics aim to induce “chaos and economic disruption” rather than direct destruction.

• Political dynamics:

  • Gulf States are “very much in a defensive mode”; their initial opposition to the war did not prevent escalation, and unity with the US may be tested but currently holds.

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5. Impact on Daily Life in the Gulf States (UAE, Qatar, Saudi Arabia, Bahrain)

[22:59–26:43]

• Personal accounts from the UAE (Monica Marks, NYU Abu Dhabi):

  • Missiles have struck residential buildings and airports in Dubai and Abu Dhabi, disrupting the normal sense of safety:

    “These are really unimaginable images… as shocking for people living and doing business here as it would be to see a city like Miami being bombed.” – Monica Marks [23:03]

  • High interception rates (94%) of incoming attacks, but residents (including international students) experience anxiety, shelter during raids, and disruption.

  • Local authorities try to project calm and competence by making public appearances.

• Implications for business:

  • Drone attacks on facilities (e.g., Amazon’s cloud centers) raise questions about possible capital flight.

  • Sustained or escalating attacks could provoke major business and expatriate withdrawal, especially if infrastructure (power, data centers, desalination) is compromised.

    “If Iran kept on these attacks for… over a week or two at the current tempo... you would see a bigger movement out…”
    – Monica Marks [25:03]

  • Gulf states provide haven and stability to refugees and expats from conflict zones (Iraq, Palestine, Ukraine, Sudan), but this stability is now under threat.

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6. Ripple Effects in Global Markets: The South Korea Case

[26:43–29:18]

• South Korea’s energy security at risk:

  • Nearly all energy is imported, with 70% of oil historically sourced from conflict-affected Gulf states.
  • Closure of the Strait of Hormuz threatens critical supply routes; only limited alternatives for rerouting.
  • Government reassures public with seven months’ stockpile, but investors remain worried.

• Market reaction:

  • South Korea’s KOSPI stock index plunged 7%; emergency trading halts were triggered.

    “It was really, it seemed like there was a lot of fear in the market today.” – Jake Kwon [29:18]

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7. Division within the Anglican Church (Brief Interlude)

[11:16–14:49]

• Appointment of Archbishop Sarah Mulally ignites theological rift:

  • Conservative clergy, meeting in Nigeria, seek alternative leadership, arguing doctrinal grounds against female bishops.
  • GAFCON group asserts itself as “the true church,” deepening schism with the Church of England.

    “They want to be the Anglican Communion rather than just a bit of it… an all male episcopate calling the shots.” – Prof. Dermot McCulloch [13:30]

• Youth perspectives suggest some longing for unity, but the global relationship remains fragile.

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Notable Quotes & Memorable Moments

• On Israel’s objectives:

  “They want to target all aspects of the threat that they see as very sort of real and immediate to them from Iran… proxies, including Hezbollah, Hamas, Islamic Jihad...”
  – Yolande Knell [06:33]

• From Beirut under attack:

  “People here are angry… now they have to flee again... their homes that have been destroyed… are still in rubbles.”
  – Lina Sinjab [03:23]

• On life in war-hit Iran:

  “Their windows were shattered, that their walls have been like rattling… and they can hear fighter jets just passing through their heads like when they're at home.”
  – Gonche Habibi Azad [10:55]

• On Gulf states’ business environment:

  “These are really unimaginable images… as shocking for people living and doing business here as it would be to see a city like Miami being bombed.”
  – Monica Marks [23:03]

• On risk for business withdrawal from the Gulf:

  "If Iran kept on these attacks for… over a week or two at the current tempo… you would see a bigger movement out..."
  – Monica Marks [25:03]

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Important Timestamps

• [01:05] – Main headlines introduced; overview of Israeli strikes.
• [02:17] – Israeli military spokesperson outlines objectives.
• [03:23] – Beirut correspondent describes humanitarian situation.
• [04:33] – Analysis of Israel-Hezbollah-Lebanon border dynamics.
• [06:33] – Israel’s strategic war aims.
• [08:01] – US/Israeli strikes inside Iran; Red Crescent casualty figures.
• [10:10] – BBC Persian: Iranian civil life under bombardment.
• [11:16]–[14:49] – Anglican Church divisions and voices from Nigeria.
• [17:48] – Oil, gas prices surge; analysis of Gulf infrastructure and political dynamics.
• [22:59] – UAE resident perspective (Monica Marks); effects on business and civil society.
• [27:18] – South Korea’s energy and economic fears due to shipping disruptions.

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Conclusion

This episode of the Global News Podcast paints a sobering picture of a Middle East at war, with the shockwaves affecting civilian life, energy markets, business climate, and global geopolitics. The focus on personal stories and regional analysis, along with informed commentary from correspondents and experts, provides a multifaceted view of a conflict whose repercussions reach far beyond the immediate battlefield.

Transcript

[Narrator/Advertiser]

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[Yolande Knell]

this

[Celia Hatton]

is the Global News podcast from the BBC World Service. I'm Celia Hatton and at 1600 GMT on Tuesday 3rd March, these are our main stories. Israel says it's carrying out simultaneous strikes in Tehran and Beirut.

[Clive Myre]

With the U.

[Celia Hatton]

S Israeli war with Iran threatening the oil and gas supply chain, it's not only Middle Eastern countries facing an uncertain future.

[Narrator/Advertiser]

South Korea needs oil and gas to run its power generators and also to feed its enormous petrochemical industry. It's a huge part of South Korean economy.

[Celia Hatton]

And we go to Nigeria to look at deep divisions within the Anglican Church over the appointment of the first female Archbishop of Canterbury. Day four of the U. S Israeli war with Iran and day four two of the fallout from that conflict. We're focusing this edition on what's happening in the region, but also how the war is being viewed. Far away from its original Iranian targets, Israel has launched a new wave of airstrikes on Tehran and on the Lebanese capital, Beirut. The Israeli military has held a briefing. Nadav Shoshani is a spokesperson.

[Narrator/Advertiser]

Our forces, along with the US Armed forces, continue degrading the Iranian Russian regime's military capabilities. We have focused on targeting ballistic missile launchers, command and control centers, underground bunkers, and of course, key Iranian regime leadership figures. Overnight, IDF troops were positioned in southern Lebanon at several points near the border area as part of an enhanced forward defense posture. Let me be clear, this is not a ground maneuver into Lebanon. It is a tactical step to create an Additional layer of security for the residents of northern Israel.

[Celia Hatton]

Hundreds of people have fled their homes in Beirut and Israel has warned that thousands of people in villages near the border must also go. The Lebanese army is reported to be pulling back from positions in the south. Our correspondent Lina Sinjab is in Beirut. I've just come down to the promenade on the seaside of Beirut. This is an area that's normally known for people enjoying the seaside, but now it's fil with families that fled from southern Beirut. You can see them lining up with their cars, with their clothes, with their bags. They fled from the bombing. We're not far from south of Beirut. In fact, you can hear the bombing here by the seaside and sometimes you can even hear the drones, the Israeli drones that are roving over the city and attacking targets in south of Beirut. People here are angry, are frustrated. They've lived through this in 2024 when Israel launched its full fledged attack on Hezbollah, eliminating its top leaders and crippling the group. And now they're living it again. Their homes that have been destroyed in 2024 are still in rubbles and now they have to flee again. The Nassine job in Beirut. Our Middle east correspondent Yoland Nell is in Jerusalem. She too took us back to 2024.

[Yolande Knell]

You have to go back to the 2024 ceasefire deal that was supposed to have ended a year of intense cross border fighting between Israel and Hezbollah. The Lebanese armed group that went on in parallel to the war in really only saw a partial withdrawal of Israeli forces. They did remain in some positions in the very south of Lebanon. But gradually the Lebanese army was supposed to be taking over there and you know, pushing out any remnants of Hezbollah, stopping them from regrouping there. But now, you know, what the Israeli military is basically saying is that it's trying to present this not as a new ground incursion, but creating a buffer zone to protect the Israeli citizens who live in the north of the from Hezbollah attacks. Remember that some 60,000 people had to leave their homes in the north of Israel and some of them have only, you know, recently gone back because of that fighting that went on there previously. And there are concerns, the Israeli military has said, about a kind of cross border raid, attempts by Hezbollah to conduct such a raid, or indeed, you know, that they could get closer to the border to continue with their rocket fire because there have already been in the north Israel since Hezbollah really sort of announced that it was entering into this, this new conflict. And of course you take into consideration here that that had been in Many ways anticipated because Hezbollah is so financially and ideologically linked to Iran. There have been these rocket and drone attacks have been going on, affecting people in the north of Israel, some people, you know, suffering minor injuries there today, people rushing into their air raid shelters.

[Celia Hatton]

Once again, Yolande, just to focus on the wider conflict for a moment, there's been a lot of talk about the strategic objectives of this war. What do you think the Israelis really want to achieve?

[Yolande Knell]

What they have been saying consistently when they've been laying out the case for war is that they want to target all aspects of the threat that they see as very sort of real and immediate to them from Iran. And so that is why they talk about, you know, not just Iran's nuclear program, as much of the world has been talking about the potential threat from that, but also its ballistic missile program. And also the proxies, including Hezbollah, including Hamas and Islamic Jihad in Gaza, including Iraqi Shi' A militia that, you know, Iran has all around this region. And the case has really very much been sort of laid out that Iran, after, you know, what's happened with the war that's gone on in Gaza, where Hamas and Islamic Jihad have been so weakened after the 12 Day War, that Israel started with Iran last summer with the US joining in at the end, where nuclear and military sites were really attacked, that this was a moment of weakness for Iran. And then the fact that, you know, the US, Israel's closest ally, came so fully on board with these attacks, that is what really sort of, you know, strengthened the position. And you see in Israel strong support among Israelis despite all the disruption that there is to their daily lives at the moment.

[Celia Hatton]

Yoland Nell in Iran, the United States says its forces have destroyed Revolutionary Guard command and control facilities as well as air defense capabilities and missile and drone launch sites. The Israeli military says it has bombed the presidential office in Tehran. Iran's Red Crescent says 787 people have been killed in the country since the airstrikes began on Saturday. The authorities in Tehran are staying defiant. They say the gates of hell will open more and more on the US And Israel. Gonci Habibi Azad from BBC Persian spoke to Clive Myre about the messages the service had been receiving from people inside Iran. Clive is reporting from Israel. At the moment.

[Clive Myre]

It's very difficult to know exactly what's going on inside Iran because of the Internet outage. But some people manage to connect momentarily to tell the outside world about what's going on. From what I've heard today, Isfahan has been the center of the attacks. Tehran has been calmer than yesterday and it seems like the strikes weren't that much as much as yesterday. I've heard that children are really afraid of what's going on and how the situation is unfolding. But some people, some anti establishment ones that I've been talking to are cheerful about some of the strikes. And so far Iran's Red Crescent Society has said that 787 people have been killed. They haven't made a distinction between civilians and the officials and military officials that have been killed during the strikes. And I've also heard from Tehran that the prices for some essentials have increased and people are, some of them are stocking up because they don't know how long the war is going to continue.

[Yolande Knell]

We've actually been trying to put together a film looking at how civilians on this side of the border Ghonche are coping with the continual airstrike strikes and air raid sirens and so on.

[Clive Myre]

That was something that so many that I talked to before the war were complaining about, about not having any bunkers or anything that they could shelter in. Iranian officials had said that some parking lots were ready for people to take shelter in, but we didn't see any reports or anything of it. They have asked people to stay at home and just be there. But at the same time, like some of the these infrastructures, like the bases are located where nearby people's houses as well. We have seen some destructions to the hospitals. We have verified videos of that. Although Israel's Defense Forces has said that they have also seen reports of a partial damage to a hospital and Tehran Gandhi Hospital. But they said that they're not targeting hospitals and this is the situation right now. People are staying at home and watching to see what will happen. I have seen that some people have said that their windows were shattered, that their walls have been like rattling and their houses have been rattling and this has been the situation. And they can hear fighter jets just passing through their heads like when they're at home.

[Celia Hatton]

Gonche Habibi Azad from BBC Persian speaking to Clive Myre now we're going to leave the US Israel war with Iran for a few minutes. Clergy from a conservative wing of the Anglican Church have gather meeting in Nigeria where they'll choose a rival leader for the first female Archbishop of Canterbury, Sarah Mulally. Nearly 500 bishops are meeting in the capital Abuja. But the appointment of Archbishop Mulally has deepened divisions in the Anglican Church. Some conservative Christians insist only men should serve as bishops. BBC's Lebo de Seco reports from the Nigerian city of Lagos. Sunday service in Lagos, the same liturgy and prayers as many Anglicans. But the global church is far from united. Here in Nigeria, the selection of a woman as Archbishop of Canterbury divides opinion.

[Narrator/Advertiser]

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[Celia Hatton]

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[Celia Hatton]

This week, conservative clergy from around the world will meet in Nigeria's capital Abuja. There they'll vote in a rival to lead them. In a direct challenge to Sarah Mulally. The group known as Gafcon was formed in 2008 following theological differences over the issue of same sex unions. GAFCON says it has not left the Anglican Church, rather that it is the true church. This week's vote will only deepen divisions as Professor Dermot McCulloch, retired professor of the history of the Church at the University of Oxford explains.

[Narrator/Advertiser]

Well, this is a bid for CISM and it's a, it's a bid for putting substance into the increasingly threatening noises of the GAFCON group over the last 15 years or however the long they've been in existence. And they, and they put it in very imperialist, colonialist language. They, they want to be the Anglican Communion rather than just a bit of it, which is what they are now. And that's, that's a very aggressive thing to do. This is a set of leaders, all male, going to a conference in Africa to assert an identity which no longer satisfies most of many Anglican churches. That is an all male episcopate calling the shots.

[Celia Hatton]

Perhaps the solution lies with the youth. 34 year old Alexander Olesinde explains that the connection to Canterbury is important to him in spite of its sometimes more liberal theological stance.

[Narrator/Advertiser]

The connection to the Church of England, yes, it matters to me. I very much look forward to a time whereby, like I said, we have Anglican know the Church of England, Church of Nigerian. For me personally, I look forward to that.

[Celia Hatton]

Common ground might be hard to find. The relationship between the first Anglican Church and the rest of the world is looking increasingly precarious Lebo de Seco. Still to come in this podcast, these

[Monica Marks]

are really unimaginable images that are about as shocking for people living and doing business here as it would be to see a city like Miami being bombed.

[Celia Hatton]

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by Grainger for the ones who get it done. This is the Global News Podcast. Back to our top story now, the fourth day of US And Israeli airstrikes on Iran. Globally, oil and gas prices have continued to rise. The price of a barrel of crude oil hit $85 for the first time since 2024, while the price of gas in Europe has more than doubled. Since Friday, Iran has blocked the Strait of Hormuz. That's the narrow strip between the Gulf and the Indian Ocean through which about a fifth of global oil and gas travels. Several tankers passing through have come under fire and there have been attacks on oil and gas installations in neighboring countries, including including Saudi Arabia, Qatar and the uae. Overnight, the US Embassy in the Saudi capital Riyadh was hit by drones. The news was announced on state tv. The authorities say an Iranian missile strike on Hamad International Airport in Doha was foiled by its missile defense system. On Monday, Qatar shot down two Iranian fighter planes. Our correspondent in Doha, Barbara Plett Usher, told me more about what's been happening across the Gulf.

[Barbara Plett Usher]

There was a drone strike on the US Embassy essentially overnight, two drones. The Defense Ministry in Saudi Arabia said not very much damage. A fire started, but it was limited and the Saudis said that there were no injuries. We do know that the embassy there put out an alert to its citizens telling them to stay away from the building and to shelter in place, as they say, which is what happened in Kuwait. When we heard that the embassy had been hit, that was never confirmed, although there was smoke in the area as well as emergency vehicles. They also the Americans put out such an alert. So it seems that the Iranians are targeting when it comes to US Targets, not just military bases but also civilian ones.

[Celia Hatton]

Barbara, should we be surprised that so many drone strikes are hitting key US Targets in the region? Is it because precisely because the Iranians are using drones successfully?

[Barbara Plett Usher]

Well, there hasn't actually been a lot of damage. So the missiles that are being sent, the ballistic missiles are mostly intercepted by air defense systems in the Gulf states. The drones are much less sophisticated and they do get around air defenses much more easily than the missiles. And the impact that they have physically is some damage, but psychologically it's the greater damage, I think, because the Iranians can create this sense of insecurity in the region. In fact, that is their goal. It seems to create a sense of chaos and also economic disruption. So, for example, they targeted for the first time, energy infrastructure yet yesterday, on Monday, hitting the Saudi main refinery, oil refinery in Saudi Arabia, and also liquid natural gas targets here in Qatar. I should say they targeted them. They didn't necessarily hit them because, again, some of them were blown out of the sky. But the result of that, even though the facilities themselves were not that much damage, the result was that production stopped. And that has had a huge impact on the market. So in a way, their biggest weapon when it comes to the idea of creating instability in the region is its location, because they can disrupt things quite easily because it's a transport hub. You know, sending drones to hit the airports doesn't take the airports out of function, but it means that they stop for security reasons. And that has a huge impact on travel and also on the energy industry and tourism, I should add, you know, because tourism is another big thing here in the Gulf.

[Celia Hatton]

And what about the political impact? I mean, it's been said that the Iranians have been targeting the Gulf states in an effort to drive a wedge between those states and the Americans to put pressure on the US to stop the war. But is that happening or are we seeing more unity between those targeted countries and the Americans?

[Barbara Plett Usher]

It's a risky calculation because the Arab countries have from the beginning been against the war. They very much lobbied the US not to go to war, saying. Saying exactly this kind of scenario could happen. So they knew that it could happen, something like this. At the moment, they are very much focused on defense. It can escalate, as we can see, quite quickly over the last four days. But at this point, the Gulf countries, although they're issuing very strong condemnations and warnings, they are very much in a defensive mode.

[Celia Hatton]

Barbara Pled Usher in Doha. And we have more from Barbara on our YouTube channel today. Search for BBC News on YouTube and you'll find the Global News podcast in the podcast section. There's a new story available every weekday. For more on what it's like for those living in the uae, let's hear from Monica Marks. She's a professor of Middle east politics at New York University, Abu Dhabi. She spoke to Rob Young.

[Monica Marks]

The images that we've seen since Saturday of missiles actually making contact with both airports, the one in Dubai, the one in Abu Dhabi with residential buildings like Etihad Tower in Abu Dhabi where the Israel Embassy was located, and even hotels like the Fairmont in Dubai, which was aflame these are really unimaginable images that are about as shocking for people living and doing business here as it would be to see a city like Miami being bombed. Because these cities are so almost preternaturally calm, you can leave your purse down without worrying about it being stolen. Typically, you don't even see a homeless person on the street. There is almost like a sterile quality about how safe these cities typically feel to live in.

[Narrator/Advertiser]

And so what is the mood at the moment then, among the many foreigners who've made Dubai their home?

[Monica Marks]

Most people seem to be feeling a combination of trepidation and gratitude to the government for doing its best to strike everything out of the sky. They're seeing incoming hardware from Iran that that could land and could kill quite a lot of people if it wasn't being shot down. So I think that the government here has been trying to project calm and competence. Just yesterday at Dubai Mall, the top brass leadership was making a point of walking around and chilling out together and greeting random people, including people like a child from Asia, a man from Ghana that came up and greeted them at the mall. And they really wanted to show these images to project calm and to project strength.

[Narrator/Advertiser]

And we heard that AM Amazon's cloud computing business said that drones have hit three of its facilities in the United Arab Emirates as well as in Bahrain as well. So foreign global businesses are also being affected. Do you see a situation in which companies decide to pull their operations to pull their people out of places like Dubai?

[Monica Marks]

If Iran kept on these attacks for I think over a week or two at the current tempo, or if Iran went after really close to the jugular vein of Gulf states, I would say attacking things like power, power plants, attacking data centers even more and more successfully, managing to shut down the. The Internet or water desalination, air conditioning. Gulf States are really uninhabitable without those things, certainly for businesses. And I think you would see a bigger movement out of yesterday. Abu Dhabi, late at night, in the middle of the night, got hit with some very loud explosions. About 94% of everything coming in is being intercepted by the UAE. But, you know, I was chatting with my students last night in Abu Dhabi and they felt the windows in their dorm shake and they went down into the basement to find shelter. And the elephants, Iran and Israel, these highly ideological elephants are fighting. And the grass in the middle, the Arab Gulf states are. That's what's being trampled underneath, including the civilians in those countries. So I really just hope that instead of having a caricatured almost cartoonish image of a city like Dubai, of being nothing but rich people and Lamborghinis and kind of having a heartless response to this that your listeners understand that many people from all over the world, including war torn places like Iraq, like Palestine, like Ukraine, like Sudan, have come to rebuild their lives in the Persian Gulf states. And for all of their flaws in different ways, including in their foreign policy, these countries have provided them the stability to do that. So many people who've seen war before are being affected yet again.

[Celia Hatton]

Professor Monica Marx, Already the effects of the conflict have spread far beyond the Middle East, a reminder of the interconnected world we live in. As we've mentioned earlier in this podcast, Iran has blocked the Strait of Hormuz. A large proportion of the oil tankers normally passing through that strait are headed for countries in East Asia. With oil and gas prices surging, countries like South Korea are now looking to secure supplies from outside the Middle East. Our correspondent Jake Kwon is in Seoul and he told me more.

[Narrator/Advertiser]

If you look at the map, South Korea is at the bottom half of the Korean peninsula and its road to the land is blocked by North Korea. So South Korea is practically an island and just like its neighbor Japan. So nearly all of its energy fuel is imported, whether that's oil, gas or uranium for the nuclear power. And an average year, South Korea imports some 70% of its oil from the Gulf countries like Saudi Arabia and Kuwait and Qatar, which are all embroiled in this conflict. Now, Saudi Arabian oil, maybe they can buy them from the ports in the Red Sea away from Iran, but those are coming from Iraq, uae, Kuwait, Qatar. These have to pass through the Strait of Hormuz. So what happens if that strait gets shut down now? That's the fear. And South Korea needs oil and gas to run its power generators and also to feed its enormous petrochemical industry. And this is the number three export of all exports in South Korea. So it's a huge part of South Korean economy.

[Celia Hatton]

So Jake, what will it mean then for South Korea if this war grinds on for weeks or for months? I mean, how quickly could it pivot to find new energy sources?

[Narrator/Advertiser]

Well, it's going to be quite difficult to find these new energy source. I mean, South Korea said it will find different oil source, but in terms of using different energy source like renewables or others, it simply can't be done. That's not what the power generators are designed to do. You cannot just turn up the nuclear, wind or hydro or solar. But South Korean government was trying to assuage this fear, saying that they have seven months of oil in stockpile, half of it in the government stockpile, the other half in the kind of public sector and there won't be an issue. But that wasn't enough to quiet down the anxious investors today. And we saw South Korea's main market index, KOSPI, slip 7%. And at one point, they actually had to shut down the trade for five minutes because it was slipping so fast. And, you know, it was really, it seemed like there was a lot of fear in the market today.

[Celia Hatton]

Jake Kwan in Seoul. And that's all from us for now. If you want to get in touch, you can email [e-mail] you can also find us on X@ BBC World Service. Use the hashtag Global Newspod. And don't forget our sister podcast, the Global Story, which goes in depth and beyond the headlines on one big story. This edition of the Global News Podcast was mixed by Nick Randall and the producer was Adrian White. The editor is Karen Martin. I'm Celia Hatton. Until next time. Goodbye.