National Treasury Tender March 2026: Ministry of Finance reveals the complete menu of instruments for the second call

📅 March 27, 2026 | By the Economy and Finance team

The national government, through the Ministry of Economy's Ministry of Finance, announced this Thursday, March 25, the menu of instruments that it will make available to investors in the National Treasury debt auction corresponding to the second call of March 2026.

The operation, which will take place this Friday, March 27 from 10:00 a.m. to 3:00 p.m., seeks to renew maturities for approximately $8 billion and consolidate the financing strategy in pesos and dollars with a diversified range that includes fixed rate, inflation adjustment (CER), TAMAR variable rate, dollar linked and hard dollar bonds. 💰

The receipt of bids will end at 3:00 p.m. on Friday and the settlement will be finalized on Monday, March 31, 2026 (T+2), according to the official statement published in argentina.gob.ar.

Why is this tender key? In a context of a sharp reduction in monetary issuance and greater market confidence in the economic management of Minister Luis Caputo, the Treasury seeks to validate competitive rates and extend terms, especially with the novelty of the new Bonar 2028 (AO28) that stretches maturities beyond the current electoral cycle. This instrument is in addition to the reopening of the Bonar 2027 (AO27) and represents a clear message of fiscal predictability.

Full menu of instruments offered by the Ministry of Finance

The offer includes seven main instruments plus a voluntary conversion option for the BONCER TZX26. Here is the official detail:

Instrument	Type	Expiration	Code / Novelty	Main conditions
National Treasury Bill Capitalizable in Pesos	Fixed rate	17/07/2026	New (S17L6)	Effective monthly rate to be determined in the tender. Full repayment at maturity.
National Treasury Bond Zero Coupon with CER Adjustment	CER Indexed	30/09/2027	New	Price determined in tender. Capital adjustment by CER.
National Treasury Bond Zero Coupon with CER Adjustment	CER Indexed	29/09/2028	New	Price determined in tender. Capital adjustment by CER.
National Treasury Bond at TAMAR Rate	Variable rate	26/02/2027	TMF27 - Reopening	Interest according to TAMAR (average deposits > $1,000 million).
National Treasury Bond Linked to the Dollar	Dollar Linked	30/06/2028	New	Subscription in pesos at the reference exchange rate. Payment in pesos adjusted per dollar.
National Treasury Bond in Dollars 6%	Hard Dollar	29/10/2027	AO27 - Reapertura	TNA 6% payable monthly. Up to USD 150 million + second round.
National Treasury Bond in Dollars 6%	Hard Dollar	31/10/2028	AO28 - New	TNA 6% payable monthly. Up to USD 150 million + second round (maximum total USD 2,000 million in the program).

In addition: Voluntary conversion of the TZX26 TRUMP (expiry 30/06/2026) by:

• Bono TAMAR nuevo (31/08/2027) o
• Bono CER nuevo (31/03/2028)

Source: Official statement from the Ministry of Finance – 25/03/2026.

Economic context and market expectations

This auction represents a key test to measure the appetite of local and institutional investors (including ANSES, which has significant exposure) in a scenario of falling inflation and stabilized official dollar. Analysts expect a rollover of more than 100%, similar to that recorded in previous calls, thanks to the diversity of instruments that cover different profiles: conservative (fixed rate and TAMAR), inflationary (CER) and dollarized.

The inclusion of the new Bonar 2028 is one of the great novelties. With an annual nominal rate of 6%, the instrument allows the Treasury to raise fresh dollars to strengthen reserves and extend the debt profile beyond 2027, reducing future pressure on the exchange rate.

Federico Furiase, Secretary of Finance, has been implementing a strategy of "smart financing" that combines attractive yields with longer terms, in line with the objective of eliminating the primary fiscal deficit.

What do investors need to know?

• Individuals and legal entities can participate through authorized settlement and custody agents (ALyCs).
• The tender is by price (the cut-off rate is determined).
• Hard dollar bonds (AO27 and AO28) are subscribed exclusively in US dollars.
• Strong demand for CER and dollar-linked instruments is expected in the face of possible volatility scenarios.

Approximate reading time: 6 minutes.

Keywords for SEO: National Treasury tender March 2026, Ministry of Finance instruments menu, second debt call March, LECAP 17/07/2026, BONCER 2027 2028, Bonar AO28 new, rollover $8 billion, Luis Caputo financing.

⚡ BREAKING |  FOREIGN POLICY

 

Milei closes CPAC in Budapest: "We reduced poverty from 57% to 30%"

The Argentine president starred in a historic day in Hungary: he was the first national leader to visit the European country, met privately with Viktor Orbán, received an honorary university degree and closed the most important Conservative Political Action Conference of the year with a fiery speech.

📅 21/03/2026 Date

🇭🇺 Budapest, Hungary Location

⏱️ 7 minutes Reading Time

🌎 International Section

 

🏰 A historic visit: the first Argentine president in Hungary

Budapest, March 21, 2026. President Javier Milei landed in the Hungarian capital on Friday afternoon to star, in less than 24 hours, in one of the most symbolic foreign policy days of his administration. He thus became the first Argentine president to officially visit Hungary, sealing an ideological and strategic link with one of the most influential leaders of the new global right.

The day began with the honors of state protocol: Milei was received with a red carpet and trumpets at the Sándor Palace, the official residence of the president of Hungary, Tamás Sulyok. As a gift, he received a small sculpture of Herend porcelain – one of the oldest artisan brands in Europe, with more than two centuries of royal manufacturing tradition – in a gesture that the Hungarian hosts reserve for visits of high protocol value.

🤝 The one-on-one with Orbán at the Carmelite Monastery

The moment of greatest diplomatic density came at 12:10 local time (08:10 in Argentina), when Milei was received by Prime Minister Viktor Orbán at the Carmelite Monastery of Buda, the seat of the Hungarian government. The meeting had two instances: a formal meeting between the entire delegations, and a one-on-one conversation between the two leaders, accompanied only by their interpreters. A format that Orbán reserves for his closest allies.

While the presidents were talking, the Secretary General of the Presidency, Karina Milei, and Foreign Minister Pablo Quirno held a parallel meeting with the Hungarian Minister of Foreign Affairs, Péter Szijjártó. At that table, the Argentine official pointed out that progress was made in the expansion of the trade link and that Argentina is presented as "a reliable partner, with a wide exportable supply of food and attractive conditions for investment."

The harmony between the two leaders is not new. Orbán was one of the few international authorities who attended Milei's inauguration ceremony on December 10, 2023, and at the opening of this edition of CPAC he described him as "a world star of Western values". Analysts interpret the alliance as the articulation of a transatlantic conservative axis that links Argentine economic deregulation with Hungarian sovereignty nationalism.

🎤 The closing speech: figures, geopolitics and controversy

At 4:30 p.m. local time (12:30 p.m. in Argentina), Milei took the center stage of the MTK Sports Centre in Budapest to deliver the closing speech of CPAC Hungary 2026, in front of hundreds of leaders, intellectuals and conservative leaders from around the world. It was presented by the director of the Hungarian chapter, Miklós Szanthó, in an event that the Casa Rosada broadcast live with an epic soundtrack.

In his speech, the president reviewed the economic achievements of his administration: he highlighted having made a fiscal adjustment of about 15 points of GDP in just six months, and affirmed that he had "returned to Argentines close to 90 billion dollars." His central figure was the reduction of poverty: from 57% – a legacy he attributed to the previous government – to the current 30%, which is equivalent to lifting more than 15 million people out of that condition.

📊 Key indicators of the presidential speech

Indicator	Before (2023)	Today (2026)
📉 Poverty	57%	30% (↓ 47%)
💰 Fiscal adjustment	—	~15 pts of GDP
🏦 Return to the private sector	—	USD 90,000 M
🌍 Country risk	High	Significant reduction
🗳️ Election result	—	Victoria LLA (Oct. 2025)

 

🌶️ The most controversial definitions

The speech also included statements of strong diplomatic impact. Milei took up the qualification of Santiago Abascal – leader of the Spanish Vox party – who called the president of the Spanish government Pedro Sánchez a "pigeon of a tyrant", and signed it before the international audience. In addition, he questioned the European "nanny state model" and criticised the subjection of states to "the unilateral opinions of supranational bodies".

In the chapter on regional geopolitics, Milei celebrated the expectation of an intervention by Donald Trump in Cuba and predicted that the island will be "free" before mid-2026, comparing the process to a Latin American "perestroika". He also highlighted Orbán's migration policy, anticipating that he would cite it as a model in his speech.

🎓 Honorary degree at Ludovika University

Before returning at 7:00 p.m. local time, Milei received the "Civis Universitatis Honoris Causa" distinction from the Ludovika University of Public Service in Budapest, one of the most prestigious academic institutions in the European country. The ceremony was presided over by the rector Gergely Deli and recognized the Argentine president for his "values and significant contributions to society, politics and academia."

The award adds to a collection of international recognitions that the libertarian leader has accumulated throughout his administration, in a pattern that reflects the consolidation of his image as an intellectual figure of the global conservative movement, beyond his role as head of state of an emerging country.

✈️ Context: express tour and convulsed local agenda

The visit to Budapest is Milei's fourth international stop in the same week, which previously took him to the United States, Spain and Chile, configuring one of the most intense foreign agendas of any Argentine president in the recent era. The third consecutive weekend outside the country consolidates its strategy of insertion into global conservative networks, at a time when the domestic agenda presents open fronts: the $LIBRA case, the questioned activities of Cabinet Chief Manuel Adorni and the anniversary of the coup of March 24.

Once the agenda in Hungary was completed, the ARG 01 took off from Budapest at 20:30 local time (16:30 in Argentina). Its arrival at Ezeiza International Airport is scheduled for Sunday, March 22 at 09:00. A week of high political voltage awaits him, with the commemoration of the 50th anniversary of the coup d'état of March 24, 1976, which will concentrate marches and mobilizations throughout the country.

🔍 KEYWORDS & SEO

Javier Milei CPAC Budapest 2026 • Milei Viktor Orbán Hungary • CPAC Hungary 2026 • foreign policy Argentina • new global right • Milei poverty 30% • Conservative Political Action Conference • Milei Ludovika honorary title • Argentina international conservatism • Milei speech economy freedom

🕐 Timeline of the day in Budapest

11:00 a.m. (local)	🏛️ Bilateral meeting with President Tamás Sulyok at the Sándor Palace
12:10 p.m. (local)	🤝 Private meeting with PM Viktor Orbán at the Carmelite Monastery of Buda
4:30 p.m. (local)	🎤 CPAC Hungary 2026 closing speech at the MTK Sports Centre
7:00 p.m. (local)	🎓 Reception of the title "Civis Universitatis Honoris Causa" at Ludovika University
8:30 p.m. (local)	✈️ Return to ARG 01 to Buenos Aires (arrival Sunday 09:00)

 

✍️ Journalistic writing based on verified sources: Infobae, La Nación, El Cronista, La Posta Diario, Dataclave, Canal 26, Hungarian Conservative.

📌 Note: The poverty figures and economic indicators are statements by President Milei. Some data differ from independent measurements and international statistical bodies.

⛽ YPF: DEBT BUYBACK AND FINANCIAL PROFILE 2026 Class XXX Notes | Market Signals | Capital Strategy   March 14, 2026 • Journalistic Analysis • Economics & Capital Markets

 

🕐 Reading Time approx. 5–6 minutes

📅 Publication March 14, 2026

📍 Section Capital Markets

 

CAPITAL MARKETS • CORPORATE DEBT • YPF S.A.  • SPECIAL ANALYSIS

 

YPF repurchased debt for almost $50,000 million: a strategic move that sends signals to the market before the July maturity

 

In an operation that did not go unnoticed in the local and international capital markets, YPF S.A. notified this week to the National Securities Commission (CNV) and the Securities and Exchange Commission of the United States (SEC) that it repurchased Class XXX Negotiable Notes (YMCWO) for a total of $49,798,644,352, equivalent to USD 35.5 million of nominal value. The purchase was made at an average price of 98.83% of the nominal value, practically at par, between March 3 and 9, 2026.

📋 What was repurchased: the anatomy of the operation

 

Class XXX Negotiable Obligations (ON XXX) are corporate debt instruments denominated in dollars but traded in pesos in the local market, under the Frequent Issuer regime enabled by the National Securities Commission for companies with recurrent access to the capital market. They were first issued in July 2024 with a face value of $185 million, and reopened in April 2025 for an additional $204 million, totaling an original issuance of $389 million.

Its expiration is set for July 2026. The repurchase of USD 35.5 million in nominal value – 9.1% of the total issuance – at a price of almost par represents a concrete signal: YPF has sufficient liquidity to reduce its short-term liabilities before the market demands repayment. The repurchased bonds will not be cancelled but will be held in the company's portfolio.

 

FIELD	DETAIL
Instrument	Class XXX Notes (ticker: YMCWO)
Amount repurchased	$49,798,644,352 ARS (≈ USD 35,516,824 face value)
Buy-back period	March 3-9, 2026
Average price	98.83% of face value (almost at par)
Original issue	July 2024 — Face value: USD 185,000,000
Reopening	April 2025 — Additional: USD 204,000,000
Original Expiration	July 2026
Regime	Frequent Emitter (CNV — Argentina)
Destination	They will remain in the portfolio (they are not cancelled)
Notified to	CNV (Argentina) and SEC (USA) via 6-K Filing

 

📡 What it means for the market: solvency and possible refinancing

 

In the Argentine financial market, the repurchase of bonds by an issuing company is almost unanimously read as a positive sign. It implies that the company has the necessary cash flow to advance debt payments, that it does not need to wait for maturity under pressure, and that it has a proactive stance in the management of its liabilities.

"YPF seeks to strengthen its financial profile, send a signal of solvency to the market and gain margin to manage its liabilities in a volatile global context. Between the lines, some analysts interpret that it could be a step prior to a new issuance in better conditions: canceling debt that today pays higher rates to place new debt at a lower financial cost.   — Eric Paniagua, founder of Dekadrak VCC — El Cronista, March 2026

 

This reading gains strength if one considers that in February 2026 the company already launched the Class 42 Note, denominated in USD MEP, at a rate of 6.50% per year and a term of 18 months, with subscription through banks such as BBVA and Banco Nación. The pattern that emerges is clear: buy back more expensive debt and replace it with new instruments at more favorable conditions, taking advantage of the better Argentine macroeconomic context under the government of Javier Milei.

💡 Three reasons for YPF's buyback   1️⃣ MATURITIES MANAGEMENT: reduces the mass of debt to be paid in July 2026, avoiding concentrated cash pressures. 2️⃣ SOLVENCY SIGNAL: communicates to the market that the company has real liquidity, improving its implied credit rating. 3️⃣ PREPARATION FOR NEW ISSUANCE: frees up space to place debt at lower rates, capitalizing on the improvement in the macroeconomic environment.

 

📊 Context: YPF's debt cycle in 2025–2026

 

Jan. 2026	Class XXI ON buyback — USD 14 million. YPF announces investment of USD 6,000 million by 2026.
Feb. 2026	New 18-month USD MEP Class 42 ON issuance (6.50% per annum). Subscription via BBVA, Banco Nación and others.
Mar. 3–9	Buyback of ON Class XXX: $49,798 M ARS / USD 35.5 M at a price of 98.83% of the BV. Communicated to CNV and SEC.
Jul 2026	Original maturity of the Class XXX Note. Repurchased bonds will no longer incur payment obligations.
Outlook	Analysts estimate a possible new issuance at lower rates to replace repurchased debt.

 

🏛️ Regulatory framework: CNV, SEC and the Frequent Issuer regime

 

The operation was simultaneously communicated to two regulators: the National Securities Commission of Argentina, before which YPF operates as an issuer in the local market under the Frequent Issuer regime, and the Securities and Exchange Commission of the United States, before which YPF is listed as ADR (American Depositary Receipt) on the New York Stock Exchange.  with the obligation to file Forms 6-K each time a material event occurs.

The CNV's Frequent Issuer regime allows companies with a track record in the capital market to issue new instruments with simplified procedures, which gives YPF a window of operational agility to manage its debt on an ongoing basis and adapt to market conditions. This framework is what makes both successive buybacks and new issues possible in relatively short times.

⚖️ Key regulatory data of the operation   📌 Local regulator: Comisión Nacional de Valores (CNV) — Argentina 📌 International regulator: Securities and Exchange Commission (SEC) — USA 📄 SEC filing type: Form 6-K (foreign issuer material fact) 🏦 Trading market: BYMA (Bolsas y Mercados Argentinos) 🔖 Ticker of the repurchased instrument: YMCWO 📋 Issuance Regime: Frequent Issuer (CNV) — simplifies procedures for companies with a track record

 

📈 The buyback in perspective: YPF's financial power in 2026

 

To understand the relative weight of this operation, it is necessary to frame it in the company's overall results. YPF closed 2025 with a gross profit of USD 5,000 million, the highest in a decade, and a third quarter EBITDA of USD 1,357 million, 21% higher than the previous quarter. The company's total net debt remains at manageable levels relative to its projected annual EBITDA.

The investment planned for 2026 is USD 6,000 million, the largest in the company's history. In this context, a buyback of USD 35.5 million – barely 0.6% of the annual investment plan – represents a marginal financial cost with a relevant reputational and operating return: it improves the debt/EBITDA ratio, reduces the projected expenditures for the second half of the year and sends the market a message of control over liabilities.

🔢 YPF: Key Financial Indicators 2025–2026   💰 2025 gross profit: $5 billion (record for the decade) 📊 Q3 2025 EBITDA: USD 1,357 million (+21% quarter-on-quarter) 💵 Planned investment 2026: USD 6,000 million (historical record) 🛢️ Shale oil production nov. 2025: 200,000 bpd (own record) 📉 Q4 2025 maturities already cancelled: USD 479 million (commercial lines + amortizations) 🔁 2026 Rebuys: Class XXI ON (USD 14 M, January) + XXX Class ON (USD 35.5 M, March)

 

🎯 Conclusion: Active Liability Management as a Sign of Corporate Maturity

 

The buyback of the Class XXX notes is not an isolated operation: it is the expression of a systematic financial policy that YPF has been applying since the arrival of Horacio Marín as president of the company. Buying back debt on favorable terms, reducing concentrated maturities, broadening the investor base with new issues at more competitive rates, and communicating each move transparently to two regulators from different jurisdictions are hallmarks of a company that learned – with the blows of its history – that market confidence cannot be improvised.

For investors who have YPF instruments in their portfolio – whether stocks, ADRs or local bonds – this week's signal is clear: the company does not expect maturities to arrive; he goes to look for them. And that, in the Argentine capital market, is worth more than any prospect.

 

⚡ BREAKING NEWS     LIVE COVERAGE — MARCH 10, 2026

🌍 War in the Middle East: Oil Tops $120 and Trump Threatens "20 Times Stronger" Attack

 

The conflict between the US and Iran escalates to critical levels: the Secretary of War announces the "most intense day of attacks" on Iranian territory, while energy markets register their biggest rise since 2008 and Mojtaba Khamenei emerges as Iran's new supreme leader.

🕒	Publication date	Tuesday, March 10, 2026 — 08:45 AM (GMT-3)
⏱	Reading Time	Approximately 6-8 minutes
📝	Author	International Editorial Staff — Geopolitics Desk
🌏	Sources	Reuters, AP, Al Jazeera, The Guardian, Bloomberg
🔍	SEO Keywords	war Iran, oil $120, Trump threatens, Strait of Hormuz, Mokhtaba Khamenei

 

 

International oil markets recorded their biggest shock in almost two decades on Monday. West Texas Intermediate (WTI) crude broke above the psychological barrier of $100 per barrel and reached as high as $120 during the weekly open, boosted by escalating military tensions in the Persian Gulf and the growing threat over the Strait of Hormuz.

North Sea Brent followed the same upward trend, accumulating an increase of more than 18% in just 72 hours. Analysts at Goldman Sachs and JPMorgan warn that, if an effective blockade of the strait is confirmed, the price of a barrel could climb to 150-180 dollars, with devastating consequences for the global economy.

The Strait of Hormuz is the most critical energy bottleneck on the planet: approximately 20% of the world's oil supply and 17% of liquefied natural gas (LNG) transit its barely 33 kilometers of navigable width daily. Its closure would mean an unprecedented modern energy shock.

 

The U.S. Secretary of Defense confirmed that Monday, March 10, would be the "most intense day of attacks" launched on Iranian territory since the start of hostilities. Military operations include bombing of nuclear and military infrastructure, Islamic Revolutionary Guard Corps bases and strategic logistics centers.

Pentagon sources indicated that more than 150 air missions were executed in the last 24 hours, involving B-2 Spirit bombers, F-35s and the use of Tomahawk cruise missiles launched from aircraft carriers positioned in the Arabian Sea. The operation has been dubbed "Operation Desert Shield II" internally.

Tel Aviv officially backed Washington's operations, while NATO expressed "concern" but avoided speaking out against the intervention. China and Russia convened an emergency session of the UN Security Council that was blocked by the US veto.

 

At the heart of Iran's political-military chaos, one figure has emerged with unusual speed: Mojtaba Khamenei, youngest son of Ayatollah Ali Khamenei, consolidated as the new Supreme Leader of the Islamic Republic of Iran in the midst of the conflict.

The 55-year-old Mojtaba has been in the shadows of Iranian power for decades, building a network of loyalties within Qom's Revolutionary Guards and angry circles. His appointment was confirmed by the Council of Experts in an extraordinary session convened as a matter of urgency, in what analysts read as a sign that Iran's traditional leadership has suffered a severe impact.

Unlike his father, who is renowned for his strategic diplomacy and calculated patience, analysts describe Mojtaba as more combative and ideologically rigid. His first public statement was lapidary: "Iran will not back down from the crusaders of the 21st century."

 

The international community is watching the escalating spiral with growing alarm. The European Union issued a joint statement of the 27 member countries demanding "an immediate cessation of hostilities and a return to diplomacy", although without announcing concrete measures.

Saudi Arabia and the United Arab Emirates, in a position of extremely delicate balance, declared neutrality but activated their air defence systems. Global stock markets are trading in risk-off mode: Wall Street fell 4.2%, while gold rose to $2,890 an ounce, its all-time high.

In Latin America, oil-importing countries such as Argentina, Brazil and Chile warned of the impact on their balances of payments, with fuel inflation projections that could exceed 40% in the next 90 days if the conflict drags on.

 

🛢️	WTI Oil Price	$119.80 USD/barrel (weekly peak)
⚔️	U.S. Air Missions	+150 in the last 24 hours over Iran
🚢	Strait of Hormuz Traffic News	20% of the world's oil supply
📉	Wall Street Crash	-4.2% at Monday's open
🎟️	Gold Price	$2,890/oz (all-time high)
🇮🇷	New leader Iran	Mojtaba Khamenei — 55 years old
🌏	UN veto	U.S. blocks emergency session of the Security Council

 

 

The scenarios being considered by the main international policy think tanks point to three possible paths in the short term:

1.      Scenario 1 — Negotiated de-escalation: International pressure and the economic impact on the US itself (inflation, markets) force a tactical pause and indirect diplomatic channels are opened through Qatar or Turkey.

2.     Scenario 2 — Regional escalation: Iran acts on the Strait of Hormuz partially or totally, dragging Hezbollah, Iraqi militias and Yemeni Houthis into the conflict. The price of the barrel exceeds 150 dollars.

3.     Scenario 3 — Forced containment: The U.S. achieves its military objectives without provoking a strait-closure response; Mojtaba Khamenei agrees to negotiate from a weakened position. Oil retreats to $85-90.

 

 

#GuerraIranEEUU  #PetroleoHoy  #EstrChoOrmuz  #TrumpIran  #MojtabaJamenei  #BreakingNews  #MedioOriente2026  #CrisisEnergética  #OilPrice  #GeopoliticaGlobal  #GuerraPersia  #NotiicasInternacionales 

 

⚠️ This is a developing story. Data can be updated at any time.

📅 Last updated: 10/03/2026 — 08:45 AM |  🌐 Source: International Desk

🌎 INTERNATIONAL POLITICS ·  SAFETY ·  GEOPOLITICS

Trump launched the "Shield of the Americas" with Milei in the front row: a military coalition against narco-terrorism and China

The U.S. president brought together 12 allied Latin American leaders in Miami to sign a regional military cooperation agreement. Argentina was the only country in Latin America to back the attacks on Iran.

⏱  READING TIME: 6–7 minutes    •    📅  March 8, 2026    •    📍  Miami / Buenos Aires

 

Donald Trump brought together twelve Latin American leaders on Saturday at the Doral Hotel in Miami to announce the creation of the "Shield of the Americas," a regional geopolitical and military coalition aimed at combating drug trafficking, dismantling criminal cartels and containing China's commercial influence on the continent. Argentine President Javier Milei was in the front row, ratifying Buenos Aires' unconditional alignment with Washington.

 

📊 KEY FACTS FROM THE SUMMIT 🌎  12 countries  signed on as founding members of the Shield of the Americas. 🤝  Milei's 16th trip  abroad since he assumed the presidency. 📉  96%  reduction in drug trafficking by sea, according to Trump. ⚔️  Lethal force  Trump proposed using military power to "destroy terrorist cartels and networks." 🇦🇷  The only country  in Latin America that officially backed the U.S. attacks on Iran.

 

The day began when after 9 a.m., local time, Trump received the twelve Latin American leaders at the Doral Hotel — which he owns — and posed together for the official photo of the summit. Milei, identified by alphabetical order, occupied a prominent place in the second row.

In his inaugural address, the U.S. president did not skimp on bellicose rhetoric. "The heart of our agreement is a commitment to use lethal military force to destroy sinister cartels and terrorist networks once and for all," he said. In addition, he announced the formation of the Anti-Cartel Coalition of the Americas, a military-oriented structure whose objective is to dismantle drug trafficking networks operating in the hemisphere.

 

❝ We have come to announce a new military coalition to eradicate cartels and crime. — Donald Trump — Shield Summit of the Americas, Miami, March 7, 2026

 

Trump also took advantage of the stage to highlight his Argentine ally. Looking directly at Milei, he recalled his support during the October 2025 legislative elections: "He was a couple of points down, he went up like a rocket in Argentina," the Republican celebrated, in a reference to the favorable result obtained by La Libertad Avanza in the midterm elections.

The summit also formalized a larger geopolitical agenda: to curb China's expansion in Latin America. Washington sees President Xi Jinping as seeking to consolidate the region within its global supply chains, expanding its economic and political influence. However, the ongoing military conflict between the United States, Israel, and Iran shifted that axis to immediate security issues.

 

The alliance is made up of governments aligned with the regional right or center-right, all of them with close ties to the Trump administration:

 

🌎 FOUNDING COUNTRIES OF THE COAT OF ARMS OF THE AMERICAS 🇦🇷  Argentina: Javier Milei 🇧🇴  Bolivia: Rodrigo Paz 🇨🇱  Chile: José Antonio Kast (president-elect) 🇨🇷  Costa Rica: Rodrigo Chaves 🇩🇴  Dominican Republic: Luis Abinader 🇪🇨  Ecuador: Daniel Noboa 🇸🇻  El Salvador: Nayib Bukele 🇭🇳  Honduras: Nasry 'Tito' Asfura 🇬🇾  Guyana: Mohamed Irfaan Ali 🇵🇦  Panama: José Raúl Mulino 🇵🇾  Paraguay: Santiago Peña 🇹🇹  Trinidad and Tobago: Kamla Persad-Bissessar

 

The Argentine president arrived in Miami on Friday night and stayed at the Trump Doral hotel itself. He was accompanied by Karina Milei (Secretary General of the Presidency), Manuel Adorni (Chief of Staff) and Foreign Minister Pablo Quirno, who upon entering the summit hall held brief exchanges with Secretary of State Marco Rubio, Secretary of the Treasury Scott Bessent and Secretary of War Pete Hegseth.

Upon taking the stage, Milei and Trump greeted each other with visible affection. Both posed with their thumbs up for photographers, in an image that has already become a recurring symbol of this alliance. The Argentine president began to listen to the speech without headphones for translation, although a few minutes later he put them on with the help of Quirno.

 

⚠️  Argentina was the only Latin American country to officially back U.S. and Israeli military strikes against Iran, in a position isolated from the entire region and which generated diplomatic tensions with several neighbors.

 

This ideological and strategic harmony with Washington is not new. From the beginning of his administration, Milei made alignment with Trump a central axis of his foreign policy. The Miami summit marks the president's 16th trip abroad since taking office, and strengthens that bond at a time of high international tension.

 

Although the summit was initially convened to counter China's influence, the U.S.-Israeli war against Iran—which began a week earlier—dominated much of the agenda. Trump maintained that the Iranian conflict is not a matter alien to the American continent, and stressed that Iran maintains strategic ties with Cuba, Nicaragua and Nicolás Maduro's regime in Venezuela.

"They are a cancer," Trump said, referring to criminal cartels and terrorist networks linked to Iran. He said recent military operations — including the downing of Iranian ships and communication systems — prevented Tehran from obtaining a nuclear weapon, calling the result "a fifteen on a scale of ten."

 

❝ The only way to defeat our enemies is by appealing to our military apparatus. — Donald Trump — Miami, March 7, 2026

 

According to reports, at the close of the summit, the Latin American leaders held bilateral meetings with Rubio and Bessent, in which trade and security issues specific to each country were discussed. Argentina negotiated aspects related to the trade agreement signed with the U.S. in November 2025.

 

After the summit, Milei participated in a working lunch with Trump, in which the negotiations of the bilateral agreement signed in November 2025 were discussed. He then attended the award ceremony of the Hispanic Prosperity Gala, organized by Latino Wall Street, and left for New York.

Sun. 8/3	🕍 Visit to the tomb of Rebbe Lubavitch, New York.
Mon. 9/3	🎓 Dissertation at Yeshiva University. Evening: The Algemeiner's Annual J100 Gala.
Mar. 10/3	💼 Meeting with Jamie Dimon (JPMorgan) · Opening of Argentina Week 2026 with +300 entrepreneurs.
Wed. 11/3	🇨🇱 Santiago de Chile: Attendance at the inauguration of José Antonio Kast as president of Chile.

 

The launch of the Shield of the Americas marks a turning point in Washington's foreign policy toward the region. From the start of his second term, Trump sought to consolidate an alliance architecture centered on conservative leaders who share his vision on security, migration and free markets, while diplomatically isolating leftist governments such as Venezuela, Cuba and Nicaragua.

For Argentina, the alignment has concrete consequences: greater access to international financial markets, political support for organizations such as the IMF and a privileged position in the new hemispheric geometry that Washington is designing. But it also entails costs: isolation within the Latin American region, tensions with traditional Mercosur partners and exposure to the ups and downs of Trump's foreign policy.

Secretary of State Marco Rubio is also expected to travel to Buenos Aires in the coming days  to meet with Milei and Foreign Minister Quirno, in what would be the highest-ranking visit of the U.S. government to Argentina since Milei took office.

 

❝ Argentina not only signed the Coat of the Americas: it is Trump's most visible and active partner in all of Latin America. — Editorial analysis

 

📌  Sources: La Nación, Infobae, Perfil, Ambito Financiero, CNN en Español, France 24, Al Jazeera and Office of the President of Argentina (@OPRArgentina).

ARGENTINA HAS NEW LABOR LAW

ARGENTINA • NATIONAL POLICY • MARCH 6, 2026

 

— LABOR REFORM • LAW NO. 27,802 —

⚖️ ARGENTINA HAS NEW LABOR LAW

Milei enacted Decree 137/2026 and puts into effect the most profound reform of the labor market in three decades. The CGT reacted immediately with a judicial injunction.

⏱ Reading time: approx. 8 minutes • 🗓️ March 6, 2026 • 📰 Sources: Infobae, La Nación, Ámbito , Perfil, TN

 

A few hours before dawn on Friday, March 6, when most Argentines were still asleep, the Official Gazette published Decree 137/2026: the enactment of Law No. 27,802, called the Labor Modernization Law. With the signatures of President Javier Milei, Cabinet Chief Manuel Adorni and Human Capital Minister Sandra Pettovello, the government consummated what it considers its biggest legislative victory since arriving at the Casa Rosada. In less than twelve hours, the trade union world responded with its own weapons: a judicial injunction.

 

📅 Date of Enactment	March 6, 2026
📋 Law number	Law No. 27.802
📜 Promulgating Decree	Decree 137/2026 — Official Gazette
👥 Signatures	Milei / Adorni / Pettovello
🗽 Approval in the Senate	February 27, 2026 — 42 votes for, 28 against
⚖️ CGT Amparo	Contentious Court Adm. Fed. No. 7 — Judge Lavié Pico

 

The history of this law began months before its publication. The Executive Branch sent the bill to Congress during the extraordinary sessions convened by President Milei, within the framework of a legislative agenda of the highest priority for the Government. The Chamber of Senators granted half sanction on February 12, but the rule returned to the floor after Deputies eliminated Article 44 of the original text – referring to medical leaves – one of the most sensitive points of the debate.

On February 27, the Senate gave final approval with 42 affirmative votes, 28 negative and 2 abstentions. Exactly a week later, in the early hours of Friday morning, the Executive completed the cycle with the enactment. According to the text of the decree: "In use of the powers conferred by Article 78 of the National Constitution, Law No. 27,802 sanctioned by the Honorable Congress of the Nation in its session of February 27, 2026 is promulgated."

For the ruling party, the law represents the end of a cycle: the end of a labor model that they consider obsolete, litigious and discourages investment. For the unions and part of the opposition, on the other hand, it is a historic setback in the rights acquired by workers.

 

The law introduces profound modifications in several pillars of Argentine labor law. Here are the central points:

 

1. Severance payments

The calculation of compensation for dismissal without cause will no longer include the Christmas bonus, vacations or awards: only the monthly, normal and customary remuneration will be considered. In addition, compensation becomes the only economic compensation for the dismissal. The update of labor credits will be calculated by CPI plus 3% per year.

2. Employment Assistance Fund (FAL)

A fund financed with monthly contributions from employers is created: 1% for large companies and 2.5% for SMEs. Its purpose is to cover the costs of dismissal. It will come into force on June 1, 2026 and will only respond after receiving at least six monthly contributions. It will not apply to unregistered workers.

3. Unregistered employment: end of fines

The penalties of Law 24.013 are eliminated for cases of undeclared employment or deficient registration. Instead, an incentive scheme is implemented: employers who regularize workers will not pay fines, although they will have to pay salary and social security differences. The Program for the Promotion of Registered Employment provides for the forgiveness of up to 70% of contribution debts.

4. Right to strike: restriction on essential services

In activities declared an "essential service" – health, drinking water, telecommunications, aeronautics, port control – 75% of the personnel on active duty must be guaranteed during industrial action. In "transcendental" services, the floor is 50%. Active participation in blockades or occupations of establishments is established as grounds for dismissal with just cause.

5. Collective bargaining and trade unions

Collective agreements of a larger scope may not modify the content of agreements of a lesser scope, decentralizing negotiation and reducing the weight of national unions. Automatic ultra-activity is eliminated: expired agreements will no longer be in force indefinitely, forcing a new negotiation from scratch. Employers may no longer act as agents for withholding union dues without the express authorization of the worker.

6. Digital platforms and freelancers

The law explicitly incorporates "independent workers and their collaborators" and "independent providers of technological platforms" among those excluded from the regime of the Employment Contract Law, clarifying that this relationship does not imply subordination or labor dependence.

 

⚠️ POINTS THAT COULD BE REJECTED BY THE COURTS

▸ Limitation of the right to strike in essential services (already declared inconst. in DNU 70/2023)

▸ Prioritization of company agreements over national agreements

▸ Elimination of ultra-activity in collective agreements

▸ Transfer of the national labor jurisdiction to the City of Buenos Aires

 

Just hours after the publication in the Official Gazette, the General Confederation of Labor (CGT) filed an action for judicial protection. The presentation, signed by the leadership triumvirate made up of Octavio Argüello, Jorge Solá and Cristían Jerónimo, was drawn to the Federal Administrative Court No. 7, in charge of Judge Enrique Lavié Pico.

The amparo does not attack the entire reform. In a strategic move, the labor federation concentrated its first proposal exclusively on articles 90 and 91 of the law, which regulate the transfer of the national labor jurisdiction to the orbit of the Autonomous City of Buenos Aires (CABA). The CGT requested a precautionary measure of "not innovating" that immediately suspends the operation of these articles.

According to the argument of the labor federation, the transfer of labor jurisdiction to the City violates current constitutional requirements for this type of transfer – a warning that had even been made public by Vice President Victoria Villarruel during the parliamentary debate. In addition, the transfer agreement was enabled by Decree 95/2026, which authorized the Chief of Cabinet Manuel Adorni to sign it without the intervention of the Bicameral Commission.

For the CGT, the operational background is also critical: the closure of 30 courts of first instance and Chamber VII of the National Chamber of Labor Appeals (CNAT) would affect thousands of cases in process and would generate uncertainty about the labor and pension situation of employees and judicial officials.

 

The first amparo is not the only front. The CGT has already announced that it will present a second precautionary measure in the labor jurisdiction and will promote individual actions by different unions. The choice of the contentious jurisdiction for the first amparo – instead of the labor one – responds to a strategic calculation: the legal team of the CGT, advised by constitutionalists such as Alberto García Lema, issues that the national labor courts can act with caution in the face of the prospect of being under the Buenos Aires orbit.

The CGT maintains that the reform violates Article 14 bis of the National Constitution in its fundamental rights: protection against arbitrary dismissal, the right to strike, collective bargaining, freedom of association and social security. The union also invokes the principle of progressivity and the principle of protection of labor law, supported by the Pact of San José de Costa Rica.

The closest precedent dates from the end of 2023, when labor judge Liliana Rodríguez Fernández declared the invalidity of six articles of DNU 70/2023. However, there is a substantial difference: in that case it was a decree of necessity and urgency; now it is a law sanctioned by Congress, which gives it greater institutional weight and complicates the judicial scenario for challengers.

 

Far from being surprised, the Executive was waiting for the judicial reaction. Weeks before the enactment, the Casa Rosada already had outlined a legal team to defend the law in court. The new Attorney General of the National Treasury, Sebastián Amerio – appointed on the same day of the enactment – will be in charge of representing the State in the cases.

The government plans to appeal in all possible instances and even anticipates that the dispute will reach the Supreme Court in the medium term. The new Minister of Justice, Juan Bautista Mahiques, remarked that the labor reform is "an issue of special priority for the President" and that the legal process will be defended with full institutional convocation.

Balcarce 50 argues that the CGT would not have active legitimacy to question institutional aspects of the redesign of the labor judicial system, and that the precedents of the Supreme Court endorse previous reorganizations of the labor jurisdiction in CABA. In addition, they point out that, unlike DNU 70/2023, the new rule enjoys the support of the parliamentary vote.

 

The reactions were not limited to the union level. The Association of Magistrates and Officials of the National Justice (AMFJN) expressed formal objections about the way in which the law was treated in Congress, especially with respect to the transfer of jurisdiction. From the government of Jorge Macri in the City, on the other hand, they expressed their intention that the transition of the labor jurisdiction be carried out in an orderly manner.

On the academic level, labor lawyer Lucas Battiston summarized the paradox of the law: the so-called Labor Modernization Law tries to regulate the work of the 21st century with conceptual categories typical of the 20th century. For specialists in the technology sector, such as SkyOnline CEO Rafael Ibáñez, the integration of artificial intelligence into the workplace will require more ambitious regulatory frameworks than those now enacted.

 

📋 KEYS TO THE CONFLICT

🏛️ THE GOVERNMENT SAYS... ▸ Reform modernizes and deregulates the market ▸ Reduces chronic labor litigation ▸ Stimulates investment and formal employment ▸ It is a law of Congress: it has full support

🚨 THE CGT MAINTAINS... ▸ It violates Article 14 bis of the Constitution ▸ Historical labor rights are rolled back ▸ The transfer of the jurisdiction is unconstitutional ▸ The case will end up in the Supreme Court

 

"The dispute does not end in the Official Gazette. It is just beginning in the courts. The battle for the future of Argentine work will be fought, once again, in the corridors of the Courts."

— Special wording • March 7, 2026

⚖️ LAW 27.802 — ARGENTINE LABOR REFORM • Decree 137/2026 • Sources: Infobae, La Nación, Scope, Profile, Conclusion

⚖ CABINET CHANGE • MARCH 5, 2026 • DECREE 133/2026

Mahiques asume Justicia:

Karina's man conquers the courts

Juan Bautista Mahiques, attorney general of the City, replaces Cúneo Libarona with an urgent agenda: to unblock more than 200 paralyzed judicial documents, the two vacancies in the Supreme Court and the expansion of the accusatory system. Her appointment consolidates the power of the Secretary General of the Presidency over the portfolio and resigns ground to Santiago Caputo.

⏱ Reading Time: 7–9 minutes     |     ✍ Writing: Politics and Justice     |     🗞 Sources: La Nación · Infobae · Profile · Scope · Chronicler

 

 

📋 209 pending lists in the Senate

⚖ 2 Supreme Court Vacancies

🏛 40% of the Federal Justice with vacancies

📅 45 Years of the new minister

 

The resignation of Mariano Cúneo Libarona was not a surprise. The former minister had submitted his resignation on October 23, 2025, but Karina Milei asked him to remain in office until she herself chose his successor. The deadline he set: March 2026, once the extraordinary sessions of Congress have concluded. During those months, rumors about possible replacements multiplied, with names ranging from Buenos Aires Senator Guillermo Montenegro — favorite candidate of advisor Santiago Caputo — to Mahiques himself.

 

The outcome took place on March 4: a meeting at the Quinta de Olivos that included Cúneo Libarona, Karina Milei and, at the last minute, the chief of staff Manuel Adorni, defined the terms of the transition. Milei announced the change on his social networks that same day. At noon on March 5, Mahiques was sworn in before the President in the White Room of the Casa Rosada, in a ceremony that for him had a historic character: it was the first time he had met face to face with Javier Milei.

 

— Source from Karina Milei's entourage (Infobae, 4/3/2026)

Born in the Buenos Aires district of Mercedes 45 years ago, Juan Bautista Mahiques is part of what is known in the judicial corridors as a "family of courts." His father, Carlos Mahiques, is a chambermaid of Chamber I of the Federal Court of Criminal Cassation; his brother Ignacio serves as a Buenos Aires prosecutor and was deputy in the Vialidad case against Cristina Kirchner; his brother Esteban is general director of Institutional Relations of the Foreign Ministry and was a member of the Disciplinary Tribunal of the AFA.

 

The new minister is a lawyer graduated from the UBA and has a master's degree in Administration of Justice from the Unitelma Sapienza in Rome. He got his first job in the Judiciary when he was just 20 years old. Since 2019 he has held the head of the Public Prosecutor's Office of the City of Buenos Aires – head of all Buenos Aires prosecutors – a position he reached with the impetus of Daniel Angelici, Macrista operator and former president of Boca Juniors. At the same time, he has chaired the International Association of Prosecutors (IAP) since 2022, a position for which he was re-elected in April 2025, and since 2024 he has been rector of the University Institute of Security of the City.

 

His link with power has multiple layers: during the government of Mauricio Macri he was representative of the Executive Branch before the Council of the Magistracy and Undersecretary of Penitentiary Affairs and Relations with the Judiciary, two positions from which he exercised direct influence on the appointment of national and federal judges. The contact with the Milei universe began just four months before his appointment, mediated by cousins Eduardo "Lule" Menem and Martín Menem, along with Santiago Viola. Karina Milei studied it, evaluated it and concluded that it met the conditions she was looking for.

 

The appointment of Mahiques was not only a technical change: it was the expression of a power struggle within the libertarian government. Santiago Caputo — the president's star adviser, known in journalistic circles as "the Kremlin's magician" — had been controlling the Justice portfolio through Sebastián Amerio, the outgoing secretary who responded to his agenda. With the arrival of Mahiques and, above all, with the installation of Santiago Viola as secretary, Caputo loses a key link: the man who operated in the Council of the Magistracy and monitored sensitive cases such as those linked to the $LIBRA case and the ANDIS scandal.

 

In the sector close to Caputo, they interpret the movement as a defeat against the Secretary General of the Presidency. Amerio himself learned of the change in the middle of a meeting in the Council of the Magistracy and had to leave before concluding it. According to reports, until the last moment he resisted the order to leave his office. Mahiques' gestures in his first public message – explicitly thanking Karina Milei for "her permanent support" and "the dedication with which she leads the government's political team" – was read in all sectors as an unequivocal declaration of alignment.

 

— John Baptist Mahiques in his first message as appointed minister (X, 3/4/2026)

If there is one piece of information that defines the magnitude of the challenge that Mahiques inherits, it is this: the Executive Branch has in its possession the lists of 209 judges from shortlists that have already been sent to it by the Council of the Magistracy, and none were sent to the Senate. The paralysis in judicial appointments caused approximately 40% of the positions in the federal and national justice system to operate with subrogations or interim positions, a situation that the Supreme Court magistrates themselves describe as critical.

 

The strategy that Mahiques has outlined is pragmatic: start with the simplest lists to negotiate – the family privileges and those without political tension – and gradually move towards those of greater complexity. "The priority is to comply with the coverage of vacancies so that Justice begins to function. We'll start with what's easiest to negotiate. There are other courts that have a more sophisticated thread," said an unobjectionable source familiar with his plans.

 

As for the Supreme Court, the picture is different. The government's attempt to incorporate Ariel Lijo and Manuel García-Mansilla failed miserably: Lijo's list was rejected and García-Mansilla, who took office by presidential decree, ended up resigning after the Senate's adverse vote. This time, the Casa Rosada opts for caution: vacancies on the highest court will not be an immediate priority. "If the Court did not make any counterproductive measures against us, why wear down the negotiation when we can move forward in the thick of it?" they reason in the official environment.

 

Mahiques' second major priority is to extend the Federal Criminal Procedure Code – the so-called accusatory system – to the rest of the country. The model already works in Salta, Jujuy, Santa Fe, Mar del Plata and Mendoza, among other districts. On November 11, 2026, Comodoro Py, the federal jurisdiction of the City of Buenos Aires, headquarters of the most politically sensitive judicial cases in the country, is scheduled to join. Implementation requires judges, prosecutors and defenders appointed in a timely manner – which makes the plan of indictments and that of the accusatory system two sides of the same coin.

 

On his last day at the head of the Buenos Aires Public Prosecutor's Office, Mahiques signed the creation of seven new prosecutors' offices to investigate complex crimes, raising the number of prosecutors' offices of first instance from 40 to 46. The decision – specifically aimed at urban drug crime and the crimes of corruption of Buenos Aires officials – can be read as a letter of introduction to the management style that he intends to take to the national level.

 

No profile of Mahiques can avoid the episode that marked his career in 2022: the trip to Lago Escondido, the Patagonian ranch of British tycoon Joe Lewis, where Mahiques himself, his father Judge Carlos Mahiques, Federal Judge Julián Ercolini, the then Buenos Aires Minister of Security Marcelo D'Alessandro, attended – with all expenses paid –  directors of the Clarín Group and a former SIDE agent, among others.

 

The leak of chats from the Telegram group in which some of the attendees participated set off public alarm. According to the transcripts, it was Mahiques himself who would have proposed to manage an invoice to cover up the financing of the trip: "We could find out the issue of a little bill. I don't think it's necessary...", he was heard saying in an audio. The judicial investigation resulted in complaints of alleged gifts and breach of duties of a public official. In December 2023, the Federal Court of Bariloche dismissed all those involved on the grounds that there was no configured crime.

 

The episode did not stop his career, but he remains an obligatory reference for the political opposition and human rights organizations that question his independence. Cristina Kirchner linked him at the time to judicial pressure against her during Macri's administration, an accusation that Mahiques always rejected.

 

Rarely in recent history has the identity of the Minister of Justice had such immediate relevance. The government faces several simultaneous judicial fronts: the $LIBRA case – which investigates the cryptocurrency scandal linked to Milei – the ANDIS case, and the constant pressure of the cases inherited from previous administrations. Mahiques comes to office with the explicit mandate of being "the eyes of the Government in Courts", a function that goes far beyond the bureaucratic administration of a portfolio.

 

In addition, the year 2027 brings presidential elections, and the battle for the federal courts – which in the words of the libertarian environment itself are "those who decide whether one goes to prison or not" – acquires a strategic dimension that transcends the institutional. The arrival of Viola as Secretary of Justice, with his ties in the Senate and in the arc of traditional politics, seeks to oil precisely that legislative mechanism that determines who occupies each judicial office in the country.

 

 

🏛 FINAL ANALYSIS

The arrival of Mahiques to the Ministry of Justice is much more than a change of names. It is the clearest sign so far that Karina Milei not only does not retreat in her advance on the architecture of government power, but accelerates. With one man of its own in the chair of Justice and another in the secretariat, the "Karinist" wing of the government now controls the lever that moves 200 judges and prosecutors, access to the Council of the Magistracy and the pulse of the most incandescent judicial cases in the country. The question that no one in the Courts ends up answering is whether Mahiques will achieve what his predecessor could not: transform the accumulated lists into real appointments, before the 2027 electoral calendar turns everything into a bargaining chip.

 

📅 KEY TIMELINE

• 10/23/2025 — Cúneo Libarona presents formal resignation; Karina Milei asks him to stay until March.

• Dec. 2025 / Jan. 2026 — First contacts reserved between Mahiques and Karina Milei; nexus: cousins Menem and Santiago Viola.

• 04/03/2026 — Meeting in Olivos; Milei announces the change in X. Amerio finds out in the middle of a session of the Council of the Magistracy.

• 05/03/2026 — Decree 133/2026 in the Official Gazette. Mahiques is sworn in at noon in the White Room. Viola takes over as secretary.

• Next steps — Negotiation of lists with the Senate; expansion of the accusatory system; decision on vacancies in the Court.

 

📚 SOURCES

• La Nación — "Juan Bautista Mahiques is the new Minister of Justice", 4/3/2026

• Infobae — "Who is Juan Bautista Mahiques, the new Minister of Justice", 4/3/2026

• Infobae — "The background of Mahiques' arrival in government", 4/3/2026

• Profile — "Official Gazette: Mahiques was confirmed as Minister of Justice", 5/3/2026

• Profile — "His links with Mauricio Macri, Chiqui Tapia and Pablo Toviggino", 4/3/2026

• Scope — "Milei confirmed Mahiques as new Minister of Justice", 4/3/2026

• El Cronista — "Mahiques disembarks in Justice and prepares his action plan", 4/3/2026

• El Destape Web — "Judicial Family, Macrism and the Lago Escondido Plot", 4/3/2026

• elDiarioAR — "Juan Bautista Mahiques will be the new Minister of Justice", 4/3/2026

 

🌍 SPECIAL WAR REPORT ISRAEL AND THE UNITED STATES VS. IRAN The conflict that is redrawing the map of power in the Middle East ⏱ Reading Time: 6 minutes |   📅 March 3, 2026 |   📍 Middle East

 

☠️ 787+ Muertos in Iran

UDDE8 6 casualties U.S. Soldiers

🛢️ +45% Oil Price

🌎 14+ Countries on alert

 

In the early hours of February 28, 2026, air raid alarms broke Tehran's silence. What for years was a war of shadows, proxies and veiled threats, transformed in a matter of hours into the most serious armed conflict that the Middle East has experienced in decades. Israel and the United States launched a coordinated offensive on Iran, leaving the world holding its breath in the face of an unprecedented escalation.

Four days later, the toll is devastating: more than 787 Iranian dead, Supreme Leader Ali Khamenei confirmed dead, the Strait of Hormuz practically closed and energy prices soaring by 45%. The world is watching with concern whether this conflict will be confined to Iran or will trigger a regional war of greater proportions.

 

🕐	BACKGROUND: THE ROAD TO WAR

 

The current conflict was not born out of nowhere. Its roots can be traced back to decades of geopolitical tension, but it was the events of 2025 that precipitated the definitive rupture.

🔹 The Twelve-Day War (June 2025): The first direct confrontation between Israel and Iran left Iranian nuclear facilities partially destroyed, but did not resolve the underlying issue: Tehran's nuclear program.

 

🔹 The Iranian protests of 2025–2026: The economic collapse and the fall of the rial triggered protests in more than 100 cities. The regime's brutal repression, with some 6,488 dead, consolidated international pressure on Tehran.

 

🔹 Diplomatic ultimatum (February 2026): Washington sent a series of messages to Tehran demanding the total dismantling of its nuclear program. Iran rejected the demands. The U.S. reinforced its naval presence in the region with additional aircraft carriers and anti-missile systems.

 

"The great wave of our attacks on Iran is yet to come. We're going to guarantee the flow of oil and gas, no matter what." — Donald Trump, President of the United States

 

💥	THE ATTACK: FEBRUARY 28 – MARCH 1

 

The operation was meticulously planned. Israeli fighter jets and U.S. B-2 Spirit bombers simultaneously attacked more than 80 targets on Iranian territory.

🎯 Targets hit:

 

• Nuclear facilities at Natanz, Fordow and Isfahan

• IRGC ballistic missile bases

• Naval installations in the Persian Gulf

• Military communications infrastructure in Tehran

 

☠️ CONFIRMED: KHAMENEI'S DEATH The body of Supreme Leader Ali Khamenei was found in the rubble of the IRGC's command complex in Tehran on March 1. Trump and Netanyahu anticipated his death hours before the official confirmation. A council of three people temporarily assumed power: President Masoud Pezeshkian, judicial chief Gholamhossein Mohseni Ejei and cleric Alireza Arafi.

 

🌐	EXPANSION OF THE CONFLICT

 

The conflict soon spilled over Iranian borders. In the first 96 hours, the war spread to multiple fronts:

 

🗡️ Lebanese Front Israel launched simultaneous attacks on Beirut, targeting Hezbollah infrastructure and Iranian weapons depots.		💣 Drones over Riyadh Iran struck the U.S. embassy in Saudi Arabia with drones, forcing Washington to issue an evacuation notice for citizens in 14 countries.
⛽ Global energy crisis QatarEnergy suspended production. Gas prices in Europe rose by 45%. Traffic through the Strait of Hormuz came to an almost complete standstill.		🇨🇳 International response France deployed the aircraft carrier Charles de Gaulle. The United Kingdom sent a warship to Cyprus. The UN convened an emergency session.

 

🇳🇰	IRAN'S RESPONSE

 

Despite the decapitation of its supreme leadership, the Iranian military apparatus demonstrated significant responsiveness. The Iranian Armed Forces and the IRGC launched counter-offensives in multiple directions:

 

"Iran is ready to wage a lasting war. We have the capacity to resist longer than the enemy anticipated. We have not yet deployed our most sophisticated weaponry." — Iranian Defense Ministry spokesperson, March 3, 2026

 

🔸 Kuwait: Attack on U.S. troops resulted in six soldiers killed.

 

🔸 Riyadh: Iranian drones attacked the US embassy in Saudi Arabia.

 

🔸 Strait of Hormuz: The Iranian navy effectively blocked the passage of oil tankers.

 

🔸 UN and war crimes: The attack on a primary school in Minab (165 children killed) is being investigated by the United Nations as a possible war crime.

 

📅	CHRONOLOGY OF THE CONFLICT

 

⚔️ Jun 2025	Twelve Day War First direct Israel-Iran confrontation. Iranian nuclear facilities partially destroyed. The conflict ends without a definitive resolution.
🗣️ Oct–Nov 2025	Mass protests in Iran More than 100 cities are rising up due to the economic collapse. The regime violently represses: ~6,488 dead. International pressure intensifies.
📄 Jan–Feb 2026	Diplomatic ultimatum The U.S. demands nuclear dismantlement. Iran rejects. Washington reinforces naval presence with aircraft carriers and Patriot systems in the region.
💥 28 Feb 2026	Initiation of attacks Joint Israel-US operation More than 80 military targets attacked. 555 confirmed dead in the first hours, including a primary school in Minab.
☠️ 1 Mar 2026	Khamenei's death The body of the supreme leader found in the rubble of the IRGC. Trump and Netanyahu announce it before official confirmation. Tripartite Council assumes power.
💣 2 Mar 2026	Attack on Riyadh Iran launches drones at the US embassy in Saudi Arabia. Washington issues evacuation advisories in 14 countries. Six U.S. soldiers killed in Kuwait.
⛽ 3 Mar 2026	Global energy crisis QatarEnergy suspends production. European gas up 45%. Strait of Hormuz paralyzed. Trump promises to escort oil tankers with the navy. Total deaths: 787+ in Iran.

 

🇺🇸	TRUMP'S WAR AIMS

 

In an address to the nation, Trump articulated five concrete military objectives:

1️⃣	Completely destroy Iran's ballistic missile capabilities
2️⃣	Annihilate the Iranian navy and its ability to blockade the Strait of Hormuz
3️⃣	Eliminating Tehran's nuclear ambitions once and for all
4️⃣	Cut off funding and arming proxy groups (Hezbollah, Hamas, Houthis)
5️⃣	Ensuring the international flow of oil and gas via naval escort

 

🔭	PROSPECTS AND POSSIBLE SCENARIOS

 

Geopolitical analysts contemplate three possible scenarios for the coming weeks:

✅ OPTIMISTIC SCENARIO The new Iranian leadership negotiates a ceasefire in 2–3 weeks. Nuclear agreement signed under international supervision. End of the blockade of Hormuz.

⚠️ MODERATE SCENARIO The conflict lasts 1–3 months. Iran falls into internal instability. Global energy shortages cause recession. Negotiations mediated by Qatar.

🔴 PESIMISTIC SCENARIO Hezbollah and Houthis are opening additional fronts. Russia and China intervene diplomatically. Global oil crisis. Risk of NATO-proxy confrontation.

 

📋 Report prepared with information from Reuters, AP, BBC, Al Jazeera and official sources |  Last updated: March 3, 2026, 5:00 p.m. GMT

URGENT • WAR • MIDDLE EAST • DEVELOPING NEWS — UPDATED: 1 MARCH 2026

 

  🔴 DEVELOPING NEWS — SUNDAY, MARCH 1, 2026 🔴 

 

CONFIRMED: KHAMENEI DIED

Iran launches its "fiercest offensive in history"; explosions in Dubai, Doha, Kuwait, Riyadh and Tel Aviv

118 girls killed in Minab • 7 Iranian generals killed • Burj Al Arab in flames • Trump: "Bombs will fall everywhere"

 

🗓️ Sunday, March 1, 2026   |   🕐 Last update: 10:13 am (Argentina time)   |   ⏱️ Reading Time: 7 minutes   |   ✍️ International Editorial Team

🔴 ALERT: Iranian Supreme Leader Ali Khamenei was confirmed dead by Iranian state television on Sunday. Trump and Netanyahu also confirmed this. The Revolutionary Guards promised the "fiercest offensive in history." Attacks continue on Iran, Israel and the Persian Gulf.

 

The conflict between the United States, Israel and Iran entered a new and more dangerous phase on Sunday, March 1. Iranian state television confirmed the death of Ayatollah Ali Khamenei, the Islamic Republic's supreme leader for 35 years, a victim of Saturday's bombardment of Tehran. With the fall of one of the most influential figures in contemporary political Islam, Iran vowed its most devastating revenge yet, as Israel and the U.S. launched a second wave of attacks and the fire spread to Dubai, Kuwait, Qatar, Saudi Arabia and Bahrain. The world is holding its breath in the face of the greatest armed conflict of the twenty-first century.

💀 Confirmed: Ayatollah Ali Khamenei died

Iranian public television broke its usual programming on Sunday to officially announce the death of Supreme Leader Ali Khamenei, 86, a victim of the US and Israeli bombings launched on Saturday on his compound in the heart of Tehran. The news was confirmed almost simultaneously by President Donald Trump on his Truth Social network — where he described Khamenei as "one of the most evil people in history" — and by Israeli Prime Minister Benjamin Netanyahu at a press conference. According to Israeli sources cited by Reuters and CNN, Israel even obtained a photograph of the ayatollah's body.

In the streets of Tehran and other Iranian cities, tens of thousands of people came out to mourn the death of the supreme leader, while in other neighborhoods — according to CNN correspondents in the area — celebratory chants could be heard from the regime's internal opposition. Iranian President Masoud Pezeshkian was confirmed as "safe and sound" by state television, although he did not make any public statements about it. The unknowns about who will lead Iran in the coming days generate deep geopolitical uncertainty at the global level.

 

⚠️ Key fact: Khamenei's death activates an unprecedented power vacuum in the Islamic Republic. The Iranian constitution provides for the Council of Experts to appoint a new supreme leader, but this body may not be in a position to meet in a context of active war.

 

⚔️ Second wave: new bombardments of central and western Iran

On Sunday, joint U.S.-Israeli forces launched a second battery of strikes against Iran, concentrated at key points in the west and center of the country, with missiles that again reached the heart of Tehran. The Israeli military released images of the destruction of what it described as "the headquarters of the Iranian terrorist regime" in the capital. According to an IDF statement, the operation eliminated 40 of the main leaders of the Iranian military leadership, including Defense Minister Aziz Nasirzadeh and Revolutionary Guard commander Mohamed Pakpur, although Tehran did not confirm these figures.

Trump, in a new communication through Truth Social, warned the Iranian people that "bombs will fall everywhere" and reiterated his call to take control of their government. The president also responded to a question from ABC News about who would lead Iran after the regime, noting that the U.S. has "a very good idea" about it. The Pentagon reaffirmed that Operation Epic Fury will run at least throughout the week.

 

📊 The conflict in figures (March 1, update 10:00 a.m.) • +200 dead and 750 wounded in Iran (Red Crescent) — rising • 118 girls killed at Minab school (updated Iranian state media data) • 7 senior Iranian military commanders confirmed killed by IDF • 40 Iranian military leaders eliminated according to Israel • At least 121 wounded in Israel; 1 woman killed in Tel Aviv • 14 Iranian drones hit the UAE despite the interception of 195 • 1 person killed in Abu Dhabi by intercepted missile debris • Dubai Airport with "minor damage" and 4 injuries • Kuwait International Airport Attacked by Drone

 

🚀 "The fiercest offensive in history": the threat of the Revolutionary Guards

Following the confirmation of Khamenei's death, Iran's Islamic Revolutionary Guard Corps (IRGC) issued a statement of the utmost gravity: "The fiercest offensive operation in the history of the armed forces of the Islamic Republic of Iran will begin at any time." The body called the assassination of the supreme leader "a sign of open war against all Muslims in the world" and promised a "harsh and decisive" punishment. The speaker of Iran's parliament reinforced the message by saying that revenge is "a legitimate right" that will reach both Americans and Israelis.

Meanwhile, the sixth wave of Iranian missiles and drones confirmed on Saturday night was followed by new launches on Sunday. CNN crews in the area heard multiple explosions in Dubai, the financial capital of the United Arab Emirates, and saw plumes of smoke rising over the port of Jebel Ali, one of the world's largest. In Israel, alarms were set off in the centre and south of the country. The IRGC confirmed that its target is U.S. military bases in neighboring countries, clarifying that it does not seek to attack those nations per se: "Those bases are not the territory of those countries, they are the territory of the United States."

🌐 Fire Spreads: Dubai, Kuwait, Qatar and Saudi Arabia Under Attack

Sunday's Iranian escalation extended the war to multiple Gulf countries. In Dubai, one of the icons of modern global capitalism, the remains of an intercepted drone caused a fire on the exterior façade of the Burj Al Arab hotel, one of the most famous structures in the world. The Emirati authorities clarified that there were no injuries in that incident, although the UAE already reports a fatality in Abu Dhabi due to falling debris from an intercepted missile. The Emirati Ministry of Defence indicated that, although it intercepted 195 drones, 14 managed to hit its territory. Minister of State for International Cooperation Reem al-Hashimy warned CNN that the UAE is "prepared" to take a more combative role if Iranian attacks continue.

Dubai's airport — one of the world's busiest — reported minor damage to one area of its terminal and four injuries, and advised passengers not to go to its facilities. Kuwait's airport was attacked with a drone that caused damage to Terminal 1 and minor injuries among workers. Qatar activated a national emergency alert. An Iranian missile hit a US base in Bahrain. Jordan reported shooting down 13 missiles and 36 drones in its airspace on Saturday. Iraq reported two deaths of the Popular Mobilization Forces from bombings southwest of Baghdad.

 

🔥 Countries with confirmed impacts from Iranian missiles or drones 🇮🇱 Israel — Sixth wave confirmed; 1 killed in Tel Aviv, 121 injured 🇦🇪 United Arab Emirates — 14 drones hit; fire in Burj Al Arab; 1 dead 🇶🇦 Qatar — National Emergency Alert; explosions in Doha 🇧🇭 Bahrain — Missile hits U.S. naval base (Fifth Fleet) 🇰🇼 Kuwait — Drone Hit International Airport (Terminal 1) 🇸🇦 Saudi Arabia — Explosions reported; U.S. bases under threat 🇮🇶 Iraq — 2 killed by the Popular Mobilization Forces 🇯🇴 Jordan — 13 missiles and 36 drones shot down over its territory

 

🌍 The world facing the abyss: condemnations, alarms and divided positions

The international community reacted quickly and in different directions. The European Union called Khamenei's death "a watershed moment in Iran's history," with European diplomacy chief Kaja Kallas noting that "there is an open path to a different Iran." Russia urgently convened its Security Council and called the U.S.-Israeli attacks "a planned and unprovoked act of aggression" against a sovereign state, demanding a return to diplomacy. China joined the condemnation.

The leader of the Spanish opposition and president of the Popular Party, Alberto Núñez Feijóo, called on the West to be "united" to achieve "containment, avoid an escalation and return to negotiation". In the US, former House Speaker Nancy Pelosi and Senator Tim Kaine denounced that Trump acted unconstitutionally by not seeking authorization from Congress. The FBI raised the national anti-terrorism alert level and the Department of Homeland Security urged U.S. citizens abroad to "exercise extreme caution." The IAEA canceled technical discussions it had planned with Iran for Monday.

 

💬 Key positions of international actors 🇺🇳 UN — Guterres demands immediate cessation; Security Council in emergency session 🇷🇺 Russia — Strong condemnation; convenes its own Security Council; supports Iran 🇨🇳 China — Condemns attacks and calls for dialogue 🇪🇺 EU — Kallas: "A decisive moment" for Iran to change course 🇹🇷 Turkey — Closes its airspace to strike operations 🇸🇦 Saudi Arabia — List for "all necessary measures" with Gulf countries 🇦🇪 UAE — It could take on a "more combative" role if Iranian attacks continue 🇺🇸 U.S. Congress (opposition) — Unconstitutionality of Trump's attacks denounced

 

📈 Global economy on alert: oil at $110 and Hormuz in the crosshairs

Global markets operate in a state of maximum tension. The price of a barrel of Brent crude oil exceeded 110 dollars due to fears of a possible blockage of the Strait of Hormuz, through which 20% of the world's oil flows. The U.S. government urged commercial vessels to move away from the Persian Gulf, the Gulf of Oman, the Arabian Sea and the waters of the strait. Air France, Lufthansa, Turkish Airlines, SWISS and Air India, among other airlines, suspended their flights to Tel Aviv, Beirut, Dubai and Riyadh, with the consequent paralysis of tourism and trade throughout the region. Iran ordered the closure of all its universities until further notice.

 

📌 Why did we get here? The road to war

The attack did not come out of nowhere. Since the end of December 2025, Iran has been experiencing mass protests against the regime — the largest since the 1979 revolution — driven by the economic crisis and the collapse of the rial. The Iranian government responded with violent repression; The number of protesters killed is estimated at more than 6,400. Trump had warned of consequences if the regime attacked the protesters.

On February 27 — one day before the attack — the U.S.-Iran nuclear negotiations brokered by Oman collapsed in Geneva. Washington demanded the dismantling of the nuclear sites of Fordow, Isfahan and Natanz and the export of all enriched uranium. Iran refused to negotiate its missile program. Trump declared Friday that Iran was "not willing to give us what we need." The IAEA had confirmed that Iran possessed uranium enriched to 60%, a few steps away from the capacity to make a nuclear bomb. That same day, Secretary of State Marco Rubio placed Iran on a new blacklist for illegal detention of U.S. citizens.

Unlike the limited strikes of June 2025, in which the US bombed three Iranian nuclear facilities for just twelve days, Operation Epic Fury was planned for weeks of sustained operations and has as its stated goal – in Trump's and Netanyahu's own words – regime change in Tehran.

 

 

🔎 What to watch in the next few hours • Who will assume the leadership of Iran? Council of Experts to appoint Khamenei's successor • Magnitude of the promised "fiercest offensive" of the Revolutionary Guards • Strait of Hormuz status: blockade or remain open to maritime traffic? • Third wave of Israeli and US attacks on Iran (expected this afternoon/evening) • UN Security Council session: Russia or China veto of peace resolution? • Final toll of casualties in Iran, Israel and the Gulf countries • Saudi Arabia's position: is it militarily involved? • U.S. constitutional debate over congressional authorization for acts of war • Reaction of pro-Iranian movements: Hezbollah, Hamas, Yemeni Houthis

 

🕐 Timeline of the conflict (28 Feb – 1 Mar 2026) Sat 2/28 — Breaking Dawn: U.S. and Israel Launch Operation Epic Fury on Iran Sat 2/28 — ~08:00: Trump confirms the operation on video from Mar-a-Lago Sat 2/28 — ~09:00: Netanyahu declares state of emergency in Israel Sat 2/28 — ~10:00: Iran launches first wave of missiles and drones against Israel Sat 2/28 — ~12:00: Explosions at U.S. bases in Qatar, Bahrain, Kuwait and UAE Sat 2/28 — ~15:00: Netanyahu: "strong indications" of Khamenei's death Sat 2/28 — ~5:00 p.m.: Iranian Foreign Minister Denies Khamenei's Death (NBC News) Sat 2/28 — ~19:00: Red Crescent confirms 201 dead and 747 wounded in Iran Sat 2/28 — ~9:00 p.m.: Sixth wave of Iranian missiles confirmed; alarms in Tel Aviv Sat 2/28 — ~23:00: Iranian drone hits Dubai airport area Sun 01/03 — ~06:00: Iran launches new wave of attacks; smoke over Dubai Harbour Sun 01/03 — ~08:00: Iranian state TV officially confirms Khamenei's death Sun 01/03 — ~09:00: Trump confirms Khamenei's death on Truth Social Sun 01/03 — ~06:00: IRGC vows "the fiercest offensive in history" Sun 01/03 — ~07:00: Fire in Burj Al Arab due to intercepted drone wreckage Sun 01/03 — ~09:00: Israel and the US launch second wave of bombing raids on Iran Sun 01/03 — 10:13: Last update of this note

 

⚠️ DEVELOPING NOTE — Updated as conflict progresses

⏱️ Reading time: 7 minutes • 🗓️ 01/03/2026 — 10:13 am • International Newsroom

URGENT • ARMED CONFLICT • MIDDLE EAST • DEVELOPING NEWS

 

  🔴 NEWS IN DEVELOPMENT — UPDATE 17:55 p.m. 🔴 

 

"OPERATION EPIC FURY":

U.S. and Israel Strike Iran in Largest Joint Operation in Its History

Khamenei's whereabouts unknown — 201 killed in Iran — Missiles over Israel, Qatar, UAE, Bahrain and Kuwait

 

🗓️ Saturday, February 28, 2026   |   🕐 Last updated: 17.55:50 p.m. (Argentine time)   |   ⏱️ Reading Time: 6 minutes   |   ✍️ International Editorial Team

🔴 ALERT: This note is updated in real time. Casualty data, military positions, and confirmations from senior commanders may vary. The death of Iranian Supreme Leader Ali Khamenei has not been officially confirmed. Iran denies his death.

 

The Middle East woke up to war. In the early hours of Saturday, February 28, 2026, the United States and Israel launched the most devastating coordinated attack in their joint history against Iran: the so-called "Operation Epic Fury" — called "Lion's Roar" by Israeli forces — hit more than 500 military, nuclear, and intelligence targets across six Iranian cities with hundreds of aircraft. Iran responded with an unprecedented counterattack: successive waves of missiles and drones hit Israel and U.S. bases in Qatar, Bahrain, Kuwait and the United Arab Emirates. At press time, the situation remains in a state of maximum escalation and the fate of Iranian Supreme Leader Ali Khamenei is the subject of intense international speculation.

⚔️ "Operation Epic Fury" and "Lion's Roar": anatomy of the attack

At dawn on Saturday, Israeli fighter jets — F-35, F-15, F-16 and F-22, accompanied by electronic warfare aircraft and radar planes — crossed the region's airspace and unleashed what Netanyahu himself called "the largest offensive in the history of the State of Israel." According to the Israeli Defense Ministry statement, more than 200 fighter jets were involved in the strikes and approximately 500 targets were hit, including air defense systems, missile launchers, nuclear program facilities and intelligence centers.

The targets hit included Supreme Leader Ali Khamenei's residential and working complex in the heart of Tehran, the Supreme National Security Council, the Iranian Ministry of Intelligence and various Islamic Revolutionary Guard Corps (IRGC) facilities. The affected cities were Tehran, Isfahan, Qom, Tabriz, Karaj and Kermanshah, according to media from both countries and international news agencies.

President Donald Trump confirmed the U.S. involvement through a video posted on social media, monitoring the operation from his residence in Mar-a-Lago, Florida. He said the campaign is aimed at destroying Iran's nuclear and missile capabilities, adding that Tehran had continued to develop missiles capable of reaching the U.S. mainland. He also urged the Iranian people to "take control of their government." The Pentagon confirmed that no U.S. combat casualties were recorded during the initial phase of the operation.

 

📊 The operation in figures (preliminary data) • +200 Israeli fighters involved in the first wave of attacks • ~500 targets hit in six Iranian cities • Aircraft used: F-35, F-15, F-22, F-16 + electronic warfare • The operation was jointly planned for months, according to Israeli security sources • Estimated initial phase: 4 days of active operations

 

🔥 Did Khamenei die? The question that paralyzes the world

The point of greatest tension and uncertainty of the day revolves around the whereabouts and state of health of Ayatollah Ali Khamenei, supreme leader of the Islamic Republic of Iran since 1989. Israeli Prime Minister Benjamin Netanyahu told the cameras that there are "many indications" that Khamenei is no longer alive, after confirming that the joint forces destroyed "the tyrant's compound in the heart of Tehran". Israeli television channels said that both Trump and Netanyahu had seen a photograph of the ayatollah's body.

However, Iranian Foreign Minister Abbas Araghchi assured in a live interview with NBC News that the supreme leader is alive: "As far as I know, the supreme leader is alive," he said from Tehran. Iranian intelligence sources quoted by France24 indicated that Khamenei was moved to a safe place before the start of the attacks. Among the deceased confirmed by Israeli sources is Ali Shamkhani, Khamenei's key adviser and a central figure in Iran's nuclear programme, although Tehran has not corroborated this either.

Netanyahu, for his part, called on the Iranian people on Saturday to "rise up and overthrow the regime", in what analysts read as confirmation that the political objective of the operation is not only military but also regime change, in line with Trump's statements.

 

🚀 Iran's retaliation: missiles over Israel and US bases across the region

Hours after the start of the bombings, the Islamic Revolutionary Guard Corps announced the beginning of its counteroffensive: successive waves of ballistic missiles and drones targeted Israel and US military bases in several Gulf countries. By Saturday night, the Israeli army reported the sixth wave of projectiles launched from Iranian territory, with air alert sirens activating in Jerusalem, Tel Aviv, Haifa and other cities in the north and center of the country.

The targets of the Iranian retaliation included the Al Udeid base in Qatar — the largest U.S. base in the region — the Al Salem base in Kuwait, the Al Dhafra base in the United Arab Emirates, and the headquarters of the U.S. Navy's Fifth Fleet in Bahrain. Iran announced that any base in the region that "supports Israel will be targeted." Kuwait and Qatar announced that they reserve the right to respond to Iranian attacks on their territories. Jordan reported shooting down 13 ballistic missiles and 36 drones heading for its territory.

The U.S. Central Command (CENTCOM) confirmed that the damage to its bases was slight and did not disrupt operations. The FBI raised the national anti-terrorism alert level, while the Department of Homeland Security urged U.S. citizens around the world to "exercise extreme caution."

 

💀 Victims: At least 201 killed in Iran, dozens of girls in school

The Iranian Red Crescent confirmed at least 201 dead and 747 wounded as a result of the Israeli and U.S. attacks on Iranian territory, although local officials warn that the real toll could be significantly higher. Foreign Minister Abbas Araghchi denounced on social networks that one of the missiles directly hit a girls' primary school in the city of Minab, Hormozgan province, in the south of the country. Later reports raised the number of minors killed in that specific attack to 51.

The U.S. CENTCOM confirmed that there were no U.S. casualties in the initial phase. Israel has so far not reported any civilians killed by Iranian missiles on its territory, attributing the results to the effectiveness of the Iron Dome defence system, although it acknowledged that the "defence is not airtight" and called on the population to maintain the instructions of the Home Front Command.

 

🌍 International reactions: between condemnation and support

The international community reacted quickly. UN Secretary-General António Guterres has called an emergency meeting of the Security Council and demanded an immediate cessation of hostilities. Russia described the attacks as a "planned and unprovoked act of aggression" against a sovereign state and demanded a return to diplomatic channels. Vladimir Putin urgently convened his Security Council. China also condemned the bombings.

Spain and France demanded de-escalation and respect for international humanitarian law. Turkey announced that it will not allow the use of its airspace. Saudi Arabia declared itself ready for "any measure" along with the Gulf countries. The African Union condemned Iran's missile attacks on the territories of Bahrain, Qatar, the UAE, Kuwait and Saudi Arabia, calling them a "violation of sovereignty." Former House Speaker Nancy Pelosi warned that Trump's decision to initiate military hostilities "violates the Constitution" without congressional authorization. Democratic Senator Tim Kaine called it a "colossal mistake."

Trump spoke by phone with the leaders of Saudi Arabia, Qatar, the United Arab Emirates and NATO Secretary-General Mark Rutte. The president said he could withdraw "in two or three days" if the Iranians take control of his government, although his advisers confirmed that the operation will last at least four days.

 

✈️ The impact on the global economy and air transport

The price of a barrel of Brent crude oil exceeded 110 dollars in the reference markets due to fears of a blockage of the Strait of Hormuz, through which approximately 20% of the world's oil circulates. The U.S. government urged commercial vessels to avoid the Persian Gulf, the Gulf of Oman, the Arabian Sea and the waters of the Strait of Hormuz. Air France, Lufthansa and other European and Asian airlines suspended flights to Tel Aviv, Beirut, Dubai and Riyadh. Iran announced the closure of all its universities until further notice.

 

📌 Context: Why now?

The escalation did not come out of nowhere. On February 27 — just one day before the attacks — new U.S.-Iran nuclear talks, mediated by Oman, concluded in Geneva. According to later reconstructions, Washington would have demanded the dismantling of Iran's three main nuclear sites — Fordow, Isfahan and Natanz — and the export of all enriched uranium. The IAEA had confirmed that Iran possessed uranium enriched to 60%, just steps short of the threshold needed to make a nuclear weapon. The breakdown of negotiations without an agreement would have precipitated the decision to attack.

In the history of the confrontation between Trump and Iran, it should be recalled that in January 2020 the then-president ordered the assassination of Iranian General Qasem Soleimani in Baghdad. In June 2025, during twelve days of open war between Israel and Iran, the US had already bombed three Iranian nuclear facilities. "Operation Epic Fury" represents, according to analysts, a qualitative leap of enormous magnitude compared to those previous episodes.

 

 

🔎 What to watch in the next few hours • Official confirmation on the state of health of Ayatollah Ali Khamenei • Emergency meeting of the UN Security Council (convened for tonight) • Possible additional Iranian retaliation on Israel and U.S. bases in the region • Positioning of China and Russia: military support or only diplomatic support for Iran? • Oil price developments and the state of the Strait of Hormuz • Official and final toll of victims in Iran and Israel • Netanyahu's speech announced for tonight • U.S. Congressional reaction to Trump's unilateral action

 

🕐 Chronology of the day (28/02/2026) • Dawn: Israel and the US launch the first simultaneous attacks on Iran • ~08:00 a.m.: Trump confirms "Operation Epic Fury" on video • ~09:00 a.m.: Netanyahu declares a state of emergency in Israel • ~10:00 a.m.: Iran responds with the first wave of missiles towards Israel • ~12:00 p.m.: Explosions at U.S. bases in Qatar, Bahrain, Kuwait and UAE • ~3:00 p.m.: Netanyahu claims to have seen "many signs" of Khamenei's death • ~5:00 p.m.: Iranian Foreign Minister Denies Khamenei's Death in NBC Interview • ~7:00 p.m.: Jordan shoots down 13 missiles and 36 Iranian drones over its territory • ~9:00 p.m.: Israeli army warns of sixth wave of missiles from Iran • ~10:00 p.m.: Russia convenes Security Council. UN demands immediate cessation

 

⚠️ DEVELOPING NOTE — Updated with each official confirmation

⏱️ Reading time: 6 minutes • 🗓️ 28/02/2026 — 17:55 hs • International Newsroom