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A senior Iranian military command said Wednesday that banks and financial institutions across the Middle East could become targets in retaliation for a joint U.S.-Israeli strike on a bank in Tehran.
The statement came from the Khatam al-Anbiya Headquarters, Iran’s emergency military command center, which said the attack had crossed a new line in the conflict.
"With this illegitimate and unconventional action in war, the enemy has left us the option to attack economic centers and banks belonging to the U.S. and Israel," the command said in a statement.
Iranian media earlier reported that employees at the targeted bank in Tehran were killed during the overnight airstrikes.
The warning raised concerns across the Gulf, where major financial hubs host large numbers of international lenders and investment institutions.
Dubai in the United Arab Emirates is considered particularly exposed due to the concentration of global banks operating in the city. Saudi Arabia and Bahrain could also face heightened risks given the size of their financial sectors.
Across the Gulf region, banks held about $3.5 trillion in total assets as of 2024, with leading lenders including Emirates NBD, Qatar National Bank, First Abu Dhabi Bank and Saudi National Bank.
Iran continued retaliatory operations against Gulf states hosting U.S. military bases since the conflict began on Feb. 28. Missile and drone attacks have repeatedly targeted energy and civilian infrastructure in the United Arab Emirates, Saudi Arabia, Bahrain, Qatar and Kuwait.
Early Wednesday, two Iranian drones struck near Dubai International Airport, the main hub of long-haul carrier Emirates and the world’s busiest airport for international travel. Four people were wounded but flight operations continued, according to the Dubai Media Office.
Elsewhere, a projectile hit a container ship in the Strait of Hormuz off the coast of Oman, setting the vessel on fire and forcing the crew to abandon ship, the British military said. Kuwait said its air defenses shot down eight Iranian drones, while Saudi Arabia reported intercepting five drones heading toward the Shaybah oil field.
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