Financial Wire

Gulf Countries Intercept Iranian Missiles Hours After Ceasefire Deal

Gulf countries intercepted dozens of Iranian missiles and drones on Wednesday, just hours after a Pakistan-mediated ceasefire was intended to pause weeks of intense regional hostilities that have roiled energy markets.Pakistan's Prime Minister Shehbaz Sharif said Wednesday that violations of the ceasefire were reported across the Middle East, which undermines the peace process."I earnestly and sincerely urge all parties to exercise restraint and respect the ceasefire for two weeks, as agreed upon, so that diplomacy can take a lead role towards peaceful settlement of the conflict," Sharif said in a social media post on X.The UAE on Wednesday said its air defenses "are actively engaging" incoming missiles and drones from Iran. The country intercepted 17 Iranian ballistic missiles and 35 unmanned aerial vehicles. Sources in the UAE toldthey received emergency alerts several hours after a ceasefire had been declared.Iran reportedly attacked Saudi Arabia's East-West Pipeline on Wednesday, hitting the OPEC+ producer's only crude oil export route since the outbreak of the Middle East conflict.Saudi Arabia's East-West Pipeline, the country's only outlet for exporting crude oil, was hit in an Iranian attack, while other facilities in the Gulf country were also targeted, according to media reports.The pipeline, which channels about 7 million barrels of oil per day from the eastern oil fields to the Red Sea port of Yanbu, has become a critical alternative following the effective closure of the Strait of Hormuz.Kuwait's army also said Iranian drones targeted vital oil facilities operated by Kuwait Petroleum Corporation as well as power stations and water desalination plants, causing serious infrastructure damage.Lebanon came under intense attack after Israel said it would continue its assault on the country, contradicting mediator Pakistan, prompting Iran to threaten to pull out from the ceasefire.On Wednesday, Israel Defense Forces posted on X that it completed the largest coordinated strike across Lebanon since the start of the Middle East conflict, targeting Beirut, Beqaa and southern Lebanon.Meanwhile, US President Donald Trump reportedly told PBS on Wednesday that Israel's strikes on Lebanon were a "separate skirmish" and not included in the ceasefire agreement because of Hezbollah. However, he reportedly said that this would "get taken care of."

-- Gulf countries intercepted dozens of Iranian missiles and drones on Wednesday, just hours after a Pakistan-mediated ceasefire was intended to pause weeks of intense regional hostilities that have roiled energy markets.

Pakistan's Prime Minister Shehbaz Sharif said Wednesday that violations of the ceasefire were reported across the Middle East, which undermines the peace process.

"I earnestly and sincerely urge all parties to exercise restraint and respect the ceasefire for two weeks, as agreed upon, so that diplomacy can take a lead role towards peaceful settlement of the conflict," Sharif said in a social media post on X.

The UAE on Wednesday said its air defenses "are actively engaging" incoming missiles and drones from Iran. The country intercepted 17 Iranian ballistic missiles and 35 unmanned aerial vehicles. Sources in the UAE toldthey received emergency alerts several hours after a ceasefire had been declared.

Iran reportedly attacked Saudi Arabia's East-West Pipeline on Wednesday, hitting the OPEC+ producer's only crude oil export route since the outbreak of the Middle East conflict.

Saudi Arabia's East-West Pipeline, the country's only outlet for exporting crude oil, was hit in an Iranian attack, while other facilities in the Gulf country were also targeted, according to media reports.

The pipeline, which channels about 7 million barrels of oil per day from the eastern oil fields to the Red Sea port of Yanbu, has become a critical alternative following the effective closure of the Strait of Hormuz.

Kuwait's army also said Iranian drones targeted vital oil facilities operated by Kuwait Petroleum Corporation as well as power stations and water desalination plants, causing serious infrastructure damage.

Lebanon came under intense attack after Israel said it would continue its assault on the country, contradicting mediator Pakistan, prompting Iran to threaten to pull out from the ceasefire.

On Wednesday, Israel Defense Forces posted on X that it completed the largest coordinated strike across Lebanon since the start of the Middle East conflict, targeting Beirut, Beqaa and southern Lebanon.

Meanwhile, US President Donald Trump reportedly told PBS on Wednesday that Israel's strikes on Lebanon were a "separate skirmish" and not included in the ceasefire agreement because of Hezbollah. However, he reportedly said that this would "get taken care of."