Iran IRGC Strikes Israel, US Bases
Analysis based on 6 articles · First reported Mar 23, 2026 · Last updated Mar 24, 2026
The escalation of military strikes by the Islamic Revolutionary Guard Corps against Israel and United States military bases will likely increase geopolitical risk premiums, particularly in oil markets. The power outages in Kuwait highlight the potential for broader regional instability, impacting energy supply chains and potentially leading to higher insurance costs for shipping in the Persian Gulf.
The Islamic Revolutionary Guard Corps (IRGC) of Iran has launched 'Operation True Promise 4', the 78th wave of its retaliatory campaign, targeting highly sensitive Israeli sites including Dimona, Tel Aviv, and Eilat, as well as several United States military bases in the region. The IRGC utilized Emad and multi-warhead Qadr missile systems along with attack drones. This marks the second time Dimona, which hosts Israel's nuclear reactor complex, has been targeted recently. The IRGC claims an earlier strike caused over 200 casualties in Dimona and Arad. Iran warns of further escalation, stating that many IRGC combat units and millions of Basij volunteer force members remain undeployed. Concurrently, Kuwait experienced partial power outages due to falling shrapnel from air defense systems' interception operations, affecting seven overhead power transmission lines. The Kuwait — Ministry of Electricity, Water and Renewable Energy (Kuwait) is working to restore power.
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