Here are 5 latest developments:

Khamenei’s ultimatum: The Supreme Leader’s proxy statement confirmed that attacks on Gulf Arab neighbours will continue, aimed at forcing a US withdrawal and securing “security guarantees”.

Northern front escalation: Hezbollah launched a massive barrage of approximately 200 rockets into northern and central Israel. While no serious injuries were reported, the sheer volume of fire has shattered the sense of security for residents previously told the militant group was “defanged.”

Lethal strikes in Lebanon and Iran: An Israeli strike on a seaside area in Beirut killed eight people, while suspected drone assaults in Tehran targeted security checkpoints for the first time, leaving at least 10 dead.

Gulf infrastructure under fire: Iranian drones and projectiles have struck a residential building in Kuwait, sparked a major fire near Bahrain’s international airport, and targeted the diplomatic quarter in Riyadh. In Dubai, Citibank has announced the closure of almost all branches following credible threats against financial institutions.

Humanitarian catastrophe: The scale of displacement is staggering, with the UN reporting 3.2 million people uprooted in Iran and over 759,000 in Lebanon.

Big picture: ‘Finish the job’; vs. ‘legitimate rights’

The diplomatic gap remains a chasm. While President Trump asserts that Iran is “virtually destroyed” and vows to “finish the job”, Iranian President Pezeshkian insists the war will not end until the world recognises Iran’s “legitimate rights” and pays for the destruction. As the US and Israel prioritise the total dismantling of Iran’s nuclear programme, confirmed by the recent strike on the Taleghan 2 site, the region remains braced for a prolonged, multi-front confrontation.