G7 set to discuss climbing oil prices, release of emergency reserves
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint r...
Iran has warned it will respond to any move by Western powers to reinstate United Nations sanctions over its nuclear programme, though it has not specified what form that response would take. The statement came from Foreign Ministry spokesperson Esmaeil Baghaei during a press conference on Monday.
Last week, a French diplomatic source told Reuters that European countries may be forced to trigger the “snapback mechanism”- a provision under the 2015 nuclear agreement if a new deal that safeguards European security is not reached. The mechanism allows U.N. sanctions to be reimposed on Iran in the event of serious non-compliance.
Baghaei rejected the threat as lacking legal and political legitimacy, warning that Tehran would respond appropriately and proportionally. He criticised the European parties to the agreement, the UK, France, and Germany, accusing them of serious violations of their Joint Comprehensive Plan of Action (JCPOA) obligations and arguing they have no moral or legal right to invoke the snapback provision.
The JCPOA was signed in 2015 by Iran, the U.S., UK, France, Germany, Russia, and China, and lifted sanctions in exchange for strict limits on Iran’s nuclear activities. Western governments have long accused Iran of seeking to develop nuclear weapons, a charge Tehran denies.
The United States withdrew from the JCPOA in 2018 during President Donald Trump’s first presidency, with Trump branding the deal “weak.”
Now in his second term, Trump has called on Iran to return to the negotiating table for a revised agreement, following a recent ceasefire that ended a 12-day air conflict between Iran and Israel.
When asked whether Iranian Foreign Minister Abbas Araqchi would meet with Trump’s Middle East envoy, Steve Witkoff, Baghaei said that no date or location for renewed talks had yet been determined.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Baku has completed its evacuation of staff from the Azerbaijan Consulate General in Tabriz, while most employees from the Azerbaijan Embassy in Tehran have also returned.
Tehran’s Mehrabad Airport came under attack in heavy airstrikes on early Saturday morning (7 March), Iranian news agencies reported.
U.S. President Donald Trump threatened further attacks on Iran on Saturday (7 March), while the United Arab Emirates and Saudi Arabia continued to shoot down missiles in their airspace. Meanwhile, Iran’s President Masoud Pezeshkian said Tehran would stop attacking its neighbours.
Russian attacks on Ukraine’s second largest city in the early hours of Saturday (7 March) killed 10 people, including two children. Kharkiv mayor, Ihor Terekov, said 10 residents died after a Russian ballistic missile hit a five storey apartment block in the city.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Recent operations by the U.S. military have led some to believe that a decapitating strike is a silver bullet capable of fixing any foreign policy problem swiftly. However, this logic is flawed, and the risks of relying on swift, targeted actions are too great to ignore.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
Global oil prices have surged past $110 a barrel this Monday as fresh U.S.-Israeli strikes hit multiple targets, including oil depots. Stock markets fell on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz, raising concerns over global energy supply.
The U.S. embassy in Oslo was hit by a loud explosion early on Sunday (8 March), causing minor damage but no injuries, in what may have been a deliberate attack linked to the crisis in the Middle East, Norwegian police said.
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