Kuwait has faced repeated Iranian missile and drone strikes on ports, air bases, and infrastructure since early 2026 as part of the broader US-Iran conflict, with the most recent barrages reported on October 21 targeting US-linked sites amid ceasefire violations and tanker attacks in the Strait of Hormuz. Iranian Revolutionary Guard Corps personnel were detained off Bubiyan Island in mid-October on infiltration allegations, prompting Iranian threats of response, while Kuwait has condemned the assaults at the UN and rejected any use of its territory for operations against Iran. These developments reflect Iran's preference for asymmetric strikes over direct ground operations, alongside Kuwait's geographic vulnerability near Iraq and its hosting of US forces, though no full-scale invasion has occurred. Trader assessments of an invasion by a set deadline hinge on whether escalating tit-for-tat actions or diplomatic pauses alter the pattern of limited strikes.