Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
Iran has launched long-range and intermediate-range ballistic missiles towards the joint U.S.-UK military base on Diego Garcia in the Indian Ocean, in what Israeli officials said was a major escalation in the war.
The strikes, alongside missile attacks on southern Israel, have widened the scope of the conflict beyond the Middle East.
The UK Ministry of Defence condemned the strikes as “reckless attacks across the region” and warned they posed a threat to British interests and allies. Israeli officials said the launches were Iran’s first use of missiles of this range in the conflict, extending the potential threat well beyond the Middle East.
According to Israel Defence Forces Chief of Staff Eyal Zamir, Iran fired two ballistic missiles with a range of about 4,000km at the U.S.-UK base on Diego Garcia. “These missiles are not intended to strike Israel,” Zamir said, noting that European capitals such as Berlin, Paris, and Rome are within range.
The attack came before the British government gave specific authorisation for the U.S. to use UK bases in strikes on Iranian missile sites, according to a Ministry of Defence source.
Late on Saturday, Iranian missiles hit southern Israeli cities, including Dimona and Arad, injuring dozens, among them children. The Islamic Revolutionary Guard Corps said the strikes targeted “military installations” and security centres. Israeli air defences were reported to be functioning but did not intercept the missiles.
Israel’s nuclear facility is about 13 kilometres southeast of Dimona. Both cities are near several military installations, including Nevatim Air Base, one of Israel’s largest.
“This has been a very difficult evening in the battle for our future,” said Israeli Prime Minister Benjamin Netanyahu. “We are determined to continue striking our enemies on all fronts.”
U.S. President Donald Trump threatened to “obliterate” Iranian power plants if Tehran did not reopen the Strait of Hormuz within 48 hours. Iran responded, warning it would target U.S. infrastructure, including energy facilities in the Gulf.
The war, now in its fourth week, has killed more than 2,000 people in Iran and 15 people in Israel, while global markets have reacted sharply to disruptions in energy supplies. In the United States, public opinion is divided, with a recent poll showing that 59% of Americans disapprove of military strikes against Iran.
The conflict has become a political and economic challenge worldwide, with rising energy prices fuelling inflation and heightening tensions across the region.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Türkiye has established four sub-commissions to oversee the implementation of a new legal framework tied to the disarmament of the outlawed Kurdistan Workers’ Party (PKK).
Central Asia is moving beyond experiments with digital assets as governments begin putting new forms of digital money into practice.
Parents in Gaza are being urged to stop their children flying kites after Israel threatened tougher military action over those drifting across the border.
Armenia is “free” to leave the Collective Security Treaty Organisation (CSTO), Kremlin Spokesperson Dmitry Peskov has said. He made the remarks after Armenian Prime Minister Nikol Pashinyan said he would be “very pleased” if the Russian-led military alliance expelled Armenia.
Armenia’s Anti-Corruption Committee has disclosed details of a criminal case involving former President Robert Kocharyan, saying he and five other people - including his son - have been detained as part of a corruption investigation.
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