U.S. Strikes on Iran with New Precision Missile Spark Global Economic Concerns

The United States deploys a new Precision Strike Missile in a series of strikes against Iran, targeting key military and civilian infrastructure. The attacks, which include the bombing of an ammunition depot in Isfahan, have led to a significant rise in global oil prices and economic instability.

Details of the U.S. Military Actions

The U.S. drops 2,000-pound bunker buster bombs, hitting a large ammunition depot in the Iranian city of Isfahan. President Trump posts a video of the massive explosions on Truth Social, warning that the U.S. will obliterate Iran’s energy plants and oil wells if Iran does not reopen the Strait of Hormuz. Trump also threatens to strike Iran’s desalination plants, a move that international law experts consider a war crime.

According to local officials, the Precision Strike Missile, which is barely out of the prototype phase, hits a sports hall and school in southern Iran on February 28, killing at least 21 people, including young girls playing volleyball. The U.S. Army has not yet created an official entry for the missile in the military’s supply system.

Global Economic Impact

The International Monetary Fund warns that the U.S.-Israeli war on Iran is driving higher prices and slower growth worldwide. In the U.S., gas prices hit $4 a gallon for the first time since 2022. White House Press Secretary Karoline Leavitt suggests that President Trump could soon ask Arab nations to pay for the conflict, similar to how Kuwait, Saudi Arabia, and the UAE financed the Persian Gulf War in 1990-1991.

Civilian Casualties and Human Rights Concerns

A consortium of human rights groups in Iran reports that nearly 1,500 Iranian civilians, including at least 217 children, have been killed in U.S. and Israeli strikes. U.S. airstrikes have hit 20 universities and dormitories across Iran, according to Iranian state media. Videos posted on March 28 and 29 show the aftermath of an attack on the Iran University of Science and Technology in Tehran, where an entire building was reduced to rubble.

International Reactions and Ceasefire Talks

Iran says it has received U.S. ceasefire proposals via intermediaries, following talks between the foreign ministers of Pakistan, Egypt, Saudi Arabia, and Turkey. The Iranian Foreign Ministry describes the proposals as 'unrealistic, illogical, and excessive.'

References

• Headlines for March 31, 2026 | Democracy Now!