Israel says Iran has launched drones, U.S. says operation ‘likely to unfold’ over hours

Israel’s national military on Saturday said Iran had started an airborne operation against the country, while a U.S. government spokesperson said it was “likely to unfold over a number of hours.”

The development comes after multiple media reports earlier this week said a move on Israel by Iran was imminent, in retaliation to a suspected Israeli attack on Iran’s embassy in Syria on April 1.

“Iran launched UAVs (unmanned aerial vehicles) from within its territory toward Israel a short while ago,” the Israel Defense Forces (IDF) said on X (formerly Twitter).

“The IDF is on high alert and is constantly monitoring the operational situation. The IDF Aerial Defense Array is on high alert, along with IAF fighter jets and Israeli Navy vessels that are on a defense mission in Israeli air and naval space. The IDF is monitoring all targets,” the national military added.

The latest flare-up between Israel and Iran amid an already precarious situation in the Middle East added to geopolitical concerns this week, and especially on Friday when U.S. investors ahead of the imminent attack shunned equities (SP500) and fled to the safety of bonds (US10Y) and the dollar (DXY). WTI crude oil futures (CL1:COM) are also on watch.

“Iran has begun an airborne attack against Israel,” Adrienne Watson, spokesperson for the White House National Security Council, confirmed in a statement on Saturday.

“President Biden is being regularly updated on the situation by his national security team and will meet with them this afternoon at the White House. His team is in constant communication with Israeli officials as well as other partners and allies,” Watson added.

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