Iran fires missiles, drones at Bahrain; US intercepts
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- Iran fired ballistic missiles and drones toward Bahrain and Kuwait, which Bahrain's government said were intercepted early Saturday.
- Iran said it targeted U.S. military assets — the Ali Al Salem air base in Kuwait and the U.S. 5th Fleet in Bahrain — after U.S. attacks on surveillance facilities on Qeshm Island and near Sirik.
- U.S. Central Command reported shooting down two Iranian attack drones over the Strait of Hormuz and warned the drones posed an immediate threat to regional maritime traffic.
- U.S. forces shot down several Iranian missiles and drones and struck Iranian coastal surveillance radar sites in retaliation.
- U.S. Treasury is considering allowing Gulf allies to tap frozen Iranian assets to pay for war damages, as Pakistan's interior minister Mohsin Naqvi arrived in Iran for mediation.
Why it matters: U.S. and Gulf allies stand to recover frozen Iranian assets after Iran's launch of two drones, while Iran forfeits those funds and faces heightened maritime security costs.
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