live Oil climbs past $119 a barrel as Iran crisis squeezes global supply - Monday 9 March
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
In a high-stakes diplomatic move, China hosted a trilateral meeting with Afghanistan and Pakistan, signaling its growing role as a power broker in the region.
Diplomats from Pakistan, China and Taliban met in Beijing in an “informal” trilateral dialogue aimed at strengthening regional security and economic development.
The meeting featured Chinese Foreign Minister Wang Yi, Pakistani Deputy Prime Minister and Foreign Minister Ishaq Dar, and Afghanistan's Acting Foreign Minister Amir Khan Muttaqi.
The talks come at a critical moment. Afghanistan is facing political isolation, economic collapse, and a humanitarian crisis as Pakistan pushes out hundreds of thousands of Afghan refugees.
While many details of the discussion have been kept under wraps, the three countries agreed to expand regional cooperation on security and economic development, with China pushing to extend the China-Pakistan Economic Corridor (CPEC) into Afghanistan.
This would link Afghanistan to China’s massive Belt and Road Initiative, bringing much-needed investment into a country in need of jobs, trade, and infrastructure.
Afghanistan’s Desperate Need for Allies
Since the Taliban took over in 2021, Afghanistan has been cut off from much of the world. Billions of dollars in foreign aid has been frozen. Most countries still refuse to officially recognise the Taliban government.
At the same time, Pakistan, once a key backer of the Taliban, has turned on its neighbor. Citing security concerns, Islamabad has deported over 800,000 Afghans since 2023, many of whom have lived in Pakistan for decades.
For the Taliban, China’s invitation is a rare chance to break out of isolation. It offers the opportunity of investment, trade, and even political recognition.
But Beijing’s interest in Afghanistan is not purely humanitarian. It’s about stability along its borders, economic influence, and counterterrorism. China has long feared that unrest in Afghanistan could spill into its own borders.
By tying Afghanistan into economic led initiatives and backing Taliban-led security efforts, Beijing aims to keep a lid on instability, and fill the vacuum left by the U.S. withdrawal.
China is also signaling to the West: If you won’t engage with Afghanistan, we will.
What's next?
For the people of Afghanistan, especially those being forced back from Pakistan with no homes, no jobs, and no safety, the stakes couldn’t be higher. Economic deals may help in the long run, but right now, millions need food, shelter, and protection.
China’s involvement could bring opportunity and the three countries agreed to meet again in Kabul soon.
But without serious pressure on Pakistan to stop the mass deportations, and without guarantees for Afghan rights, this diplomatic breakthrough risks becoming just another photo op.
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.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
An explosion damaged a synagogue in the Belgian city of Liège early on Monday (9 March) in what authorities said was an antisemitic attack that caused damage but no injuries.
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.
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