The Wall Street Journal | Sune Engel Rasmussen: The Iranian strikes on Iraqi military bases that housed U.S. troops, along with the Saudi missile-and-drone attack attributed to Iran in September, demonstrated a missile arsenal with a sophistication, accuracy and reach capable of threatening and deterring the country’s adversaries across the region.

Early on Wednesday local time, more than a dozen ballistic missiles were launched from Iran and struck two Iraqi bases—Al Asad in the west and Erbil in the north—in retaliation for the U.S. killing last week of top Iranian...

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