Netanyahu: 70% of Iran's Steel Production Capacity Destroyed in Airstrikes

Israeli Prime Minister Benjamin Netanyahu announced that recent airstrikes have successfully crippled approximately 70% of Iran's steel production capacity. The operation specifically targeted the country's two largest producers, Khuzestan Steel and Mobarakeh Steel, which are now reportedly offline. According to Israeli officials, the destruction of this industrial infrastructure aims to starve the IRGC of financial resources and halt the domestic manufacturing of missiles and drones. In response to the escalation, reports indicate that the IRGC has retaliated by targeting American technology companies operating within the Gulf region. This significant escalation in industrial warfare maintains high volatility across energy markets and safe-haven assets like gold. Investors are closely monitoring the potential for further supply chain disruptions and the broader impact of regional retaliation on global markets.