Pro-monarchy rioters take to the streets of Tehran in August 1953. Intercontinentale/AFP/Getty Images

Since Israel began its concerted attack on Iran, calls for regime change have grown louder, with US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu raising the possibility of targeting Tehran’s all-powerful leader, Ayatollah Ali Khamenei.

Iranians have firsthand experience with the US enforcing a regime change in their country.

Here’s what happened:

Oil fields: In 1953, the US helped stage a coup to overthrow Iran’s democratically elected prime minister Mohammad Mossadegh.

He had pledged to nationalize the country’s oil fields – a move the US and Great Britain saw as a serious blow, given their dependence on oil from the Middle East.

Height of the Cold War: The move to nationalize was seen as popular in Iran and a victory for the then-USSR.

Strengthen Shah rule: The coup’s goal was to support Iran’s monarch, Mohammad Reza Pahlavi to rule as Shah of Iran, and appoint a new prime minister – Gen. Fazlollah Zahedi.

The coup: Before the coup, the CIA, along with the British Secret Intelligence Service, helped foment anti-Mossadegh fervor using propaganda. In 1953, the CIA and SIS helped pull pro-Shah forces together and organized large protests against Mossadegh, which were soon joined by the army.

US cash: To provide Zahedi, the country’s new prime minister, with some stability, the CIA covertly made $5,000,000 available within two days of him taking power, documents showed.

US acknowledgement: In 2013, declassified CIA documents were released, confirming the agency’s involvement for the first time. But the US role was known: Former President Barack Obama acknowledged involvement in the coup in 2009.

It backfired: After toppling Mossadegh, the US strengthened its support for Pahlavi to rule as Shah. Iranians resented the foreign interference, fueling anti-American sentiment in the country for decades.

Islamic Revolution: The Shah became a close ally of the US. But in the late 1970s, millions of Iranians took to the streets against his regime, which they viewed as corrupt and illegitimate. Secular protesters opposed his authoritarianism, while Islamist protesters opposed his modernization agenda.

The Shah was toppled in the 1979 Islamic revolution, which ended the country’s western-backed monarchy and ushered in the start of the Islamic Republic and clerical rule.

Iran and Israel exchanged fire for a sixth day after US President Donald Trump met with his national security team to discuss the escalating conflict, fuelling fresh speculation that Washington is on the verge of joining the attacks.

The meeting in the US capital on Tuesday lasted more than an hour, according to people familiar with the matter. Trump spoke with Israeli Prime Minister Benjamin Netanyahu afterwards, according to a White House official. No further official comments were made.

American weapons are seen as crucial to achieving a more complete destruction of the Islamic Republic’s atomic program. Yet while the US is Israel’s closest defence partner and arms supplier, Trump has so far resisted calls from some political allies to join in strikes against Iran. For now, the US says it’s only acting by helping Israel intercept missiles launched against it by Tehran.

Before gathering his advisers in the Situation Room, Trump posted a demand for Iran’s “UNCONDITIONAL SURRENDER” and warned of a possible strike against the country’s leader, Ayatollah Ali Khamenei.

“We know exactly where the so-called ‘Supreme Leader’ is hiding,” Trump said on social media. “He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now.”

Both Israel and Iran indicated that they planned to continue strikes.

The Israel Defense Forces said it had identified missiles launched from Iran toward Israel overnight and intercepted most of them. Early on Wednesday, the IDF said it hit a facility that made centrifuges for uranium enrichment.

The New York Times reported that Iran was preparing missiles for retaliatory strikes on US military interests in the Middle East if Trump decides on an offensive campaign.

German Chancellor Friedrich Merz told the country’s public broadcaster ZDF that if Iran doesn’t return to the negotiating table, then “the complete destruction of Iran’s nuclear program may be on the agenda.”

Iran had been negotiating with the US for two months over a nuclear deal before Israel launched its assault. The now-suspended talks were about curbing Tehran’s atomic program — which it insists is for peaceful, non-military purposes — in return for sanctions relief.

Trump earlier Tuesday posted on social media that “we now have complete and total control of the skies over Iran,” crediting US military equipment for helping Israel gain air superiority.

His vice president, JD Vance, said Trump was “making clear to the American people and the entire world that the US policy is that Iran can’t have a nuclear weapon.”

“There are many different ways and different options at the president’s disposal for how to accomplish that policy goal,” Vance said.

US stocks declined on Tuesday as Trump played down the possibility of a ceasefire between Israel and Iran, fueling widespread fears the war would spread to other countries in the energy-producing region. Oil climbed near a five-month high. Brent was steady at $76.40 a barrel in early trading on Wednesday.

On Tuesday evening, the State Department announced that the US Embassy in Jerusalem, as well as consular sections in Jerusalem and Tel Aviv, would be closed for the next three days.

The US is moving more military assets to the region. The USS Nimitz aircraft carrier strike group is sailing to the Middle East ahead of schedule, marking the first significant such move.

New satellite images suggest Israeli strikes damaged underground uranium-enrichment facilities at Natanz, Iran’s primary nuclear-fuel production site, the United Nations nuclear watchdog said in a post on X. The International Atomic Energy Agency has yet to detect damage at Iran’s other underground enrichment site in Fordow, according to the statement.

Republican Senator Lindsey Graham, a longtime advocate of war against Iran, said he “100% supports” US participation in striking Fordow.

“I’m all in for destroying their nuclear program. You can’t do it without destroying Fordow,” he told reporters in Washington. “If it takes bombs, bunker-buster bombs, so be it. If we need to fly with Israel, so be it.”

Israel has sought to draw the US — which has provided defensive support against Iranian missile fire — deeper into the conflict. Netanyahu told ABC News on Monday that the countries share a common enemy in Iran, and that it’s in America’s interest to support Israel.

Trump has left open the possibility of further talks on Iran’s atomic activities after five earlier rounds, but continued to hammer the idea that Tehran is at fault for not having already agreed to a deal that would have prevented Israel’s attacks. He told reporters that he “may” instruct a high-level official, such as special envoy Steven Witkoff or Vance, to meet with Iranian representatives.

Israel said it saw a drop-off in Iranian fire on Tuesday, with a military spokesperson saying “a few dozen” missiles had been launched since midnight compared with the hundreds seen over the weekend.

Still, Israel’s Oil Refineries Ltd. shut down its refinery after the complex was damaged and three employees were killed, the company said Monday. The site has a peak production capacity of close to 200,000 barrels of oil per day, with 70 per cent of products distributed in the Israeli market.

Long-standing tensions between Iran and Israel erupted into open fighting last week, when Israel carried out surprise attacks on Iranian military and nuclear sites and killed senior commanders and atomic scientists. Since then, it has achieved air superiority over much of Iran, allowing it to bomb major cities and infrastructure at will.

For Iran’s government, the showdown poses a existential threat. It can’t risk appearing weak, yet its retaliatory options are shrinking. Proxy forces it supports across the region have been largely degraded by Israeli wars since Oct. 2023.

More than 200 people have been killed in Iran by the Israeli strikes, according to the last official tally from the Iranian government. In Israel, the government has said 24 people have been killed — the same number reported the day before — and more than 600 injured.

Oil prices have risen in the past week as the conflict escalated, raising concerns about a wider hit to the global economy. Many analysts say Iran could choose to attack tankers sailing through the Strait of Hormuz, a key energy trade route. Qatar on Tuesday asked liquefied natural gas vessels to wait outside the strait until they’re ready to load amid the escalating clash.

More stories like this are available on bloomberg.com

Published on June 18, 2025

US Stock Market Live: Dow futures up 90 points awaiting Trump steps on Iran, Fed decision

By CNBCTV18.COM | Jun 18, 2025 1:51 PM IST (Updated)

US Stock Market Live: Futures on Wall Street continue to trade with losses after benchmark indices gave up all of Monday’s gains during Tuesday’s trading session. The Dow futures are currently trading 100 points lower, while the S&P 500 and Nasdaq futures are trading 15 and 75 points lower respectively. Watch this space for all the live updates.

US Stock Market Live: Futures on Wall Street continue to trade with losses after benchmark indices gave up all of Monday’s gains during Tuesday’s trading session. The Dow futures are currently trading 100 points lower, while the S&P 500 and Nasdaq futures are trading 15 and 75 points lower respectively. Markets were looking to attempt a recovery from lower levels during the first half of Tuesday’s trade but fell off the highs after US President Donald Trump demanded an unconditional surrender from Iran and wrote on Truth Social about their plans on Iran’s Supreme Leader Ayatollah Ali Khamenei. Reports that Trump is considering an airstrike on Iran also led to a deterioration in sentiment. Markets had shrugged off the poor retail sales and industrial production data that was reported earlier in the day. All eyes generally would have been on Jerome Powell tonight as he unveils the FOMC policy decision. His remarks on the future rate trajectory and the threat from rising oil prices will be keenly awaited by the street. Watch this space for all the live updates.

As the Israel-Iran aerial war enters its sixth day on Wednesday (Jun 18), speculation is mounting that the United States is considering joining its ally Israel in direct military action against Tehran.

US President Donald Trump on Tuesday called for Iran’s “unconditional surrender”, warning that Washington’s patience was wearing thin.

He has reportedly spoken to Israeli Prime Minister Benjamin Netanyahu over the phone, while the US military is said to be deploying more aircraft to the Middle East, including fighter jets and refuelling tankers.

Analysts told CNA this could mean Trump bringing the US into the conflict, though they cautioned it remains tough to tell for certain.

“Calling for the unconditional surrender of a sovereign nation state is pretty extreme. We haven’t heard that rhetoric very often,” noted politics professor Stephen Zunes from the University of San Francisco.

“It has really sent some shock waves and is making people think that this is not just going to be a series of strikes against Iranian nuclear facilities, but something much bigger.”

He pointed to how Israel’s military and Trump have urged residents to evacuate from Iran’s capital city of Tehran, which has a population of more than 9 million.

“There, indeed, could be a much bigger war, and the United States itself might get involved,” Zunes said.

In Iran, officials have reported at least 224 deaths, mostly civilians. In Israel, officials said 24 civilians have been killed.

Summary

Companies LATEST DEVELOPMENTS:

Iran targets Tel Aviv as aerial attacks by both sides persist

Israel strikes Khojir missile facility, Iranian websites say

US moves additional fighter jets to region

Trump says whereabouts of Iranian leader Khamenei are known

JERUSALEM/WASHINGTON/DUBAI, June 18 (Reuters) – Thousands of people were fleeing Tehran and other major cities, Iranian media reported, as Iran and Israel launched new missile strikes at each other despite U.S. President Donald Trump calling for Tehran’s unconditional surrender.

The Israeli military said two barrages of Iranian missiles were launched toward Israel in the first two hours of Wednesday morning. Explosions were heard over Tel Aviv.

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Israel told residents in a southwestern area of Tehran to evacuate so its air force could strike Iranian military installations. Thousands of people were fleeing the capital and major cities, with heavy traffic congesting roads and some routes suspended, Iranian media reported.

Iran’s semi-official Mehr news agency reported clashes early on Wednesday between security forces and unidentified gunmen in the city of Rey, south of Tehran, adding the assailants may be linked to Israel and intended to carry out “terrorist operations in densely populated areas of the capital”.

Iranian news websites said Israel was also attacking a university linked to Iran’s Revolutionary Guards in the country’s east, and the Khojir ballistic missile facility near Tehran, which was also targeted by Israeli airstrikes last October

An Israeli military official said 50 fighter jets struck around 20 targets in Tehran overnight, including sites producing raw materials, components and manufacturing systems for missiles.

The U.S. Office of the Director of National Intelligence says Iran is armed with the largest number of ballistic missiles in the Middle East. Iran has said its ballistic missiles are an important deterrent and retaliatory force against the U.S., Israel and other potential regional targets.

Trump warned on social media on Tuesday that U.S. patience was wearing thin. While he said there was no intention to kill Iran’s leader Ayatollah Ali Khamenei “for now,” his comments suggested a more aggressive stance toward Iran as he weighs whether to deepen U.S. involvement.

“We know exactly where the so-called ‘Supreme Leader’ is hiding,” he wrote on Truth Social. “We are not going to take him out (kill!), at least not for now … Our patience is wearing thin.”

Three minutes later Trump posted, “UNCONDITIONAL SURRENDER!”

Trump’s sometimes contradictory and cryptic messaging about the conflict between close U.S. ally Israel and longtime foe Iran has deepened the uncertainty surrounding the crisis. His public comments have ranged from military threats to diplomatic overtures, not uncommon for a president known for an often erratic approach to foreign policy.

A source familiar with internal discussions said Trump and his team are considering a number of options, including joining Israel on strikes against Iranian nuclear sites.

A White House official said Trump spoke to Israeli Prime Minister Benjamin Netanyahu by phone on Tuesday.

Trump also met for 90 minutes with his National Security Council on Tuesday afternoon to discuss the conflict, a White House official said. Details were not immediately available.

The U.S. is deploying more fighter aircraft to the Middle East and extending the deployment of other warplanes, three U.S. officials told Reuters. The U.S. has so far only taken indirect actions in the current conflict with Iran, including helping to shoot down missiles fired toward Israel.

Item 1 of 8 Smoke rises from a fire, as the Israel-Iran air war continues, in Tehran, Iran, in this still image obtained from social media video released June 17, 2025. Social Media/via REUTERS [1/8] Smoke rises from a fire, as the Israel-Iran air war continues, in Tehran, Iran, in this still image obtained from social media video released June 17, 2025. Social Media/via REUTERS Purchase Licensing Rights , opens new tab

A source with access to U.S. intelligence reports said Iran has moved some ballistic missile launchers, but it is difficult to determine if they were targeting U.S. forces or Israel.

However, Britain’s leader Keir Starmer, speaking at the Group of Seven nations summit in Canada that Trump left early , said there was no indication the U.S. was about to enter the conflict.

REGIONAL INFLUENCE WEAKENS

Khamenei’s main military and security advisers have been killed by Israeli strikes, hollowing out his inner circle and raising the risk of strategic errors, according to five people familiar with his decision-making process.

The strikes, which constitute the most dangerous security breach targeting Iranian leaders since the 1979 Islamic Revolution, have prompted the country’s cybersecurity command to ban officials from using communications devices and mobile phones, Fars news agency reported.

Ever since Iran-backed Hamas attacked Israel on October 7, 2023, and triggered the Gaza war, Khamenei’s regional influence has waned as Israel has pounded Iran’s proxies – from Hamas in Gaza to Hezbollah in Lebanon, the Houthis in Yemen and militias in Iraq. Iran’s close ally, Syria’s autocratic leader Bashar al-Assad, has been ousted.

Israel launched its air war, its largest ever on Iran, on Friday after saying it had concluded the Islamic Republic was on the verge of developing a nuclear weapon.

Iran denies seeking nuclear weapons and has pointed to its right to nuclear technology for peaceful purposes, including enrichment, as a party to the international Non-Proliferation Treaty.

Israel, which is not a party to the NPT, is the only country in the Middle East believed to have nuclear weapons. Israel does not deny or confirm that.

Netanyahu has stressed that he will not back down until Iran’s nuclear development is disabled, while Trump says the Israeli assault could end if Iran agrees to strict curbs on enrichment.

Before Israel’s attack began, the 35-nation board of governors of the U.N. nuclear watchdog, the International Atomic Energy Agency, declared Iran in breach of its non-proliferation obligations for the first time in almost 20 years.

The IAEA said on Tuesday an Israeli strike directly hit the underground enrichment halls at the Natanz facility.

Israel says it now has control of Iranian airspace and intends to escalate the campaign in the coming days.

But Israel will struggle to deal a knock-out blow to deeply buried nuclear sites like Fordow, which is dug beneath a mountain, without the U.S. joining the attack.

Iranian officials have reported 224 deaths, mostly civilians, while Israel said 24 civilians had been killed. Residents of both countries have been evacuated or fled

Global oil markets are on high alert following strikes on sites including the world’s biggest gas field, South Pars , shared by Iran and Qatar.

Reporting by Reuters; Writing by Nia Williams and Lincoln Feast; Editing by Saad Sayeed

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