THE WORLD TODAY #268, 02 March 2026, MONDAY
Operation Epic Fury, Day 03:
The US is hitting Iran "surgically, overwhelmingly and unapologetically," says the American Defence Secretary
On 02 March, addressing a news conference, US Defence Secretary Pete Hegseth said that the US did not start the war and was only responding to the Iranian threat. He also explained that the American objective in Iran is to target Iran’s nuclear and ballistic missile program, and also Iran’s navy. According to him, the US operations have a "clear, devastating, decisive mission: destroy the missile threat, destroy the navy, no nukes." The Chairman of the Joint Chiefs of Staff - Gen Dan Caine, warned that the US operations against Iran are in their early stages and said: "This work is just beginning and will continue."

Lebanon: Hezbollah opens fire on Israel; government calls for its disarmament, while Tel Aviv strikes back
On 02 March, Lebanon’s government made a statement regarding the military activities of Hezbollah after the group opened fire on Israel to avenge the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei. Israel responded to Hezbollah’s drone and rocket attack with heavy airstrikes on Hezbollah?controlled southern Beirut suburbs and other parts of Lebanon, killing 31 people, according to the Lebanese health ministry. Hezbollah said its attack was to avenge “the pure blood” of Khamenei, who was killed in a bombing on Saturday. Israel declared its leader, Naim Qassem a “target for elimination.” Lebanon’s PM said the state rejected any military actions from Lebanese territory outside legitimate institutions and that war and peace decisions were exclusively its prerogative. The Lebanese government has called for “immediate prohibition” of Hezbollah’s security and military activities and the handover of its weapons to the state.

Oil price soars; air travel gets disrupted
On 02 March, media reports indicate a spike in oil prices and disruptions to air travel. The shutdown of the Strait of Hormuz, which accounts for 20 per cent of global oil flows, has pushed Brent crude up 10 per cent to USD 79 per barrel. Natural gas prices have surged by 25 per cent. The conflict, according to reports have also affected the aviation sector. Major transit hubs such as Dubai and Doha have remained closed for three consecutive days, leaving approximately 90,000 passengers stranded. More than 2,800 flights have been cancelled. Travel-related stocks have depreciated by up to 10 per cent. Since the US warns that strikes could last for weeks, travellers are to expect higher ticket prices and long delays with no clear end.

Kuwait: US fighter jets shot down in ‘friendly fire’ amid rising Iran tensions
On 02 March, three US jets were shot down in Al Jahra by Kuwaiti air defences in a friendly fire incident while participating in operations against Iran. All six crew members ejected safely and were taken to safety. A drone attack struck the American embassy compound in Kuwait, according to US officials. Several US bases and military facilities in the region have been attacked by Iran, prompting the militaries of the Gulf states to mobilise air defences to deter strikes.

India and Canada: Renew strategic ties with uranium supply agreement
On 02 March, India's PM Modi and Canada's PM Mark Caney held bilateral talks in New Delhi; the most significant outcome was the agreement between Canada’s Cameco Corporation and India’s Department of Atomic Energy. The deal ensures a long-term supply of uranium to fuel India’s civil nuclear reactors. The deal was valued at approximately CAD 2.6 billion. This agreement is crucial to India’s energy security as nuclear power remains a key component of its clean energy transition strategy. Both leaders emphasised that Civil Nuclear Cooperation would remain a central pillar of this bilateral relationship. They confirmed the launch of negotiations towards a Comprehensive Economic Partnership Agreement, aiming to significantly boost bilateral trade by 2030. Overall, the visit represents a diplomatic reset, with the uranium agreement serving as the most concrete deliverable of the India-Canada partnership.