Israel's military operations in 2026 have centered on direct strikes against Iran and sustained campaigns targeting Iran-backed groups in Lebanon, Syria, and Yemen, establishing these four countries as the primary focus of activity through the year. Joint U.S.-Israeli operations beginning in late February eliminated key Iranian leadership and infrastructure, followed by exchanges that concluded with a fragile April ceasefire later reinforced by a June memorandum. Ongoing operations against Hezbollah in Lebanon and related targets in Syria, alongside responses to Houthi actions from Yemen, have continued without introducing strikes on additional sovereign states. Recent November statements from Israeli officials warning that the Iran mission remains incomplete reflect persistent tensions, yet the absence of new escalations or expansions into other territories in the final weeks of the year aligns with trader consensus favoring a total of four countries struck.