Recent Iranian threats have heightened trader focus on potential targeting of Bahrain. On October 13, the IRGC Navy warned tanker crews at Kuwaiti and Bahraini docks to abandon vessels, citing imminent strikes amid retaliation for U.S. attacks on Iranian shipping. Days earlier, Iranian diplomats at the UN warned Bahrain against permitting its territory or airspace for further strikes on Iran, vowing a response. Bahrain hosts the U.S. Fifth Fleet, has not restored diplomatic ties severed in 2016, and has rejected joint talks with Iran absent prior normalization. These statements build on a pattern of Iranian missile and drone operations against Bahraini infrastructure and U.S.-linked sites during prior escalation phases, alongside Bahrain's arrests of alleged IRGC-linked networks. Fragile ceasefire talks and Hormuz navigation disputes add near-term uncertainty around any direct action.