Israel and allies including the US, UK and France managed to mostly foil an unprecedented attack by Iran on the Jewish state. The Islamic Republic fired more than 300 drones and missiles against Israel on Saturday evening. Almost all were intercepted before they reached Israeli airspace and there were no fatalities reported. A 10-year-old girl in Israel was badly injured by falling shrapnel, while an army base was lightly damaged. US President Joe Biden said he condemned the assault — the first from Iranian soil against Israel — in the strongest terms and Israeli officials warned it was “a severe and dangerous escalation” from Tehran. Yet neither said they would retaliate against Iran, which had promised an attack against Israel after its embassy compound in Syria was hit by missiles on April 1, killing seven Iranian officers Israel Defense Minister Yoav Gallant says hundreds of missiles and drones fired by Iran were blocked by Israel, the US and others “with great success.” Iran said it would not carry out further assaults in the absence of a strong reaction from Israel. Stock markets in Israel, Saudi Arabia and elsewhere in the Middle East fell on Sunday, but only slightly. “We see this operation as achieving a complete result and there’s no intention to continue” it, the chief of staff of Iran’s military, Mohammad Bagheri, told state TV on Sunday. Iran was capable, he said, of an attack “tens of times” bigger but deliberately limited it. Biden will speak with Group of Seven leaders on Sunday “to coordinate a united diplomatic response,” according to a White House statement.
He spoke to Israeli Prime Minister Benjamin Netanyahu and reiterated Washington’s support for the country was “ironclad.” However, he said the US wouldn’t support an Israeli counterattack against Iran, Axios reported, citing an unidentified White House official. Israel’s cabinet is expected to meet on Sunday afternoon to discuss the country’s response. “This campaign is not over yet and we need to remain prepared,” Israel’s defense minister, Yoav Gallant said. “Israel withstood the attack tonight. The IDF blocked this attack in the most impressive way, together with our partners. The entire world saw tonight what Iran is, a country of terror.” Oil prices rose in the wake of the Syria strike, with Brent climbing above $90 a barrel and analysts saying it could reach $100 on a direct conflict between Iran and Israel. The Israeli shekel weakened and neared its weakest level this year. On Sunday, Israeli stocks increased as much as 0.7% in early trading, but reversed those gains as of 11:40 a.m. in Tel Aviv. Saudi Arabia, which said it had “deep concern over the military escalation developments in the region,” saw its main bourse drop 0.5%.
“Iran designed its retaliation to cause maximum symbolism, but minimum damage,” said Ziad Daoud, chief emerging-markets economist for Bloomberg Economics. “By itself, it shouldn’t move markets. But if it triggers an Israeli counter-response, then we’re spiraling into somewhere very dangerous. Key to what happens next is whether the US can restrain the Israeli reaction.”
Israel’s military said Iran launched about 170 drones, 30 cruise missiles and 120 ballistic missiles. Only the latter penetrated Israeli airspace and in “very small numbers,” according to the Israel Defense Forces. The drones and cruise missiles were all intercepted before they got to Israel.
Iran’s Attack on Israel
A US defense official confirmed its forces in the region — bulked up since the Israel-Hamas war erupted on Oct. 7 — shot down Iranian-launched drones. UK and French forces were also involved. “Thanks to these deployments and the extraordinary skill of our servicemembers, we helped Israel take down nearly all of the incoming drones and missiles,” Biden said. Israel has upgraded its air defenses considerably over the past decade and a half, adding new systems for interceptions of ballistic missiles fired from as far away as 2,400 kilometers (1,500 miles). That range includes Yemen, Syria and Iraq, where militant groups allied with Iran are based, as well as Iran.