Iraq Says Iran Gave It Verbal Notice Before Attack: Iran Update

(Bloomberg) — Iran on Wednesday fired missiles at airbases jointly used by the U.S. and Iraq in retaliation for the killing of General Qassem Soleimani, roiling financial markets and disrupting air and tanker traffic.

Retribution had been expected for the deadly drone strike last week, but Iraq said it had received verbal notice from the Iranians prior to the strikes and there appeared to be no casualties.

President Donald Trump tweeted “All is well!” while battle damage assessments continued. He intends to make a statement later Wednesday. Airlines changed routes to avoid the conflict zone, and the U.S. Federal Aviation Authority restricted flights over the Persian Gulf.

Here is a rundown of major events in Iraqi local time since Tuesday:

Key developments:

Iran retaliates against U.S. in rocket attack on Iraqi basesCommodities move on the news, stocks pare initial losses and oil shippers raise Middle East ratesAir Canada, Malaysia Airlines joint list of operators changing routesTurkish and Russian Presidents meet in IstanbulTrump is expected to speak later Wednesday

Tanker Majors Suspend Transit Through Straits of Hormuz: DJ (1:26 p.m.)

Petrobras, Bahri, other tanker companies suspend sailing through the Straits of Hormuz, Dow Jones reported, citing unidentified people familiar with the matter. The decision comes after the Iranian strike raised concerns of a military escalation in the oil-exporting region.

Iraq Says Got Verbal Notice From Iran Prior to Its Attack (1:16 p.m.)

The iraqi Prime Minister’s office said it got verbal notice from Iran prior to its attack. Iran said it would only target U.S. positions and no causalities were reported, it said in a statement on Twitter.

The “commander in chief has continued to follow developments from the beginning of the attack until this hour and is making necessary internal and external contacts in an attempt to contain the situation and not enter into open war where Iraq and the region will be among the first victims,” it said.

Lufthansa Suspends Flying Over Iran, Iraq Airspace (11:23 a.m.)

Lufthansa has suspended flights over Iraqi and Iranian airspace in the wake of the missile strikes, a spokesman said by phone. Lufthansa also canceled a 1330 CET flight from Frankfurt to Tehran.

Iran’s Zarif Says He Has No Statistic on Attack Fatalities (11:17 a.m.)

Iranian Foreign Minister Jawad Zarif doesn’t have any statistics on fatalities in the Iranian attacks on U.S. targets in Iraq, he told reporters in comments broadcast on TV. Zarif said he’s sent a message to the Americans “immediately after the attack” but did not elaborate on its contents.

Iran Gave U.S. ‘Crushing Response,’ Supreme Leader Says (10:42 a.m.)

Iranian Supreme Leader Ayatollah Ali Khamenei said in a televised address on Wednesday that his country had given the U.S. a “crushing response” to the killing of Soleimani and called for an end to the U.S. presence in the region.

Turkey Hints Readiness for U.S.-Iran Mediation as Putin Visits (10:53 a.m.)

Turkey indicated it’s willing to mediate between the U.S. and Iran as President Recep Tayyip Erdogan prepares to meet Russian President Vladimir Putin in Istanbul to discuss escalating tensions in the Middle East and North Africa.

“Turkey is one of few countries and probably the most important one that can speak both with the U.S. and Iran,” Erdogan spokesman Ibrahim Kalin said after a cabinet meeting late Tuesday.

Turkish Foreign Minister Mevlut Cavusoglu will visit Iraq on January 9 “within the context of our intensified diplomatic efforts to alleviate the escalated tension in the aftermath of recent developments in the region,” the ministry said in a statement.

Iraq says 17 missiles hit Ayn al-Asad base (9:13 a.m.)

A Facebook account belonging to the Iraqi prime minister’s office says 22 missiles entered Iraqi airspace early Wednesday, hitting “coalition locations.” It says there were no casualties among the Iraqi forces. Earlier, U.S. officials said Iran fired 15 missiles in total.

Gold Tops $1,600 as Iranian Attacks Might Invite U.S. Action (07:58 a.m.)

Oil and gold both rose while equities fell immediately on the news that Iran launched missiles against American targets as investors looked for a safe haven. But stocks in Asia pared losses and crude came off highs after Iran assured its strike didn’t mean it was seeking war, and President Trump declared, “All is well!”