A three-week exchange of drone and missile attacks between Israel and Iran in April has significantly altered the regional strategic landscape, eroding Israel’s advantage. Despite the attacks being largely intercepted by Israel’s defense system and allies, they demonstrate Iran’s growing military capabilities and ability to strike targets deep within Israeli territory. This has created a new strategic parity between the adversaries, with both possessing the capacity for ‘mutual assured destruction.’ While the immediate threat of confrontation has receded, regional security remains uncertain. Israel’s attack on the Iranian embassy in Damascus, which sparked the conflict, was seen as an attempt to divert attention from the ongoing Gaza war. The conflict has exposed Israel’s dependence on the US for its security and has drawn international criticism for its actions. Diplomatic initiatives addressing the Palestinian question and US-Iran dialogue on the nuclear agreement and regional security challenges are crucial to prevent further escalation and ensure long-term stability.