Where things stand, the global response — and what happens next

The US-Israel standoff with Iran has entered a third day, with each side doubling down on reactions in the coming days, raising fears of a wider war that could rattle the global economy.

Washington and Israel launched heavy attacks on Iran on Saturday. Assassination of Islamic State’s Supreme Leader Ayatollah Ali Khamenei launched attacks in retaliation from Tehran.

Tehran has responded Missiles and drones Against Israel and the Gulf countries that host US military bases, including the United Arab Emirates, Qatar, Kuwait and Saudi Arabia.

Civilian infrastructure was also hit by Iran’s retaliatory strikes, including Dubai’s luxury hotel Fairmont The Palm and Dubai International Airport.

The death of Khamenei, who ruled Iran for more than three decades and held ultimate power, has raised questions about who will lead Iran as he has not publicly named a successor. Iranian President Massoud Pezheshkian, head of the judiciary and a member of the Guardian Council, assumed temporary leadership duties on Sunday.

More than 200 people have been killed during strikes in Iran, according to Iranian state media.

Three American service members The US military said on Sunday that one person was killed and five others were seriously injured.

US crude Oil rose more than 8%, or $5.55, to $72.57 a barrel in the global benchmark. Brent It jumped about 9%, or $6.54, to $79.41.

Precious metals gold and silver climbed around 2% as investors turned to safe-haven amid global risk-off sentiment.

Risky assets are pulling back. Futures on the Dow Jones Industrial Average fell 521 points, or 1%. S&P 500 futures fell 1% and Nasdaq 100 futures fell a little more than 1%.

of Japan Nikki 225 It fell 1.2%, while the Topix fell 1.34%. Hong Kong Hang Seng Index It opened down 1.15%, while mainland China’s CSI 300 was down 0.25%. of Australia S&P/ASX 200 fell 0.48%.

US President Donald Trump has given this warning More American victims As operations unfold. Trump told the Daily Mail newspaper on Sunday that the conflict with Iran could continue for the next four weeks.

“It’s always a four-week process. We thought it would be four weeks or more. It’s always a four-week process – the stronger, the bigger the country, it will take four weeks – or less,” the British newspaper quoted Trump as saying.

Separately, in one the interview With The Atlantic magazine, Trump said that Iran’s new leadership wants to restart negotiations and that he has agreed to talk with them.

“They want to talk, and I’m willing to talk, so I’m going to talk to them. They should have done it sooner. They should have done it sooner. What’s very practical and simple. They’ve waited too long,” Trump said, without specifying when the talks would take place.

The U.S. attacks have drawn controversy over their legal basis because only Congress has the power to declare war under the Constitution.

“There is no legal justification for a US attack on Iran,” said Brian Finucane, senior adviser at the International Crisis Group, a Brussels-based think tank.

Congress has not authorized military action and the president is not acting to repel a surprise attack on the United States, he said.

“By the standards of unilateral executive military action of recent decades, President Trump’s unauthorized attack on Iran stands apart in terms of its scale and potential consequences with U.S. forces in the region,” Finucane added.

US lawmakers have also expressed concern about a potentially long and costly war in the Middle East.

Senator Tom Cotton, the Republican chairman of the Senate Intelligence Committee from Arkansas, said on CBS News’ “Face the Nation” that “there is no simple answer to what’s going to happen next.”

“It is no secret that this administration has no plan for the chaos that is currently unfolding in the Middle East,” said Senator Chris Murphy, Democrat of Connecticut.

Russia: President Vladimir Putin According to reports It mourned Khamenei’s death and called the act “an assassination in violation of all norms of human morality and international law”. In a statement on Saturday, the Russian Foreign Ministry called for an “immediate return to the political and diplomatic path”.

Gulf States: US-allied countries pledged in a joint statement to “stand united in defense of our citizens, sovereignty and territory and reaffirm our right to defend in the face of these attacks.”

Britain: The UK government said it was not involved in the strike and “does not want to see a further escalation in the wider regional conflict.” But London is Agreed to allow the US usage its military bases for “defensive” strikes on Iranian missile sites, according to Prime Minister Keir Starmer.

Germany: Chancellor Friedrich Merz was “monitoring developments closely and coordinating closely with European partners,” a government spokesman said. Merz is scheduled to meet with Trump in Washington later this week.

France: President Emmanuel Macron called for a halt to the attacks and convened a meeting of the Security Council. He also wrote that Iran’s leadership must understand that it has no choice but to negotiate in good faith over its nuclear program.

Australia: Prime Minister Anthony Albanese highlighted that Iran has been an “unstable power” for decades. “We support U.S. actions to prevent Iran from obtaining a nuclear weapon and to prevent Iran from continuing to pose a threat to international peace and security,” he said in a statement.

Canada: Prime Minister Mark Carney also supported the US action. “Canada supports the United States’ actions to prevent Iran from obtaining a nuclear weapon and further threatening international peace and security,” Carney said in a statement.