Escalation in the Middle East: US-Israel Airstrike on Iran Shakes World Order and Markets

The situation in the Middle East is rapidly escalating. Reports indicate that Israel, in a joint operation with the United States, carried out large-scale airstrikes on Iran, sending significant shockwaves through the international community. Various media outlets, including the Mainichi Shimbun, are reporting that U.S. forces participated in this attack, suggesting it may have been meticulously planned over several months.

In response to this "change of the status quo by force," strong calls are emerging on Japanese social media for the Japanese government to issue a firm protest, characterizing the action as "an act of armed force by the U.S.-Israeli coalition that violates international law." Mexico has already released a statement condemning the airstrike on Iran as a "violation of international law."

This military action has also had a significant impact on economic markets. Following news of the airstrikes, the cryptocurrency market experienced significant turmoil, with Bitcoin falling below $64,000. Furthermore, while OPEC+ is reportedly considering expanding its production cuts in the crude oil market, numerous concerns have been raised about soaring crude oil prices and spiking gasoline costs, with many investors and ordinary citizens expressing apprehension about the "impact on financial assets."

In the wake of the airstrikes, concerns are being voiced about the potential for a large-scale conflict, with questions like "Is this the start of World War III?" or "Is a new war beginning this year?" At the same time, complex public sentiment is also evident, with some expressing surprise at their own numbness to the repeated news of conflict, thinking "not again."

The preemptive strike by the U.S. and Israel against Iran has the potential to severely undermine stability in the Middle East, and the international community's response and the future development of the situation are drawing urgent attention as critical issues.

The context

The relationship between Israel and Iran has been deeply hostile for decades, marked by proxy conflicts across the Middle East. Iran supports various non-state actors (such as Hezbollah in Lebanon and Hamas in Gaza) that Israel considers terrorist organizations. Israel, in turn, views Iran's nuclear program and regional influence as existential threats. The United States has historically been a strong ally of Israel and shares concerns about Iran's nuclear ambitions and destabilizing actions.

"International law" refers to the body of rules and principles that govern the relations between states. Unilateral military actions not in clear self-defense and without explicit United Nations Security Council authorization are often considered violations by many nations and international legal experts.

The Mainichi Shimbun is one of Japan's largest and most respected daily newspapers, known for its extensive coverage and often nuanced reporting on international affairs.

OPEC+ is an alliance of the world's major oil-producing countries, including the Organization of the Petroleum Exporting Countries (OPEC) and other oil-producing nations like Russia. This group significantly influences global crude oil prices through collective decisions on production quotas. Any discussion of increasing production would typically aim to stabilize or lower prices, especially amidst supply concerns and geopolitical instability.