On 28 Feb 2026, Iran launched coordinated drone and missile strikes targeting NSA Bahrain (US Fifth Fleet HQ), Al Udeid Air Base (Qatar), and Camp Arifjan (Kuwait) in retaliation for joint US-Israeli strikes on Iranian nuclear and military infrastructure. The Fifth Fleet is operating in a degraded posture from a forward location. Strait of Hormuz traffic is intermittently restricted. War-risk premiums have surged 340%. All Gulf state airspaces have been subject to closures. IRGC claims all US military targets across the Gulf were struck. Regional escalation risk remains at maximum levels.