Are Israel and Iran headed for a war? Know what can happen
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The Middle East conflict between Israel and Iran is escalating, with Iran threatening to attack Israel and Israel preparing for potential direct assault. The conflict stems from a suspected Israeli strike on an Iranian consular building in Syria that killed 12 people. The situation poses risks of wider conflict and economic impact, including inflationary pressures in the global economy. The United States has expressed support for Israel and warned Iran not to proceed. Iran has seized an Israel-linked ship near the Strait of Hormuz. The state of play involves threats and calls for restraint from various countries, including the US, Russia, Germany, and Britain. The conflict has spread across the Middle East, with Iran-backed groups declaring support for the Palestinians and waging attacks from Lebanon, Yemen, and Iraq. The exact nature of Iran's retaliation remains uncertain, but experts suggest that Iran has various options, including direct attacks on Israeli targets or deniable strikes through armed groups it backs. The conflict has the potential to escalate into a wider war, with implications for global oil prices and inflation. The Reserve Bank of India has cited the conflict as a risk to price stability and has maintained its policy interest rates. The situation is fluid, and miscalculations could lead to unintended consequences.

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