
In late February 2026, the US and Israel launched military strikes against Iran's nuclear facilities, triggering a devastating regional conflict. This timeline tracks the critical fourth week of the war, from March 22-23, 2026, as Iran retaliated with missile strikes near Israeli nuclear sites, Trump issued ultimatums over the blocked Strait of Hormuz, and global markets plunged amid the worst energy crisis in decades.
14 events · 1 days · 30 source articles
Following failed negotiations over Iran's nuclear program, the United States and Israel began coordinated military airstrikes against Iranian targets on February 28. Iran's Supreme Leader Ayatollah Khamenei and several high-ranking military officials were killed on the first day of strikes. Iran immediately responded with missile and drone attacks on Israel and US military facilities across the region, marking the beginning of open warfare.
In response to the attacks, Iran effectively closed the Strait of Hormuz, the critical shipping chokepoint through which approximately 20% of the world's oil and liquefied natural gas normally passes. This closure triggered immediate concerns about global energy supplies and sent oil prices soaring, with particularly severe impacts on major importers like Japan and South Korea.
Israeli forces conducted a strike on Iran's Natanz atomic facility in the central province of Isfahan. Iranian officials characterized this attack as 'insane' and vowed immediate retaliation. This strike on nuclear infrastructure marked a dangerous escalation in targeting, setting the stage for Iran's retaliatory response targeting Israeli nuclear sites.
Less than 24 hours after the Natanz strike, Iranian missiles struck the southern Israeli cities of Dimona and Yerucham, located near Israel's main nuclear research center. The attack on Dimona was particularly significant, with at least 12 impact sites and one residential building completely destroyed. Israeli medical officials reported more than 30 people injured initially, though this number would rise significantly.
In a second attack on the same day, an Iranian ballistic missile evaded Israel's Iron Dome defense system and struck the city of Arad in southern Israel, causing significant damage to approximately 20 buildings. The Israeli Defense Forces spokesman confirmed that 'systems worked but did not intercept the rocket,' raising serious questions about the effectiveness of Israeli missile defenses against Iranian ballistic missiles.
As rescue teams continued searching through rubble, the injury count from the dual strikes on Dimona and Arad reached 68 people hospitalized. Over three weeks of warfare, Iranian missiles had killed at least 15 people inside Israel and injured more than 200. Despite regular air raid sirens, shuttered schools, and cancelled flights, polls showed more than 90% of Jewish Israelis supported continuing the war.
The US military announced it had destroyed an Iranian bunker housing weapons that threatened oil and gas shipments through the Strait of Hormuz. This statement appeared designed to calm energy markets and reassure more than 20 international allies who had issued a joint statement supporting efforts to reopen the strategic waterway. However, the strait remained effectively closed.
Facing mounting domestic pressure as oil prices soared, President Donald Trump issued a stark ultimatum: Iran must fully open the Strait of Hormuz within 48 hours or the US would 'obliterate' Iranian power plants. This threat represented a significant escalation, targeting critical civilian infrastructure and raising fears of an even wider conflict with catastrophic humanitarian consequences.
Iran's central command headquarters 'Khatam al-Anbia' announced a fundamental shift in military strategy from defensive to offensive posture. Iranian officials warned that if the US and Israel struck Iranian energy infrastructure, Iran would consider all energy and oil infrastructure throughout the region as legitimate military targets. This threat put Gulf states' energy facilities at risk and raised the specter of a region-wide catastrophe.
Ship-tracking data showed only a handful of Iran-linked vessels and India-flagged LPG carriers transiting the Strait of Hormuz, following routes close to Iran's coastline with apparent Iranian approval. The vast majority of commercial shipping remained disrupted as the effective closure entered its fourth week, creating severe supply chain problems for Asian economies heavily dependent on Gulf energy imports.
A leading Chinese government adviser noted that international capital had been flowing to Hong Kong and China since the US-Israeli strikes began, as investors sought certainty during growing geopolitical turbulence. China's central bank governor reiterated commitment to welcoming foreign investors, positioning the country as a safe haven while much of the world faced energy crisis and market volatility.
Asian markets opened Monday with severe losses as Trump's threats and Iran's counter-threats heightened fears of further escalation. Japan's Nikkei fell 3.4%, South Korea's Kospi dropped nearly 5%, and Australian stocks neared technical correction territory. The International Energy Agency chief warned the conflict could lead to the world's worst energy crisis in decades, while bond markets experienced their worst selloff in years.
Iranian state television reported another missile launch targeting northern Israel, demonstrating Tehran's determination to maintain offensive pressure despite Trump's ultimatum. The strike came as the 48-hour deadline continued to tick down, with no signs that either side was prepared to back down from their threatening positions.
With the Strait of Hormuz closure entering its fourth week, the global energy situation deteriorated further. UK government bonds headed for their worst month since the Liz Truss crisis, driven by surging energy costs. Japan's bond yields approached multi-decade highs on inflation concerns. The European Central Bank remained on alert for price impacts, while analysts noted oil prices continued to underprice the severity of the supply outage.