What you need to know about Iran today, with Matthew Doran

G’day, ABC Middle East correspondent Matthew Doran here in Beirut.

Here’s your daily roundup of everything happening in the war across this region after another busy weekend.

Iran war live updates: For all the latest news on the war in the Middle East, read our blog.

Here’s what you need to know today:Iran has issued a grave threat against much of the Middle East, if US President Donald Trump follows through on his ultimatum to “obliterate” Iranian power plants if the country refuses to fully reopen the Strait of Hormuz to international shipping by the early hours of Tuesday, local time. Iran’s parliamentary speaker has said energy facilities and critical infrastructure across the region will be “irreversibly destroyed”.That threat and counter-threat will likely send shockwaves through global stockmarkets when they reopen today. Oil, for example, is already at its highest levels in four years. And in a sign of how much that irks the Trump administration, it decided to lift sanctions on Iranian oil to try to ease market pressure. Iran has launched wave after wave of missiles at Israel over the weekend in some of the biggest strikes of the war, now ending its 23rd day. Around 200 people were injured in Israel’s south when missiles hit the towns of Arad and Dimona. That’s near Israel’s nuclear facility, but Prime Minister Benjamin Netanyahu says the sites have not been jeopardised.Further north, the Israeli military has launched major air strikes across southern Lebanon, hitting bridges connecting towns and cities to the rest of the country. Israel’s defense minister has also ordered the demolition of Lebanese homes along the border to protect Israel – in a move akin to what the IDF did in Gaza. Earlier, a Hezbollah rocket killed a man in northern Israel.In the Gulf, the United Arab Emirates has been forced to continue intercepting drones and missiles. The anger across the Arabian Peninsula over Iranian retaliatory attacks has prompted the Saudi government to kick four Iranian diplomats and the embassy’s defence attache out of the country – something Qatar did last week.Here’s what all that means

The world could be about to witness yet another dramatic, deadly and dangerous escalation in the war. Yes, there’s still more room for this to get far worse.

On Saturday, Mr Trump took to his Truth Social platform, where he frequently announces major changes in policy in his own unique style, to issue a 48-hour deadline to Iran.

If Iran doesn’t stop throttling the Strait of Hormuz, one of the most important global shipping routes, “the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!”. (Emphasis added by the occupant of the Oval Office, not this correspondent).

Never one to shy away from rhetorical escalation, Iran hit back. The speaker of the nation’s parliament, Mohammad Baqer Qalibaf, weighed in, posting on X that if Iran is attacked in such a way, “critical infrastructure, and energy and oil infrastructure throughout the region, will be considered legitimate targets and irreversibly destroyed, and oil prices will rise for a long time”.

There have already been major hits across the region. One in Qatar will take years to repair, and cost the country’s budget $US20 billion ($28 billion) a year in lost earnings. Apocalyptic scenes were witnessed across Tehran when Israel attacked fuel depots it said were part of the war machine, with clouds of black smoke choking the city.

Iran insists the Strait is open to traffic – just not to ships linked to its “enemies”, the United States and Israel. But if things don’t change, and Mr Trump follows through on his threat, this could explode (quite literally) even further.

The US president has been criticising world leaders for not joining efforts to keep the Strait of Hormuz open – admonishing them publicly, while also insisting the US doesn’t need their help. Israel’s Prime Minister has echoed sentiments around collective action. 

Many have speculated on Benjamin Netanyahu’s demise and that recent appearances have been AI-generated.

But he was seen in person – including by our correspondent Kathryn Diss – touring a site in Dimona, where Iranian missiles injured dozens on Saturday night.

“Israel and the United States are working together for the entire world, and it’s time to see the leaders of the rest of the countries join up,” he said. “I’m happy to say that I can see some of them beginning to move in that direction, but more is needed.”

Here’s the impact in AustraliaMarkets are (still) getting it all wrong: That’s the upshot from the ABC’s Alan Kohler, who sees a “bonkers” reaction on global indices as an indication of how much traders really want to believe everything will be OK.And here’s how to stay up to date:

You can keep track of the latest updates from Iran and around the world throughout the day via our live blog.

Thanks for joining me. I’ll see you at the same time tomorrow.

LoadingLoading…