March 2, 2026
13,432
161
123
2.11%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
55:38
6:09Now PlayingPresident Donald Trump briefly discusses strike operations on Iran ahead of a Medal of Honor Ceremony in the East Room of the White House. President Donald Trump has long said the US is done with nation-building. Now, he’s embraced a form of intervention that hearkens back to an earlier American era: openly targeting adversaries’ leaders for death or arrest while offering few details about how the US intends to manage the aftermath.
Just a few weeks ago, US forces seized Venezuela’s president in a surprise raid from the air. By ordering strikes on Iran that killed Ayatollah Ali Khamenei this weekend, Trump has gone even further. Scores have already been killed, including four US troops so far. Hundreds of Iranian missiles and drones have hit countries across the region, while American and Israeli forces continue their attacks. The escalation and its unpredictable consequences are already The message is unmistakable: almost no foreign adversary should feel secure, except perhaps those that have nuclear weapons. Rivals will have to contend with a more unrestrained form of American power — one that critics say shatters the legal restraints Washington has long demanded of others.
“Trump seems to have become worryingly ready to use the formidable US military power and to do so without any constraint — guided only by what he sees as US interests at any particular moment,” former UK National Security Adviser Peter Ricketts told Bloomberg. “This might-is-right approach sets a terrible precedent, where any country can feel free to attack the leader of any other — exactly what the UN Charter was intended to prevent.” As Iranian missiles struck targets across the Gulf, shipments through the Strait of Hormuz — the conduit for about a fifth of the world’s seaborne oil and gas — slowed sharply, with shipping lines suspending transits, insurers reassessing risk and some shipowners invoking war clauses to cancel voyages. Airlines grounded flights across the region, including global hubs like Dubai, with operations remaining restricted Monday.
Brent crude, already up nearly 20% this year, was trading around $77 a barrel after surging the most in four years Sunday. Bloomberg Economics estimates a full closure of the Strait could push oil as high as $108 a barrel. Saudi Arabia shut its biggest oil refinery after a drone attack. Natural gas prices in Europe jumped more than 50% after Qatar, a key supplier, shut production at the world’s largest LNG export facility. Gold and the dollar also rose, and US Treasuries weakened amid fears of rising inflation.
“When you look at past presidents, we’ve never used our full power,” said Jack Devine, former director of operations at the CIA. “We were at the more collegial 7 level. Trump has amped it up to the 10 level. This is a brave new world.”
While Trump has urged protesters who flooded Iran's streets in December and January to seize power, there is no sign that the administration has laid the To see financial research from Bloomberg Intelligence, go to BI IRAN
Some Iranians took to the streets to celebrate the death of a leader blamed for decades of repression, but large crowds also mourned him and there was no immediate sign of the broad uprising that Trump has called for in recent days.
Monday, Trump didn’t include regime change among the goals of the operation, citing instead the destruction of Iran’s missiles and navy, as well as preventing it from obtaining nuclear weapons and funding terrorism outside its borders. He vowed to continue attacks as long as needed.
“We projected four to five weeks, but we have capability to go far longer than that,” Trump said at a White House event. “Whatever the time is, it’s OK. Whatever it takes.”
Three US fighter jets crashed after being mistakenly shot by Kuwaiti air defenses, but the crews were able to eject from the planes.
Israeli Prime Minister Benjamin Netanyahu said attacks will intensify in the coming days. Israel expanded its campaign to Beirut after coming under attack from Hezbollah fighters in southern Lebanon, who are allied with Tehran.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.