In the early hours of February 28, the United States and Israel launched a coordinated military campaign against the Iranian regime—Washington calling it “Operation Epic Fury,” Israel calling it “Operation Lion’s Roar.” Strikes hit sites across Iran, targeting ballistic missile infrastructure, IRGC facilities, intelligence headquarters, and senior regime leadership.

Supreme Leader Ali Khamenei is dead. President Trump confirmed his elimination on February 28: “Khamenei, one of the most evil people in History, is dead.” U.S. officials told Fox News that the strikes were moved up after intelligence revealed Khamenei and dozens of senior Iranian officials were meeting at his compound. Among those killed: Defense Council Secretary Ali Shamkhani, IRGC Chief Mohammad Pakpour, Defense Minister Aziz Nasirzadeh, and multiple other senior military and intelligence figures.

Iran has retaliated. A ballistic missile penetrated Israeli air defenses and struck a residential building in central Tel Aviv, killing at least one woman. Over 200 missiles and drones were fired at Israel and U.S. bases across the region—striking the U.S. Fifth Fleet headquarters in Bahrain and causing casualties in Dubai and Syria. Regional governments have condemned Iran’s strikes in the strongest terms.

Inside Iran, the response is electric. Videos show Iranians cheering in the streets. Crown Prince Reza Pahlavi has called on the armed forces to defect and urged citizens to prepare to mobilize. The opposition is deploying secure communications, satellite broadcasts, and hacked regime infrastructure to sustain the moment. The regime is decapitated. The question now is whether it falls.

To assess fast-moving developments and their strategic implications, FDD hosts a timely SITREP moderated by FDD Executive Director and host of the FDD Morning Brief Jonathan Schanzer, featuring FDD CEO and host of The Iran Breakdown Mark Dubowitz, and FDD Senior Advisor and former White House National Security Council director Richard Goldberg.