As the conflict in West Asia enters its 13th day, Iran’s military warned that it could target economic assets linked to the United States and Israel across the region, including financial institutions, as per reports.
The statement followed overnight attacks in Tehran, where a bank building was reportedly struck, resulting in casualties among employees, according to Iranian media reports. The exact number of those killed or injured has not been officially confirmed.
In a message broadcast on state television, Iran’s central military operational headquarters, Khatam Al-Anbiya, reportedly said the latest developments had expanded the scope of potential targets.
He said that the enemy has given Iran free rein to target economic centres and banks belonging to the United States and the Zionist regime.
The warning comes amid escalating tensions and continued exchanges of strikes between Iran and its adversaries, raising concerns about further economic and security fallout across the region as the conflict shows no immediate signs of easing.
Earlier, Assocham cautioned that a prolonged regional conflict in West Asia, amid escalating tensions involving the United States, Israel and Iran, could disrupt global trade and affect India’s energy supplies and exports.
The apex industry chamber said India’s economy is closely linked to West Asian supply chains while also relying heavily on the Gulf region as a key export destination.
The Middle East remains a major supplier of crude oil, liquefied natural gas (LNG), petrochemicals, fertilisers and aluminium.
According to Assocham, one of the emerging concerns in the ongoing Israel–Iran tensions is the potential disruption of oil and gas shipments passing through the Strait of Hormuz, a critical maritime chokepoint that accounts for nearly 20 per cent of the world’s oil supply and a significant share of global LNG trade.
Any prolonged disruption to shipping routes could drive up global fuel prices, the chamber said. It also highlighted that energy is a key input for manufacturing and logistics and higher prices could increase costs across global supply chains.
Given India’s heavy dependence on imported crude oil, a surge in international oil prices could widen the current account deficit, increase inflationary pressures and affect economic growth prospects.
The chamber also pointed out that disruptions to maritime routes in the Gulf have already delayed container shipments and deliveries across several parts of the world.
As India both supplies to and imports products from the conflict-affected region, sectors such as gems and jewellery, pharmaceuticals, electronics, petroleum products and agricultural goods could face implications if the conflict continues for an extended period.
Assocham noted that a large number of containers stuck at Indian ports are reportedly being taken back for domestic sale of goods due to shipment disruptions.
Moreover, the chamber welcomed the government’s decision to create an Inter-Ministerial Group (IMG) for Supply Chain Resilience to monitor developments in Iran and the wider region and assess their impact on India’s trade.
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