Israel launched strikes on Tehran and Beirut on Saturday (21 March) as the United States deployed thousands of additional Marines to the Middle East, while President Donald Trump criticised NATO allies as "cowards" over their reluctance to help open the Strait of Hormuz.
The Israeli military said it had targeted sites in Iran and carried out strikes in Beirut on Saturday, as it intensified operations against Hezbollah, the Iran-backed militia.
The strikes marked the deadliest spillover into Lebanon since Hezbollah began firing on Israel in support of Tehran on 2 March.
Israel also confirmed new strikes on Iran, including in the capital Tehran, according to a military statement.
Key energy infrastructure across Iran and neighbouring Gulf states has been hit, with oil prices rising by around 50% since the conflict began, raising concerns about a global economic shock.
In the United States, United Airlines said it would cut scheduled flights by 5% in the second and third quarters, citing expectations of prolonged higher fuel costs.
The Strait of Hormuz, a critical route for around one-fifth of global oil and liquefied natural gas supplies, has been effectively closed to most shipping since the United States and Israel launched military operations against Iran.
Trump on Friday accused U.S. allies of "cowardice" for declining to assist in reopening the strait.
Several allies, who were not consulted prior to the conflict, have said they would support "appropriate efforts" to ensure safe passage, although Germany and France have stressed that fighting must first stop.
German Chancellor Friedrich Merz said he would speak with Trump over the weekend.
Iran is prepared to allow Japanese-linked vessels to pass through the Strait of Hormuz, Kyodo News reported on Saturday, citing Iranian Foreign Minister Abbas Araghchi. Japan receives around 90% of its oil imports via the route.
The White House said it would waive sanctions for 30 days, allowing the sale of around 140 million barrels of Iranian oil stranded on tankers, in an effort to stabilise global markets.
The administration had previously eased sanctions on a similar amount of Russian oil.
Before launching Saturday’s strikes, the Israeli military said it had issued evacuation warnings for seven neighbourhoods in Beirut’s southern suburbs.
More than 1,000 people have been killed in Lebanon and over one million have been displaced, according to reports.
Iran’s Supreme Leader Ali Khamenei, who has not been seen in public since the Israeli attack that killed his father, said Iranians had responded with unity and resistance, adding they had "dealt a disorienting blow to the enemy".
A U.S. intelligence official, speaking on condition of anonymity, said Khamenei's statement raised questions about his condition, noting that his father had traditionally delivered a New Year address.
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While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
Russia will see revenue from its biggest single oil tax double to $9 billion in April, driven by the oil and gas crisis triggered by the U.S. and Israeli attack on Iran, Reuters calculations showed on Thursday.
NATO Secretary General Mark Rutte said on Wednesday he believes that some NATO countries were tested and failed amid Washington's criticism over European allies not getting involved in the U.S. and Israel's war against Iran.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Pakistan has warned that any attempt by India to block or significantly reduce river flows under the Indus Waters Treaty could have “far-reaching consequences”, after India's water minister said New Delhi was working to ensure that “not a single drop” of water reaches Pakistan in the coming years.
Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
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Senior officials from Azerbaijan and Armenia held a working meeting in Dilijan, Armenia, on 14 June to discuss issues related to the peace agenda between the two countries.
Tajikistan has strengthened its position as one of Central Asia’s fastest-growing economies. According to the European Bank for Reconstruction and Development (EBRD), the trend is supported by investment activity, industrial expansion and large-scale infrastructure projects.
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