Iran’s stark warning for Israel

Iran is ready to act when it feels threatened [View in browser]( [Bloomberg]( Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up [here](. The conflict sprawling out of Gaza and across the Middle East might be one of proxies, but Iran has announced to the world – and specifically to Israel – that it’s willing to enter the fray itself when pushed. In less than 24 hours, Tehran [launched missiles]( at Iraq, Syria and Pakistan, claiming targets as diverse as an Israeli spy base, Islamic State and a little-known separatist militant group. [Pakistan retaliated today]( with its own strikes on “terrorist hideouts” in Iran, reportedly killing nine. The attacks came days after Tehran seized an oil tanker previously embroiled in a US sanctions bust-up, flexing its muscles near the Strait of Hormuz – a key conduit for Gulf oil exports – just as Houthi attacks in the Red Sea have already disrupted global shipping. That’s a shift from the first 100 days of the crisis sparked by Iran-backed Hamas’s attack on Israel. Iran had appeared content to leave the fight to its “axis of resistance” allies like Hezbollah in Lebanon and the Houthis in Yemen, while issuing diplomatically worded warnings of escalation. The interventions are a stark riposte to anyone who thought Iran’s apparent inaction until now signaled an appetite to avoid direct confrontation. It won’t be lost on Israel that the farthest of Iran’s string of missile strikes [could have reached Tel Aviv](, and that the Islamic Revolutionary Guard Corps used a longer-range weapon than they needed to hit their target. That doesn’t mean the conflict will spiral into direct Iranian attacks on Israel. But it shows Iran is in a precarious balancing act of backing Hamas in Gaza without inviting Israeli strikes at home, and responding when it feels threatened. — [Patrick Sykes]( WATCH: Patrick Sykes reports on the latest developments for Bloomberg Television. Source: Bloomberg Global Must Reads The US targeted 14 Houthi missiles overnight [just as they were ready to be launched](, Central Command said. Shortly before the US struck Yemen, the American-owned Genco Picardy was attacked by a drone in the Gulf of Aden, near the southern end of the Red Sea. The ship sustained some damage, but no injuries were reported and it remained seaworthy. Russian Foreign Minister Sergei Lavrov lashed out at the US over its support for Ukraine and [warned of the risks of confrontation]( between nuclear powers as he ruled out any discussions on strategic security with Washington. “We don’t see any grounds” for arms-control talks with the US, Lavrov told journalists in Moscow today. He plans to travel to New York to attend the United Nations Security Council next week. After a White House meeting with President Joe Biden, US Congressional leaders said they [were cautiously optimistic]( about reaching a deal on stricter border security that would unlock funding for Ukraine. Yet there were few signs of concrete progress yesterday toward breaking a months-long stalemate that has delayed aid for Kyiv as well as Israel. While Rishi Sunak’s signature plan to deport asylum-seekers to Rwanda survived a key vote in Parliament, the UK prime minister suffered a series of blows that [damaged his hopes]( of avoiding defeat at a general election likely later this year. A YouGov poll for the Times newspaper showed support for the governing Conservatives has fallen to 20%, with the Labour Party holding a 27-point lead. Argentine President Javier Milei calls her El Jefe, or The Boss, and he seeks her advice regarding all sorts of personal and government matters. His sister Karina Milei [wields such influence]( over her older brother that many observers credit her with his decision to dive into politics. Milei celebrates his election victory with Karina in Buenos Aires on Nov. 19. Photographer: Tomas Cuesta/Getty Images Singaporean Transport Minister S. Iswaran resigned after being [charged with corruption]( in the biggest political scandal in almost four decades, which has cast a pall on the city-state known for clean governance. Sudan is on the verge of a famine in parts of the capital, Khartoum, and the western Darfur region [due to the conflict]( between the army and a rival military faction, the World Food Programme said. US cabinet officials will host their Mexican counterparts tomorrow in Washington for meetings focused on [reducing the record number of migrants]( crossing the southern American border. Washington Dispatch Nikki Haley will be campaigning today in New Hampshire for Tuesday’s Republican primary even as Florida Governor Ron DeSantis, according to a senior campaign official, has shifted much of his operations to South Carolina, Haley’s home state. DeSantis finished a distant second behind Donald Trump in this week’s Iowa caucuses. He’s expected to be in the Granite State tomorrow and then [spend this weekend in South Carolina](, which holds its party primary on Feb. 24. It’s unclear whether he’ll return to New Hampshire before next week’s vote. A poll by the University of New Hampshire for CNN earlier this month had DeSantis with 5% support and Haley perhaps able to catch up to Trump. The DeSantis campaign, which has spent relatively little time in New Hampshire, believes it may be more successful in South Carolina, a more conservative state, and even overtake Haley, a former governor. With Trump continuing to dominate the 2024 Republican nomination contest, Haley and DeSantis must choose where to make a stand as time runs out for both of them to convince voters — and donors — that they have any hope of defeating the former president. One thing to watch today: Initial jobless claims for the week ending Jan. 13 will be released. [Sign up for the Washington Edition newsletter]( for more from the US capital and watch Balance of Power at 5pm ET weekdays on Bloomberg Television. Chart of the Day The Caribbean is now the most dangerous region in the world for deadly gun violence, and its [leaders increasingly blame that on an influx of US weapons]( — and on what they call America’s lack of will to confront the smuggling at its source. Of the 10 countries with the highest homicide rates in 2022, five were in the Caribbean. And Finally Hundreds of pounds of Indian traditional sweets, private jets at a new airport, electric buses and a liquor ban are just some of the ways the holy town of Ayodhya is marking the [opening of a controversial temple]( dedicated to the Hindu god Ram in four days. It’s India’s biggest religious and political event of the year, with Prime Minister Narendra Modi set to take center stage during the inauguration of the building, located on the grounds once occupied by a 16th century mosque razed in 1992 by Hindu extremists. Students carry a painting of the Ram Mandir temple in Mumbai on Jan. 2. 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