US-Israel Iran War Live Updates

A prolonged conflict is expected to continue weighing heavily on global markets, according to Eric Golson, a University of Surrey economics professor, who believes that the markets are finally coming to terms with the reality of a drawn-out war. Golson shared his insights with Al Jazeera, stating that economists and markets generally view the prospect of a long-term resolution as a negative factor.

Australian Foreign Minister Penny Wong has sharply criticized Iran’s actions, which have effectively shut down the Strait of Hormuz, a critical global waterway. Following a virtual meeting convened by the UK, involving 40 countries, Wong expressed her concerns about the devastating impact of Iran’s blockade on communities worldwide, particularly those most susceptible to economic hardship.

Reports from Kuwait’s state news agency indicate that a major oil refinery in Al Ahmadi, managed by the Kuwait Petroleum Corporation, came under attack in a pre-dawn drone assault on Friday.
According to a post on X, the drone strikes triggered fires in several operational areas, but fortunately, no personnel were harmed.
Crews from emergency and firefighting services have been dispatched to the affected site.
A preceding alert on X had cautioned that Kuwait was facing a wave of hostile missile and drone attacks.

Iranian military officials have issued a stark warning, stating that if the US proceeds with plans to strike Iranian power plants, Tehran will retaliate by targeting regional energy and telecommunications companies with significant American investment.

A statement from the UAE’s ministry of defence confirms the country is countering a recent surge in missile and drone attacks, with ongoing efforts to mitigate the threat.

Ahead of a crucial vote on Friday, Iran’s foreign minister, Abbas Araghchi, cautioned against any aggressive maneuvers – including within the UN Security Council – that could exacerbate tensions surrounding the proposed resolution. The resolution, if adopted, would grant UN member states the authority to employ defensive measures to ensure the Strait of Hormuz remains accessible.

In a recent article published in the US-based Foreign Affairs, Javad Zarif, Iran’s former Foreign Minister, has advocated for his country to formally acknowledge victory and negotiate a mutually beneficial agreement that would not only bring an end to the current conflict but also prevent future hostilities. As the primary representative of Iran in nuclear negotiations with the US and other nations for several years, Zarif has outlined a proposed framework for ending the war with the US and Israel on terms that would be advantageous to Tehran.

Windward, a maritime intelligence firm, has reported a surge in the number of vessels navigating the Strait of Hormuz, with 16 transits recorded on Wednesday, marking the third consecutive daily increase. Notably, all 16 vessels opted for a route via Larak Island, a development that suggests multiple countries are engaging in negotiations with Iran to secure passage. This trend may indicate a potential rise in transit numbers in the coming days. Although the current traffic volume remains significantly lower than pre-conflict levels, with approximately 130 daily vessels prior to the February 28 war, according to UN Trade and Development.

In a statement issued on Friday morning, Saudi Arabia’s Ministry of Defence confirmed that it had successfully countered a series of aerial threats, downing six drones in a swift and decisive operation. According to ministry officials, the drones were intercepted over the course of the past hours, with no information provided regarding the perpetrators behind the attacks.

On X, former Iranian Foreign Minister Javad Zarif has elaborated on his proposal for a blueprint to bring an end to the conflict between the United States and Iran, which he had previously shared in Foreign Affairs.