- The U.S. struck Iranian military sites after Iran shot down a U.S. MQ-1 drone, and Iran’s Revolutionary Guards said they retaliated by targeting a U.S. air base.
- These are part of a string of sporadic exchanges since an April ceasefire as diplomats negotiate a longer truce.
- The fighting is disrupting energy markets (via threats to the Strait of Hormuz) and adding political pressure on leaders ahead of elections.
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