A list of military firsts for Iran

There is no official confirmation from Iran about exactly how many drones or ballistic and cruise missiles it used to attack Israel, but the Israeli military said more than 300 were launched.

Iranian drones have been making international headlines for the past few years, especially following Russia’s invasion of Ukraine more than two years ago. Ukrainian officials say the Iranian-designed Shahed drones of the Russian military continue to rain down over their territory.

Shahed-136 kamikaze drones that carry a relatively small warhead weighing some 50kg (110 pounds) were used in the attack on Israel, Iranian state television said on Sunday.

Telegram channels affiliated with the IRGC said the Shahed-238, which is powered by a turbojet rather than the propeller on the 136 model, was also used in the attack. The 238 model sacrifices some manoeuvrability for significantly higher speeds that are believed to reach as high as 600kmph (372mph).

Iran has long been known to possess the largest and most varied missile arsenal in the Middle East, but this was by far the largest test of its capabilities.

State television said the Emad long-range ballistic missile and the Paveh cruise missile were used to attack Israel.

In February, in large-scale military exercises that included simulating an attack on the Palmachim airbase in Israel, the IRGC used Emad missiles and launched the Dezful ballistic missile from a warship.

Iran also possesses Fattah, a hypersonic ballistic missile that could theoretically arrive in Israel in as little as seven minutes, along with a cruise missile variant of the same family. There was no indication the missiles were used in the early Sunday attacks.

Either way, in multilayered attacks over several hours, Iran has just managed to conduct its largest-ever drone and missile strikes that covered some of their longest distances in a real military operation.

“The operation achieved a level of success that exceeded our expectations,” said IRGC commander-in-chief Hossein Salami, adding that the projectiles only targeted military sites, including the Nevatim airbase in the Negev desert that was allegedly used to launch the Israeli strikes on the Iranian consulate in Syria.

What are the economic effects?

The effect of the historic attacks on the already-troubled Iranian economy was likely lower than the weight of political and military dimensions on the list of considerations for Iranian leaders as they planned the offensive in almost two weeks since the consulate attack.

But as expected, there was an immediate reaction in local markets, with foreign currencies climbing amid rising anxieties over prospects of the conflict further sliding into a regional war.

The rial, Iran’s falling national currency, dropped to a new all-time low of about 670,000 per US dollar on Sunday before regaining some ground.

The semiofficial Tasnim news website reported on Sunday that very few currency and gold deals are taking place in Tehran and other markets as an atmosphere of caution is dominant.

The Tehran prosecutor’s office announced on Sunday that it opened a case against an unnamed journalist and the Jahan-e Sanat newspaper they worked for due to “disturbing the society’s psychological security and disturbing the economic atmosphere of the country”.