Israel

Strait of Hormuz forms part of front line in Mideast war

  • - 'Maritime disruption' - The UKMTO said in its latest advisory, issued on Saturday, that, since the war started, "at least twenty maritime incidents involving commercial vessels and offshore infrastructure have been reported" across the Gulf, the Strait of Hormuz and the Gulf of Oman.
  • Attacks targeting commercial vessels in or near the Strait of Hormuz have put the blockaded waterway on the front line of the Middle East war, with spreading economic repercussions.
  • - 'Maritime disruption' - The UKMTO said in its latest advisory, issued on Saturday, that, since the war started, "at least twenty maritime incidents involving commercial vessels and offshore infrastructure have been reported" across the Gulf, the Strait of Hormuz and the Gulf of Oman.
Attacks targeting commercial vessels in or near the Strait of Hormuz have put the blockaded waterway on the front line of the Middle East war, with spreading economic repercussions.
Iran's quest to inflict maximum pain on the global economy in retaliation for US-Israeli strikes has all but shut the narrow strait through which 20 percent of global crude and LNG normally passes.
US President Donald Trump on Saturday urged countries that rely on oil carried through the Hormuz strait to step up and help take responsibility for keeping the passage open -- with American support.
Currently, only a tiny fraction of the vessels that used to navigate the strategic waterway have made it through, while some have ended up in flames.

Vessels hit

At least 10 oil tankers have been hit, targeted or reported attacks since the start of the conflict, according to data from the UK Maritime Trade Operations (UKMTO), the International Maritime Organization (IMO), Iraqi authorities, and Iranian authorities.
Seven were reported to the UKMTO: the Skylight, MKD Vyom, Hercules Star, Ocean Electra, Stena Imperative, Libra Trader and Sonangol Namibe.
Iraq's State Organisation for Marketing of Oil said two other oil tankers, Safesea Vishnu and Zefyros, were hit on Thursday.
The Revolutionary Guards, the ideological arm of the Iranian military, claimed drone strikes on two other oil tankers: the Prima and the Louis P. It also said it hit the Athe Nova, an asphalt/bitumen tanker.
AFP was not in a position to independently verify these claims.
Four bulk carriers, three container ships, a tugboat, an oil drilling vessel and a cargo ship also reported explosions, strikes or suspicious activity in the area to UKMTO.
Thailand's navy said its bulk carrier, the Mayuree Naree, was attacked while transiting the strait. Oman's navy rescued 20 crew members, but efforts were underway to find three more.
The Revolutionary Guards claimed the attack on Wednesday, and also said they had struck a Liberia-flagged vessel.
Provisional figures from the IMO show that at least six sailors and a port worker were killed, and one sailor was still reported missing as of Wednesday.

'Maritime disruption'

The UKMTO said in its latest advisory, issued on Saturday, that, since the war started, "at least twenty maritime incidents involving commercial vessels and offshore infrastructure have been reported" across the Gulf, the Strait of Hormuz and the Gulf of Oman.
It said that there was "no consistent pattern of Western ownership linkage, suggesting that the current strike pattern reflects a campaign aimed at broad maritime disruption rather than selective vessel targeting".
The Western-led Joint Maritime Information Center (JMIC) concurred, saying that while some vessels "have potential Western commercial associations... multiple attacks have involved vessels with no confirmed affiliation to US or Israeli ownership".

'Burn any ship'

Iranian officials have issued contradictory statements regarding the Strait of Hormuz since the war's outbreak.
On March 3, a Revolutionary Guards general threatened to "burn any ship" attempting to cross the strait and to block all oil exports from the Gulf.
But three days later, Foreign Minister Abbas Araghchi said Iran had "no intention" of closing the passage.
And on Wednesday, IRGC naval commander Alireza Tangsiri said in a social media post that "any vessel intending to pass must get permission from Iran". 
Separately, the Iranian military's operational command declared on state television that any vessel belonging to the United States, Israel or their allies would be considered a legitimate target and repeated a warning that it would "not allow a single litre of oil to transit" the strait.

Mine-layers destroyed

The Pentagon said Tuesday that US forces had destroyed 16 Iranian mine-laying vessels that could have been used to block the strait, but attacks with drones or missiles continued on Wednesday with at least three ships hit.
After US attacks on military infrastructure on Iran's crude oil export hub of Kharg Island Saturday, Trump warned that for "reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island".
"However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision."
France's President Emmanuel Macron, whose country is current president of the Group of Seven advanced economies, on Wednesday urged other G7 leaders to act to restore navigation in the Strait of Hormuz "as soon as possible".
bur-lam-vr-sjw/rmb

US

War in the Middle East: latest developments

  • "A short while ago, the IDF began a wide-scale wave of strikes targeting infrastructure of the Iranian terror regime in western Iran," the army said in a statement.
  • Here are the latest events in the Middle East war: - Israel launches 'wide-scale' strikes - Israel's military said it began a broad wave of strikes on western Iran, more than two weeks into the US-Israeli war against the Islamic republic.
  • "A short while ago, the IDF began a wide-scale wave of strikes targeting infrastructure of the Iranian terror regime in western Iran," the army said in a statement.
Here are the latest events in the Middle East war:

Israel launches 'wide-scale' strikes

Israel's military said it began a broad wave of strikes on western Iran, more than two weeks into the US-Israeli war against the Islamic republic.
"A short while ago, the IDF began a wide-scale wave of strikes targeting infrastructure of the Iranian terror regime in western Iran," the army said in a statement.

Iraq warns of prison at risk

Iraq warned that drone attacks near Baghdad airport threatened the security of the nearby prison housing Islamic State group suspects recently brought from Syria. 
They have been held since in Baghdad's al-Karkh prison, once a US Army detention centre known as Camp Cropper, which is part of Baghdad airport's complex that has been subjected to repeated strikes. 
Since the start of the Middle East war, Tehran-backed armed groups have been claiming daily drone and rocket attacks against US bases in Iraq.

Zelensky fears losing US support

Ukraine does not want to lose US support for its struggle against Russia as a result of Washington's war with Iran, President Volodymyr Zelensky has told journalists. 
"We are showing our willingness to help the United States and their allies in the Middle East" by offering to share Ukraine's drone expertise, and "we strongly hope that as a result of the Middle East, the United States will not turn its back on the question of the war in Ukraine", he added.  

Iran Guards threaten Israeli PM

Iran's Revolutionary Guards vowed on Sunday to "pursue and kill" Israeli Prime Minister Benjamin Netanyahu, according to their website Sepah News. 

Pentagon identifies soldiers killed

The Pentagon released the identities of six US crew members killed during the crash of a refuelling aircraft in western Iraq earlier this week, which authorities said was not caused by "hostile fire."
The Pentagon said the six members killed in the crash were John Klinner, 33; Ariana Savino, 31; Ashley Pruitt, 34; Seth Koval, 38; Curtis Angst, 30; and Tyler Simmons, 28.

South Korea evacuates more than 200

South Korea is evacuating 204 of its citizens and seven other nationals from the Middle East using a military aircraft, the foreign ministry said, calling the operation "unprecedented".
The evacuees are due to arrive in South Korea on Sunday afternoon.

Loud explosions heard in Bahrain's Manama

Explosions rang out over Bahrain's capital of Manama early on Sunday, two AFP journalists said.
Bahrain said it had intercepted 125 missiles and 203 drones since the start of Iran's attacks, which have killed two people in the kingdom and 24 others in neighbouring Gulf nations.

Iraq football team to travel to Mexico  

Iraq will travel to Mexico for a 2026 World Cup playoff match despite calls for it to be postponed due to the Middle East war, the country's football association said Saturday.
The national team would depart in the coming days via a private plane ahead of the match scheduled for March 31 in the Mexican city of Monterrey. 

Bahrain, Saudi Arabia F1 races cancelled

The Formula One races scheduled for April in Bahrain and Saudi Arabia have been cancelled due to the conflict, motorsport's governing body announced.

More Iranian footballers drop asylum bid

Three members of the Iranian women's football team granted asylum in Australia have changed their minds and decided to return home to Iran, Home Affairs Minister Tony Burke said.
One other team member seeking refuge had a change of heart in the past week and left the country, leaving a total of three out of seven asylum seekers from the squad still in Australia.
burs-giv/sbk

US

'Dubai is safe': UAE pushes to contain fallout from Iran onslaught

  • Dubai-based influencers have showcased support for the government and invoked a sense of national belonging -- hammering home the message that the country was as safe as ever.
  • Dubai is scrambling to preserve its image as a safe haven despite Iran's onslaught, with influencers rallying behind the government's message as authorities crack down on those sharing footage of strikes.
  • Dubai-based influencers have showcased support for the government and invoked a sense of national belonging -- hammering home the message that the country was as safe as ever.
Dubai is scrambling to preserve its image as a safe haven despite Iran's onslaught, with influencers rallying behind the government's message as authorities crack down on those sharing footage of strikes.
For decades, the Gulf was seen as an oasis of safety in a tumultuous Middle East, with the United Arab Emirates branding itself the safest country in the world and boasting of its very low crime rates.
But that image has now been shattered.
Iran has fired over 1,800 missiles and drones at the Emirates, more than any other country targeted by Tehran in the conflict, upending its aura of tranquillity despite its air defence intercepting a vast majority of the projectiles. 
Dubai-based influencers have showcased support for the government and invoked a sense of national belonging -- hammering home the message that the country was as safe as ever.
Kuwaiti-American reality star Ebraheem Alsamadi, known from "Dubai Bling", said in a video that he would stay in the UAE despite US consular advice, calling it "the safest country in the world, and nothing can change that".
"This has been my home for the past 16 years and I'm not going to leave it in 16 seconds... I will stand by this country as it stood by me," he added.
Authorities have also doubled down on their messaging as fears grow that war could do long-term damage to Dubai's reputation and its economy.
Dubai's Instagram account shared an emotional song to its 5.8 million followers that says "Dubai is safe, will always be safe".
Safety had long been inseparable from the city's identity. 
"Those in charge of that strategy are now debating how to evolve it in the face of this obvious insecurity, but for now are deferring to their habits," said Ryan Bohl, a geopolitical analyst at Rane Network.
The UAE is also, he said, "hoping the war will be short enough that people will not associate war with the country. And one of the best ways to do so is to minimise the impact of the conflict on the UAE itself".

Safeguarding reputation

Roughly 90 percent of people living in the UAE are foreigners, a crucial workforce for diversifying the economy away from oil towards tourism and services.
Retaining and attracting foreign talent remains key to that programme.
The tourism sector is acutely susceptible to security issues, but "different tourists from different parts of the world have different risk tolerances," Bohl said.
To combat further fallout, authorities have doubled down on pushing an image of normality during the war.
In the early days of the war, UAE President Mohamed bin Zayed Al Nahyan walked with his massive entourage through Dubai Mall.
At flagship tourist sites like Dubai Mall and JBR beach, foot traffic has reduced to a trickle as visitors have fled the country.
Emaar, a major real estate developer that runs famous shopping centres including Dubai Mall, has warned shops and restaurants against closing or operating at reduced hours during the war. 
"Such actions undermine public order, create unnecessary concern and adversely affect the reputation and economic standing of the United Arab Emirates," the company said, in a note sent to the shops seen by AFP.

'Sharing rumours'

Footage of drone strikes and smoke billowing above the city has been shared widely, while fleeing tourists recounted tales of escaping Dubai under fire to international media.
To avert further reputational damage, authorities moved swiftly.
Dubai police warned against "sharing rumours" but also "photographing or sharing security or critical sites".
Other Gulf countries have taken similar measures, with Qatar arresting more than 300 people.
The UAE attorney general ordered the arrest and urgent trial of a number of people for publishing videos of interceptions or "misleading, fabricated content".
The Emirati crackdown has sparked backlash after Western media covered the arrests.
This strategy "will backfire for specific audiences, particularly Westerners and others from democracies who are used to having freedom of expression," said Bohl.
This week, many companies evacuated Dubai's financial district as Iran threatened US and Israel-linked economic targets.
It will be key for the UAE, and especially Dubai, which cannot rely on oil for revenue, to showcase that it is still safe for investments.
"If major investors, particularly in infrastructure, technology, real estate, etcetera, no longer believe that their investments are safe this would have a much more significant impact and the diversification plans of the UAE," he said.
bur/dc/dcp/jfx

rate

US Fed expected to hold rates steady as Iran war roils outlook

BY ASAD HASHIM

  • And recent data ahead of the Fed meeting is not encouraging, with US GDP growth revised sharply lower in the final months of 2025.
  • US Federal Reserve policymakers are expected to leave interest rates unchanged at their meeting next week, as the US-Israel war on Iran sends shock waves through markets and recent economic data has begun to show weakness.
  • And recent data ahead of the Fed meeting is not encouraging, with US GDP growth revised sharply lower in the final months of 2025.
US Federal Reserve policymakers are expected to leave interest rates unchanged at their meeting next week, as the US-Israel war on Iran sends shock waves through markets and recent economic data has begun to show weakness.
The Fed will start its two-day meeting on Tuesday, with an announcement of the benchmark lending rate in the world's largest economy a day later.
The central bank cut rates three consecutive times last year before holding them steady at its January meeting.
It has a dual mandate of holding inflation near a long-term target of two percent while ensuring maximum employment.
With war in the Middle East causing global oil prices to spike, potentially increasing overall inflation and curbing growth, analysts say policymakers are unlikely to make any moves now. 
"This is certainly a bind for the Fed, because supply shocks are extremely hard to deal with in that they lift inflation and they curb output," EY-Parthenon chief economist Gregory Daco told AFP.
Affordability is a key political issue for President Donald Trump, who has claimed that prices are cooling even as consumers complain of the high costs of basic goods.
Trump has repeatedly insulted Fed Chair Jerome Powell as he demands lower rates, and the Justice Department threatened Powell with a criminal indictment as part of an investigation into cost overruns for a Fed renovation project.
While consumer inflation has dropped from a peak of 9.1 percent during the Covid pandemic, it remains well above the Fed's two- percent target.
"Unlike other countries, which have already achieved some level of price stability, we're five years in without price stability," said Diane Swonk, chief economist at KPMG. 
She warned that, depending on how long the Iran war lasts, inflation could again soar past four percent.
"I think the main story here is that we are seeing inflation moving away from the Fed's two-percent target, and that will lead many Fed policymakers to adopt an even more hawkish stance," said Daco.
- Duelling mandates -  
Raising rates to cool the economy, however, could bring the Fed into tension with its other mandate: managing unemployment.
The United States unexpectedly lost 92,000 jobs in February, government data showed, while the unemployment rate rose to 4.4 percent.
Analysts say a relatively steady unemployment rate has been masking churn beneath the surface.
Labor demand has been dropping, but unemployment has not spiked because that has been accompanied by a drop in supply due to Trump's immigration crackdown.
Daco said labor demand gauges were showing signs of concern, including a weak hiring rate "at a decade low," slowing wage growth and business leaders talking about labor replacement due to AI.
Swonk noted that spiking uncertainty due to war in Iran and its knock-on effects would further curb labor demand.
"Uncertainty acts as its own tax on the economy, and one of the first lines of defense that firms do is they freeze hiring," she said.
And recent data ahead of the Fed meeting is not encouraging, with US GDP growth revised sharply lower in the final months of 2025.

'Rock and a hard place'

Some Fed policymakers, however, have been cautious in describing the possible inflationary shocks of the war.
Fed Governor Christopher Waller expressed sympathy on Bloomberg TV last week for consumers facing spiking gasoline prices.
"But for us thinking about policy going forward, this is unlikely to cause sustained inflation," he said.
Swonk warned however that any economic slowdown from the war could be tough to recover from in the immediate term.
"I think people are discounting the risk of the lingering effects," she said, noting that supply disruptions affect more than oil prices.
"There's no question they're between a rock and a hard spot, and it just got harder," Swonk said of policymakers having to balance inflation and unemployment.
To Daco, however, uncertainty means the Fed is more likely to hold rates steady "for a long period of time."
Traders have begun to reduce their outlook for rate cuts, and Swonk said that hikes could even be on the menu.
"This is not a one-way street. We're at a busy intersection, and the stoplight's broken," she said.
aha/bys/js

insurance

Who covers AI business blunders? Some insurers cautiously step up

BY THOMAS URBAIN

  • Dawson cited a commercial real estate firm that tried to have its AI agent covered as a regular employee but had to revert to a special policy.
  • As more businesses trust artificial intelligence "agents" to independently grow their revenues, some insurance firms are stepping in to cover any mistakes -- while others are steering clear.
  • Dawson cited a commercial real estate firm that tried to have its AI agent covered as a regular employee but had to revert to a special policy.
As more businesses trust artificial intelligence "agents" to independently grow their revenues, some insurance firms are stepping in to cover any mistakes -- while others are steering clear.
"The whole intent of using advanced AI is to substantially replace human assistance and oversight in decisions," said Phil Dawson, head of AI policy and partnerships at the specialist insurer Armilla.
The trend of "agentic AI" has taken off, with bots handling computer tasks by themselves and businesses trimming ranks of human workers as a result.
"That really challenges some of the fundamental logic of existing insurance coverage," Dawson said.
Companies in the AI race are striving to perfect the technology, but they have not eliminated the possibility of errors such as "hallucinations" in which fabricated output is confidently presented.
AI-related liability risks have been largely accounted for implicitly under insurance policies in what is referred to as "silent coverage", analyst Sonal Madhok and law professor Anat Lior said in a research paper published late last year by the brokerage firm Willis Towers Wa000_96CW39Vtson.
However, they argue that the situation is similar to the liability coverage questions raised in the early years of cybercrime.
"We can expect policies to explicitly address AI in the near future, ending the silent coverage era," Lior and Madhok said.
Insurers are already moving beyond their "wait-and-see approach" when it comes to AI mishaps, according to Jonathan Mitchell, head of the financial sector practice at brokerage firm Founder Shield.
Some standard insurance policies now include "absolute AI exclusion" clauses that expressly deny coverage for AI-related mishaps, Mitchell said.
Dawson cited a commercial real estate firm that tried to have its AI agent covered as a regular employee but had to revert to a special policy.

'AI malfunction' protection

Founder Shield incorporates "AI malfunction and hallucination" scenarios specifically into professional services policies covering losses the technology causes clients.
The scope of such policies can be extended, for a price, beyond computer networks to cover real world harm such as AI mistakenly ordering too much inventory for a company.
Armilla tests AI models for vulnerabilities before committing to coverage and assesses whether the client's risk management framework adheres to international standards.
But like other insurers, Armilla can decline to take on certain risks.
For example, it avoids providing coverage for anything related to medical diagnostics or applications focused on mental health.
Munich Re, a global titan that does both insurance and reinsurance, provides coverage for companies that design AI models as well as those that use the technology.
"This risk of a model making errors or hallucinating cannot be fully avoided in any technical way," said Munich Re's head of AI insurance, Michael von Gablenz.
"AI systems, at the end of the day, are statistical models; and any statistical model has uncertainty in it," he said.
The AI risk brings with it great opportunity for insurers, though, with von Gablenz estimating the size of the market could eclipse that of cybersecurity insurance.
The Deloitte Center for Financial Services projects the global AI insurance premium market could grow to as much as $4.8 billion by 2032.
tu-gc/js

US

Trump seeks global backing to secure vital Gulf oil route

BY AFP TEAMS IN JERUSALEM, TEHRAN, DUBAI, BAGHDAD AND WASHINGTON

  • Washington's embassy in Iraq was hit by a drone, security sources told AFP -- the second such strike during the war -- while the Emirati consulate in Iraqi Kurdistan was targeted for the second time in a week.
  • US President Donald Trump urged other nations to help secure a vital shipping lane choked off by the war with Iran that showed no signs of slowing on Saturday, as strikes hit the US embassy in Baghdad and a major Emirati energy facility.
  • Washington's embassy in Iraq was hit by a drone, security sources told AFP -- the second such strike during the war -- while the Emirati consulate in Iraqi Kurdistan was targeted for the second time in a week.
US President Donald Trump urged other nations to help secure a vital shipping lane choked off by the war with Iran that showed no signs of slowing on Saturday, as strikes hit the US embassy in Baghdad and a major Emirati energy facility.
Two weeks after the United States and Israel attacked Iran, the entire Gulf region remained in the grip of a conflict that has sent shockwaves through the global economy. 
The war has also spilled into Lebanon, where the health ministry says Israeli strikes have killed hundreds as Israel battles the Tehran-backed militant group Hezbollah.
Oil prices have surged 40 percent as Iran has choked off the vital Strait of Hormuz and attacked Gulf energy facilities. 
Clouds of black smoke rose over Fujairah, home to a major Emirati oil storage and export terminal, AFP journalists saw, shortly after Iran's military warned UAE civilians to avoid port areas.
Washington's embassy in Iraq was hit by a drone, security sources told AFP -- the second such strike during the war -- while the Emirati consulate in Iraqi Kurdistan was targeted for the second time in a week.
US officials in Baghdad urged citizens to "leave now," but warned them not to approach the embassy or the consulate in Erbil "in light of the ongoing risk of missiles, drones, and rockets in Iraqi airspace."
In Kuwait, a drone strike damaged the international airport's radar system but caused no injuries, the civil aviation authority said.
After earlier vowing that the US Navy would "very soon" begin escorting tankers through the Strait of Hormuz, Trump called for reinforcements on Saturday.
"Many countries... will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe," he posted on social media, saying China, France, Japan, South Korea and Britain would "hopefully" be among them. 
He later said that although the United States had "beaten" Iran, countries dependent on the strait for oil "must take care of that passage, and we will help."

'Decisive phase'

US forces struck Kharg Island on Friday -- from which nearly all of Iran's oil exports flow -- with Trump saying they had "obliterated every MILITARY target" while sparing energy facilities.
Iran had warned that US-linked oil and energy firms would be "turned into a pile of ashes" if struck, with Foreign Minister Abbas Araghchi repeating the threat and accusing Washington of firing rockets at Kharg from bases in the UAE.
Israel's Defence Minister Israel Katz said the war was entering a "decisive phase," though he cautioned it would "continue as long as necessary."
Despite facing superior US and Israeli firepower, Iran appeared determined to fight on. 
AFP journalists heard blasts over Jerusalem after the military detected missiles launched from Iran on Saturday. Tehran later confirmed firing another salvo.
Qatar evacuated parts of downtown Doha and intercepted two missiles, with blasts heard by AFP journalists.
Iran's Revolutionary Guards (IGRC) said late Saturday they had launched missiles at US forces stationed at the Al-Kharj base in Saudi Arabia.
The kingdom has not confirmed the attack but said earlier it intercepted six ballistic missiles headed toward Al-Kharj.
Riyadh, a close US ally that hosts large numbers of American troops, has repeatedly been targeted by Iran -- including strikes on its oil industry -- but has not deployed its military against the Islamic republic.
The war has also begun disrupting global sport, with motorsport's governing body cancelling April's Bahrain and Saudi Arabia Formula One races.
Iran continued to face heavy bombardment, with local media reporting strikes in several provinces including one on an industrial site in Isfahan that killed 15 people, according to the Fars news agency. AFP could not verify the toll.
Iran's health ministry says more than 1,200 people have been killed by US and Israeli strikes -- figures AFP could not independently verify -- while the UN refugee agency says up to 3.2 million have been displaced.
The Pentagon says more than 15,000 targets in Iran have been hit by US and Israeli forces. A report this week said the first six days alone cost Washington $11.3 billion, while 13 US military personnel have died.

Transition

US media reported that the Pentagon has dispatched the amphibious assault ship USS Tripoli and around 2,500 Marines to the region.
In Iran, leaders appeared intent on projecting stability despite the killing of supreme leader Ali Khamenei on the war's opening day.
His son Mojtaba Khamenei was named the new supreme leader but has not appeared in public and is reportedly wounded.
Iran said Saturday that "there is no problem with the new supreme leader."
The war has also sparked another devastating round of fighting between Israel and Hezbollah in Lebanon.
The Tehran-backed militant group attacked Israel after Khamenei's death and its leader, Naim Qassem, has called the current conflict an "existential battle."
Israel has responded with air and ground assaults, killing at least 826 people, according to the Lebanese authorities.
It has also issued evacuation orders covering hundreds of square kilometres of Lebanon, displacing hundreds of thousands of people and prompting warnings of a humanitarian disaster.
Hezbollah said it was engaged in "direct clashes" with Israeli forces in the southern Lebanese town of Khiam late on Saturday.
Clashes began at 9:20 pm (1920 GMT), involving "light and medium weapons as well as rocket-propelled projectiles," it said.
A Lebanese official told AFP the country was forming a delegation to negotiate with Israel but no agenda, timing or location had yet been decided. 
bur-ft/acb

US

Trump says other countries 'must take care' of Hormuz

  • One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE!"
  • US President Donald Trump on Saturday said countries that rely on oil carried through the Hormuz strait should take responsibility for keeping the passage open, with American help.
  • One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE!"
US President Donald Trump on Saturday said countries that rely on oil carried through the Hormuz strait should take responsibility for keeping the passage open, with American help.
Global oil prices have surged by 40 percent as Iran has choked off the vital sea passage and attacked Gulf energy facilities since US-Israeli strikes launched the war on Iran.
"The United States of America has beaten and completely decimated Iran, both Militarily, Economically, and in every other way, but the Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help -- A LOT!" Trump said on social media.
"The US will also coordinate with those Countries so that everything goes quickly, smoothly, and well. This should have always been a team effort, and now it will be."
Trump, who has said the United States will soon start escorting tankers through the strait, added that he hoped China, France, Japan, South Korea and Britain would send ships to secure the passage.
Iranian strikes have all but halted maritime traffic in the Strait of Hormuz, through which a fifth of global crude oil and liquefied natural gas normally pass. It is just 54 kilometers (34 miles) wide at its narrowest point.

Reluctant allies

In his posts on Saturday, Trump asserted that Iran's military capability had been eliminated but conceded that it was still able to attack the strait.
"It's easy for them to send a drone or two, drop a mine, or deliver a close range missile somewhere along, or in, this Waterway, no matter how badly defeated they are," he wrote.
As he urged nations to send ships to the strait, he added that "the United States will be bombing the hell out of the shoreline, and continually shooting Iranian Boats and Ships out of the water. One way or the other, we will soon get the Hormuz Strait OPEN, SAFE, and FREE!"
On Friday, the US military heavily bombed targets on Iran's Kharg Island, which handles almost all of Iran's crude exports.
Trump threatened to also hit the island's oil infrastructure, which was spared in the strikes, "should Iran, or anyone else" interfere with passage of ships through the strait.
US allies have been reluctant to provide military support to the US-Israeli attacks on Iran, but they have mobilized warships in response to the widening conflict.
On Monday, President Emmanuel Macron visited a French aircraft carrier dispatched to the Mediterranean and said France and its allies were preparing a "defensive" mission to reopen the strait.
And on Tuesday, a UK warship left port in southern England en route to the eastern Mediterranean to "bolster British defences in the region" after a drone attack on Britain's Akrotiri base in southern Cyprus.
msp-bgs/

US

'Normal, but not really': Iraqis try to carry on as missiles fly

BY CHRISTY-BELLE GEHA

  • Within hours, warplanes and missiles arriving from every direction filled its skies, and the country became a chaotic danger zone with air strikes on Iranian-backed militias, attacks targeting US interests and Iranian strikes against exiled Kurdish opposition groups.
  • Hours before strikes hit Iraq's capital, crowds milled in central Baghdad to the sound not of missiles but clinking coffee cups, children laughing and women filming TikToks.
  • Within hours, warplanes and missiles arriving from every direction filled its skies, and the country became a chaotic danger zone with air strikes on Iranian-backed militias, attacks targeting US interests and Iranian strikes against exiled Kurdish opposition groups.
Hours before strikes hit Iraq's capital, crowds milled in central Baghdad to the sound not of missiles but clinking coffee cups, children laughing and women filming TikToks.
While Iraqis have grown accustomed to conflict over the decades, this has not diminished their anxiety about a wider war.
"Life seems normal here, but it isn't really," said Karim Al-Aqabi, 65, as he strolled with two friends down Al-Mutanabi Street, famous for its booksellers and performers.
"Instead of listening to music, we listen to the news constantly," the father of three, gesticulating to emphasise his point, told AFP.
Shortly after the US-Israeli attack on Tehran on February 28, Iraq closed its airspace.
Within hours, warplanes and missiles arriving from every direction filled its skies, and the country became a chaotic danger zone with air strikes on Iranian-backed militias, attacks targeting US interests and Iranian strikes against exiled Kurdish opposition groups.
In Iraq, successive governments have long struggled to maintain a delicate balance between Tehran and Washington. Now, once again, Iraqis are watching their nation become a proxy battleground between the two rivals.
The oil-rich country has spent much of the past four decades devastated by conflict and international sanctions, including a bloody sectarian struggle that followed the US-led 2003 invasion which toppled ruler Saddam Hussein and the emergence of jihadists.
Aqabi lived through the eight-year Iran-Iraq war in the Eighties. "Even then, we didn't abandon our country," he said. 
He said Iraqis would weather this latest conflict, too. "I will not leave my city even if we are ordered to evacuate. I will not leave even if my home remains buried under the rubble."
But his sentiment isn't shared by all: Mariam Ahmed, 22, hasn't left her home without her brother since the war began.
She spoke to AFP inside a smart new shopping centre off Al-Mutanabi street, a shiny complex which has become emblematic of Baghdad's partial recovery.
"I feel extremely worried and sad about what's happening," she said, describing how she had repeatedly heard warplanes.
"We don't deserve this," she said.

'Nothing to do with us'

The strikes early on Saturday, which killed three members of an Iranian-backed militia, were the first in the heart of Baghdad since the start of the war. Shortly after, a drone hit the US embassy.
Since the start of the war, Tehran-backed Iraqi factions have faced strikes -- unconfirmed by either the United States or Israel -- while Baghdad's airport, US bases and oil fields have been targeted and claimed by those groups.
Sitting with friends, Muhammad Ali, 22, said that, despite the warplanes roaring over Baghdad day and night, the war hadn't affected him.
Behind him sat scores of men, chatting and laughing as a large screen played jazz while an elderly woman wound through the crowd selling white roses.
Ali said he was "confronting the enemy (the US) through social media," while the "resistance attacks US bases," referring to Iran-backed groups.
As Ali and his friends chatted, puffing on a hookah pipe, across from them street photographer Walid Khaled was less nonchalant.
The 26-year-old has lost work already, as people cut back and make essential purchases only.
He lives near Baghdad International Airport, which has been targeted by drones and missiles and hosts a US diplomatic facility.
"We hear explosions all day long," he said, describing how his family had stocked up on rice and gas, in case the situation worsened.
"We had begun to experience a period of relative calm in Iraq, but now some have dragged us into matters that have nothing to do with us."
cbg/rbu/rh/dcp

US

Middle East turmoil revives Norway push for Arctic drilling

BY PIERRE-HENRY DESHAYES, WITH ADRIEN DE CALAN IN BRUSSELS

  • Norway supplies nearly a third of Europe's gas needs, after the war in Ukraine cut Russian gas deliveries.
  • Already the continent's biggest single supplier of natural gas since Russia invaded Ukraine, Norway is hoping to use the Middle East war to get European Union blessing to drill in the Arctic.
  • Norway supplies nearly a third of Europe's gas needs, after the war in Ukraine cut Russian gas deliveries.
Already the continent's biggest single supplier of natural gas since Russia invaded Ukraine, Norway is hoping to use the Middle East war to get European Union blessing to drill in the Arctic.
The European Commission is revising its Arctic strategy, which has since 2021 committed the EU to work towards an international moratorium on oil and gas drilling in the region.
With Iran blocking the Strait of Hormuz -- a crucial conduit for oil and gas deliveries -- Norwegian politicians and business circles have been quick to lobby for the planned ban to be scrapped.
"They're taking advantage of the situation to apply pressure," said Anne Karin Saether, project manager at the Norwegian Climate Foundation, an independent body that promotes science-backed climate policies.
Ahead of Monday's close of the European Commission's public consultation, Norway -- which is not an EU member but is closely aligned on many issues -- has seized every opportunity to extol the virtues of stable energy supplies from a democratic and peaceful country.
Even if that means drilling in the Arctic.
"Against the backdrop of Ukraine and Iran, it may now be even easier to scare European policymakers," said Truls Gulowsen, head of the Norwegian Society for the Conservation of Nature.

Lobbying efforts

"We've noticed the lobbying efforts from the Norwegian oil industry," a European diplomat in Brussels told AFP.
"My sense is they are concerned about restrictions on oil and gas extraction. Drill, baby, drill, in other words," he said.
Norway supplies nearly a third of Europe's gas needs, after the war in Ukraine cut Russian gas deliveries.
The Scandinavian country has only two gas fields above the Arctic Circle, Snohvit and Aasta Hansteen. But Oslo is encouraging exploration.
In January, the government proposed opening 70 new blocs to prospecting, more than half of them in the Arctic waters of the Barents Sea.
According to the Norwegian Offshore Directorate, Norway's undiscovered resources are estimated at 3.48 billion cubic meters of equivalent oil and gas, 60 percent of which are believed to be in the Barents Sea.
"Norway generally makes a point of sharing its knowledge about the country with Brussels so that EU member states have the best possible basis for making their decisions," Norwegian Energy Minister Terje Aasland told AFP.
"The fact that there is a war in the Middle East today has nothing to do with Norway's position on oil activities in the North," he insisted.
Stressing that the EU and Britain now buy "all the oil and gas" that Norway produces in the Barents Sea, Aasland argued that "prices would have been much higher" without these resources.
In remarks seen as possibly pressuring EU countries, Aasland warned last week that the Middle East conflict could lead the EU to reconsider its position on doing without Russian oil and gas. 
Norway's Confederation of Trade Unions has also called for more Arctic exploration.
One of its representatives in Brussels, Nora Hansen, stressed "the importance of jobs and of keeping people in the northern regions", seeing these as a security guarantee against neighbouring Russia.

Risk of sabotage

"Even if the EU abandons its proposed moratorium, it will in any case take several decades before new oil and gas activities in the Arctic begin production," said Karoline Andaur, the head of WWF Norway.
Although the European Commission's revised Arctic strategy is only due to be published in the second half of the year, it has already said that, at least for now, its "position has not changed" on an Arctic hydrocarbon moratorium.
But some fear there will be compromises and concessions.
Noting that its waters are ice-free thanks to the Gulf Stream, the Norwegian consultancy Rystad Energy has, for example, suggested excluding the Barents Sea from the EU's definition of the Arctic.
That would be a bad idea, Saether warned, citing environmental and climate-related objections: according to the International Energy Agency, global deposits of oil and gas already discovered or being exploited are sufficient to meet demand compatible with climate targets.
A Norwegian Climate Foundation report, entitled "The Barents Sea at Stake", also highlighted security challenges. 
Because of its proximity to Russia, the area would be an easy target for Russia, which is keen to maintain its dominant position in the Arctic.
"This makes us particularly vulnerable, because Russia, with some pretty simple sabotage against gas pipelines up there, could strike not only Norway but Europe as well," Saether said.
"We would become a more tempting target."
adc-phy/ef/po/tw

US

Middle East war: global economic fallout

  • Iran's military threatened to reduce US-linked oil facilities in the region "to a pile of ashes" if its energy infrastructure was hit.
  • Here are the latest economic events in the Middle East war on Saturday: - Kharg Island bombed, Iran threatens US-linked oil targets - President Donald Trump said the US heavily bombed military targets on Iran's Kharg Island, which handles almost all of the country's crude exports, and threatened to hit the island's oil infrastructure.
  • Iran's military threatened to reduce US-linked oil facilities in the region "to a pile of ashes" if its energy infrastructure was hit.
Here are the latest economic events in the Middle East war on Saturday:

Kharg Island bombed, Iran threatens US-linked oil targets

President Donald Trump said the US heavily bombed military targets on Iran's Kharg Island, which handles almost all of the country's crude exports, and threatened to hit the island's oil infrastructure.
"I have chosen NOT to wipe out the Oil Infrastructure on the Island. However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider," Trump posted.
Iran's military threatened to reduce US-linked oil facilities in the region "to a pile of ashes" if its energy infrastructure was hit.
Iranian news agency Fars reported that no oil infrastructure on Kharg had been damaged in the bombing.

US allows Venezuela fertilizer imports

Washington on Friday authorized imports of fertilizer from Venezuela, whose leader it deposed in January, as the US-Israel war against Iran drives up prices of the key agricultural commodity.
Washington has issued new licenses as part of the ongoing easing of its sanctions on Venezuela's energy sector. In addition to oil and gas, the licenses now include trade in fertilizers, including urea and phosphates.

Brent surges 11% over week

The price of a barrel of Brent crude, the international benchmark for oil, soared by 11 percent over the week to $103.14 at Friday's close, while stocks slipped.
Brent prices have rocketed more than 42 percent since US-Israeli strikes on Iran plunged the oil-rich Middle East into war.

Pushback on easing Russia sanctions

The US Treasury Department said it would temporarily allow the sale of Russian oil that is at sea as energy prices soared, triggering pushback.
The leaders of France, Germany and EU chief Antonio Costa all spoke out against the idea.
Russia's economic envoy Kirill Dmitriev said the global energy market "cannot remain stable" without his country's oil.

Only 77 ships have traversed Hormuz: Lloyd's

Only 77 ships have so far crossed the Strait of Hormuz in March as the war disrupts one of the world's most vital shipping routes, a maritime data firm reported Friday.
Lloyd's List Intelligence said most of the vessels belonged to the so-called shadow fleet of ships being used to skirt Western sanctions and regulations, typically linked to Russia and Iran.
It added during the period of March 1 through 11 last year, around 1,229 vessels made the passage through the waterway.

20 ships attacked trying to transit Hormuz

Twenty oil tankers and cargo ships have been attacked since the war began, according to AFP monitoring with British maritime security group UKTMO and other sources.
But a Turkish-owned ship was able to cross the Strait of Hormuz with Iran's permission, Turkey's transport minister said.

Serbia, Portugal cut fuel tax

Serbia's government temporarily cut fuel taxes by 20 percent, with its energy ministry saying the excise duties on petrol and diesel would be reduced from Friday until April 15.
Portugal also said it was renewing a temporary cut to fuel taxes, with officials adding that the cut would apply to petrol and diesel.

African nations have limited oil reserves

Fuel shortages caused by the war could knock up to three percentage points off African economic growth if they persist, a top regional energy regulator told AFP.
Most African countries have fuel reserves for just 15 to 25 days, compared to the International Energy Agency standard of 90 days, said Geoffrey Aori, CEO of the Regional Association of Energy Regulators for Eastern and Southern Africa.
He called on African governments to introduce fuel rationing and subsidies to cushion the blow of inflation and weakening currencies in the short term.

6 million air passengers affected

More than six million air passengers travelling to or from the Middle East have had their flights cancelled since the start of the war, according to the aviation data specialist Cirium.
It said more than 52,000 out of 98,000 scheduled flights have been called off.

Nepal restricts cooking gas

Nepal has started selling half-filled cooking gas cylinders to curb hoarding and panic buying, officials said, following import disruptions due to the war.
The landlocked Himalayan nation of 30 million relies almost entirely on India for the transportation of its fossil fuel needs, and around 90 percent of India's liquefied petroleum gas passes through the Strait of Hormuz.
burs-rl-bys/ceg/tc

US

Iran, US threaten attacks on oil facilities

BY AFP TEAMS IN TEHRAN, JERUSALEM, WASHINGTON, DUBAI AND BEIRUT

  • The Iranian military responded that oil and energy infrastructure owned by US-linked firms would be "immediately be destroyed and turned into a pile of ashes" if the United States struck its oil facilities, according to Iranian media.
  • Iran threatened Saturday to reduce US-linked oil facilities to "a pile of ashes" as the two-week-old Middle East war spilled over into a global oil price crisis.
  • The Iranian military responded that oil and energy infrastructure owned by US-linked firms would be "immediately be destroyed and turned into a pile of ashes" if the United States struck its oil facilities, according to Iranian media.
Iran threatened Saturday to reduce US-linked oil facilities to "a pile of ashes" as the two-week-old Middle East war spilled over into a global oil price crisis.
Iranian armed forces issued the warning after US President Donald Trump said he may decide to "wipe out" Iran's largest oil export hub on its Kharg Island.
Waves of drone, missile and aerial bombing have displaced millions in the region and reportedly killed more than 1,200 people in Iran since the United States and Israel opened hostilities on February 28.
Despite facing superior US and Israeli firepower, Iran has retaliated with missile and drone attacks against at least 10 countries.
Tehran has also squeezed the world economy by threatening to strike oil tankers on the Strait of Hormuz, bringing traffic to a virtual halt on a route that normally carries one fifth of global oil supplies.
Crude oil prices have surged more 40 percent since the war began.
Trump said Friday US forces had "totally obliterated" all military targets on Iran's Kharg Island oil export hub, describing it in a social media post as "one of the most powerful bombing raids in the History of the Middle East."
The US leader said he had chosen not to "wipe out" oil infrastructure on the Iranian island, for now.
"However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision," he said.
Trump said the US Navy would start escorting tankers through the Strait of Hormuz "very soon" to restore oil exports.
The Iranian military responded that oil and energy infrastructure owned by US-linked firms would be "immediately be destroyed and turned into a pile of ashes" if the United States struck its oil facilities, according to Iranian media.
US and Israeli attacks have killed more than 1,200 people in Iran, according to health ministry figures that could not be independently verified.
The UN refugee agency has estimated that up to 3.2 million people have been displaced inside Iran since the war started.

Blasts hit Tehran

Heavy blasts shook Tehran late Friday after the United States vowed to step up air strikes.
Trump described Iran as "totally defeated" and in search of a deal he was unwilling to consider.
According to the Pentagon, the US and Israel have struck more than 15,000 targets in Iran over the past two weeks. 
Israel's military said it conducted 7,600 strikes on the country, most of them against its missile programme.
Iran appears intent on showing it will come through the war intact and in control, despite its supreme leader Ali Khamenei being killed at the start of the US-Israeli campaign.
Khamenei's son Mojtaba Khamenei was named the new supreme leader, but has been absent from public view and said to be wounded.
Within Iran, the Revolutionary Guards have warned of a strong response to any anti-government protests, after demonstrations in January in which several thousand people were killed.
Iranian authorities have maintained an internet blackout since the war started.
A drone struck the US embassy in Baghdad on Saturday, an Iraqi security official and a security source said. An AFP journalist saw smoke rising from the complex.
The attack took place shortly after two Iran-backed fighters were killed in strikes on Iraq's capital, according to several sources.
After 14 days of war, the United States is reportedly sending reinforcements that could open up options beyond the airborne campaign.
The Wall Street Journal and New York Times said Friday the Pentagon had dispatched the Japan-based amphibious assault ship USS Tripoli to the region along with its complement of some 2,500 Marines.
The US military has lost 13 personnel since the war started. 
They include six who were aboard a refuelling aircraft that crashed in Iraq, an incident that US officials said was not the result of hostile fire.
Gulf countries are still being targeted by Iran.

Missiles intercepted

Qatar said it intercepted two missiles Saturday, after blasts were heard in the capital Doha and authorities said they had evacuated some key areas.
Interceptors were seen downing two projectiles over the Qatari capital's downtown area and blasts were heard, according to AFP journalists.
Saudi Arabia's defence ministry said its forces had intercepted dozens of drones on Friday.
Beyond the Gulf, Turkey said NATO forces shot down a ballistic missile launched from Iran -- the third such interception in the war.
Lebanon has been drawn into the war, too, after a Tehran-backed militant group attacked Israel in response to the killing of Iran's supreme leader.
An Israeli strike in southern Lebanon killed a dozen doctors, paramedics and nurses at a healthcare clinic, Lebanese health authorities said Saturday.
According to the Lebanese authorities, at least 773 people have been killed by Israeli attacks in Lebanon aimed at wiping out Iranian ally Hezbollah.
bur-djw/jm

summit

Trump, Xi prepare to meet amid Iran war, uncertain goals

BY DANNY KEMP AND BEIYI SEOW WITH ISABEL KUA IN BEIJING

  • In a sign that both sides want to set the stage for the Trump-Xi talks, US Treasury Secretary Scott Bessent is due to meet with Chinese Vice Premier He Lifeng in Paris this weekend.
  • Just over two weeks before President Donald Trump is due to meet his counterpart Xi Jinping in Beijing, Chinese uncertainty over the US leader's goals and the impact of the Iran war hang over the highly anticipated state visit.
  • In a sign that both sides want to set the stage for the Trump-Xi talks, US Treasury Secretary Scott Bessent is due to meet with Chinese Vice Premier He Lifeng in Paris this weekend.
Just over two weeks before President Donald Trump is due to meet his counterpart Xi Jinping in Beijing, Chinese uncertainty over the US leader's goals and the impact of the Iran war hang over the highly anticipated state visit.
Trump's trip, his first to China in his second term, is aimed at sealing a trade war truce the two leaders shook hands on when they met in South Korea in October.
But for Beijing, which likes to carefully choreograph such events to avoid any possibility of embarrassment, Trump's free-wheeling style is proving a challenge.
A source familiar with negotiations told AFP that Chinese officials were expecting more ambitious preparations for such a summit between the leaders of the rival superpowers.
The White House insisted however that preparations were going well for the visit from March 31 to April 2, with regular contacts and interactions with Beijing. 
"Unlike the autopen Biden administration that prized performance over outcomes, the Trump administration is very comfortable with trip planning, on both logistics and deliverables," a White House official told AFP, referring to the accusation that former president Joe Biden used an automated device to sign documents.
"The president looks forward to his visit to China, where he and President Xi will discuss a range of topics of importance to the world's two largest economies."
Trump is "intent on leveling the playing field for American farmers, manufacturers, and working families," the official added.

Trade war  

Business leaders however have been concerned that as of earlier this week, invitations had not gone out to be part of the US delegation.
"It's hard to imagine the president is not going to want to have a robust delegation," Sean Stein, president of the US-China Business Council, said Tuesday.
"We think it's important for that to happen soon."
Scott Kennedy of the Center for Strategic and International Studies believes both sides have discussed logistics but made less progress "on substance."
If business leaders are involved too late, that could leave the trip short on deliverables, he warned.
In a sign that both sides want to set the stage for the Trump-Xi talks, US Treasury Secretary Scott Bessent is due to meet with Chinese Vice Premier He Lifeng in Paris this weekend.
The meeting is likely meant to hammer out economic achievements to be announced at the leaders' summit, Fudan University professor Wu Xinbo told AFP.
The stakes are high, with Washington this week announcing trade investigations into countries including China, opening the door to penalties to replace the Trump tariffs overturned by the US Supreme Court.
The visit follows a turbulent year for US-China ties since Trump returned to the White House in January 2025, as the countries fought an escalating tariffs war after Trump imposed sweeping global duties in April.
Another concern is Taiwan, the self-governing island that some US officials believe Xi wants to invade in 2027. Trump said recently he would decide soon whether to send Taiwan more weapons, despite Xi's warnings not to.

Iran overshadows?

But perhaps the biggest cloud over the visit is war in the Middle East.
"If this war carries on to April, then that will be the main talking point in the Trump-Xi meeting," Benjamin Ho, an assistant professor at the S. Rajaratnam School of International Studies, told AFP.
China has condemned the US-Israeli strikes on Iran, which have hit oil imports to the world's second-largest economy at a sensitive time.
Yet Beijing has steered clear of concrete action to help Tehran, a long-time ally, or of direct confrontation with Washington.
Trump too has played down any rift, instead portraying the war as vital for keeping the Strait of Hormuz clear for oil traffic. 
"We're really helping China here," Trump said Monday.
China's investments in the Middle East, and decisions on investments, may be hit, but its perceived neutrality could help ships transit the strait, as happened with the Houthi rebels in Yemen.
Analysts said China is unlikely to play any mediating role, preferring to keep its distance.
Instead, Xi may use the summit to project an image of statesman-like stability, in contrast with the turbulence unleashed by his US visitor -- and avoid Iran altogether.
"Chinese officials probably want to avoid any public display of acrimony with Trump," said Jean-Loup Samaan, senior research fellow at the National University of Singapore's Middle East Institute.
bys-isk-dk/js

Trump

Trump 'has fun' buying shoes for cabinet members

  • Trump added that he had "never liked cabinet members walking in in sneakers."
  • US President Donald Trump confirmed Friday that he had bought several members of his cabinet the same shoes from his favorite brand.
  • Trump added that he had "never liked cabinet members walking in in sneakers."
US President Donald Trump confirmed Friday that he had bought several members of his cabinet the same shoes from his favorite brand.
The unusual gifts were first reported this week in The Wall Street Journal, which said Trump had given out pairs of Florsheim shoes worth $145 -- at times even guessing people's shoe size in front of them.
"It's a nice shoe," Trump said in an interview with Fox Radio when asked about the story.
"What I do is, is somebody that for many many years has walked around in shoes that were no good, and would not be that comfortable," said the 79-year-old Republican.
"So I have fun with it. When they tell me they have a problem, I say, 'Let me get you a pair of shoes.' It seems to work out pretty well. Now they look all spiffy and nice. It's a gift from Donald Trump."
Trump added that he had "never liked cabinet members walking in in sneakers."
Those wearing the shoes include Vice President JD Vance, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth, The Wall Street Journal said.
One photo showed Rubio in what appeared to be the same footwear, which looked too big on the heels.
The model on the Florsheim website that most closely resembles those in the photographs is a leather dress shoe made in China, sold for $145 a pair.
dk/js

Global Edition

Oil stays above $100, stocks slide tracking Mideast war

  • "The pressure remains with no end in sight in the Middle East conflict," Razaqzada added.
  • Oil prices stayed over $100 per barrel Friday while stock markets slid, with no end in sight to disruption in crude supplies as war rages on in the Middle East.
  • "The pressure remains with no end in sight in the Middle East conflict," Razaqzada added.
Oil prices stayed over $100 per barrel Friday while stock markets slid, with no end in sight to disruption in crude supplies as war rages on in the Middle East.
With the conflict heading toward its third week, equity markets continued falling amid investor worries of an extended crisis that could fan inflation and hammer the global economy.
The price of Brent crude, the benchmark international oil contract, dipped below $100 during the day, sending equities briefly higher.
But stocks slid back into the red as Brent climbed back above the $100 mark. 
It closed at $103.14 per barrel, and has soared by more than 42 percent since the start of the conflict.
US-Israeli strikes on Iran on February 28 plunged the Middle East into war, sparking a surge in fuel prices as Tehran vowed to choke the Strait of Hormuz -- a critical artery for global energy transport.
"Crude oil is continuing to dictate direction for markets as we head towards the end of a volatile week," said Fawad Razaqzada, market analyst with Forex.com.
"The pressure remains with no end in sight in the Middle East conflict," Razaqzada added.
"Traders are trying to figure out what a fair value for crude oil is right now, given the big release of emergency oil reserves, and the temporary relaxation of sanctions on Russian oil sales that's already at sea," he said.
Iran's threats over the Strait of Hormuz, through which a fifth of global crude oil and liquefied natural gas passes, is causing worries of rising prices rippling through the world economy.
"Fears of a burgeoning energy crisis remain front and center for investors," noted Joshua Mahony, chief market analyst at Scope Markets.
"Inflationary fears are particularly prevalent," Mahony added.
Major central banks, which prior to the war's outbreak were heavily forecast to keep cutting interest rates, are now widely expected next week to freeze borrowing costs or even hike them to keep a lid on inflation.
An unprecedented seven central banks are due to hold meetings on interest rates next week.
Investors also digested updated US economic growth data for the fourth quarter, which was revised down to 0.7 percent from an initial reading of 1.4 percent.
And delayed data showed the US Federal Reserve's preferred inflation gauge had dipped to 2.8 percent in January.
This is still higher than the Fed's two-percent inflation target, and reflects a period before energy prices shot higher.
The US central bank now faces an environment where inflation remains sticky and could soon be boosted by energy prices, while GDP growth and the labor market continue to lose momentum, said eToro US Investment Analyst, Bret Kenwell.
On foreign exchange markets, the dollar held gains against major rivals owing to its safe-haven status and expectations that US interest rates will remain elevated longer than expected.
AJ Bell investment director Russ Mould said next week's central bank meetings "come at a delicate time."
"Markets will be watching closely for any signals on how they plan to deal with surging oil and gas prices and whether they see it as a short-term bump to look through."

Key figures at around 2055 GMT

Brent North Sea Crude: UP 2.7 percent at $103.14 per barrel
West Texas Intermediate: UP 3.1 percent at $98.71 per barrel 
New York - Dow: DOWN 0.3 percent at 46,558.47 points (close)
New York - S&P 500: DOWN 0.6 percent at 6,632.19 (close)
New York - Nasdaq Composite: DOWN 0.9 percent at 22,105.36 (close)
London - FTSE 100: DOWN 0.4 percent at 10,261.15 (close)
Paris - CAC 40: DOWN 0.9 percent at 7,911.53 (close)
Frankfurt - DAX: DOWN 0.6 percent at 23,447.29 (close)
Tokyo - Nikkei 225: DOWN 1.2 percent at 53,819.61 (close)
Hong Kong - Hang Seng Index: DOWN 1.0 percent at 25,465.60 (close)
Shanghai - Composite: DOWN 0.8 percent at 4,095.45 (close)
Euro/dollar: DOWN at $1.1416 from $1.1514 on Thursday
Pound/dollar: DOWN at $1.3223 from $1.3346
Dollar/yen: UP at 159.74 yen from 159.39 yen
Euro/pound: UP at 86.33 pence from 86.27 pence
burs-rl-bys/sla

Israel

Democrats accuse Trump of aiding Russia with sanctions relief

  • The senators noted media reports -- partially endorsed by Trump in an interview on Friday -- saying Russia is providing Iran with intelligence that could be used to target US forces, even as the Trump administration loosens sanctions that constrained Moscow's oil sector.
  • Democrats accused US President Donald Trump on Friday of weakening pressure on Russia by easing oil sanctions amid the conflict with Iran, saying the move risks boosting Moscow's war revenues while American troops face threats of their own in the Middle East.
  • The senators noted media reports -- partially endorsed by Trump in an interview on Friday -- saying Russia is providing Iran with intelligence that could be used to target US forces, even as the Trump administration loosens sanctions that constrained Moscow's oil sector.
Democrats accused US President Donald Trump on Friday of weakening pressure on Russia by easing oil sanctions amid the conflict with Iran, saying the move risks boosting Moscow's war revenues while American troops face threats of their own in the Middle East.
Senate Democratic Minority Leader Chuck Schumer and two of his top lieutenants, Elizabeth Warren and Jeanne Shaheen, called for Treasury Secretary Scott Bessent to testify before Congress about the decision.
The senators noted media reports -- partially endorsed by Trump in an interview on Friday -- saying Russia is providing Iran with intelligence that could be used to target US forces, even as the Trump administration loosens sanctions that constrained Moscow's oil sector.
"Russia is reportedly providing Iran intelligence to target and kill US service members and the Trump administration's response has been to loosen pressure and help facilitate a windfall of $150 million each day for its war machine," the senators said in a joint statement.
"President Trump is offering more relief to the Kremlin than he is to American families, who are now paying more at the pump and for most other essentials because of this conflict," they wrote.
Trump acknowledged in a radio interview that aired Friday he suspected Putin "might be" aiding Iran "a little bit" in the war.
He announced earlier this week that Washington would waive some oil-related sanctions in order to boost global supply and bring down prices, as the US-Israeli war with Iran disrupts shipping through the Strait of Hormuz and sends energy markets into turmoil.
The president did not specify which countries would benefit from the relief, but the move followed temporary steps allowing Indian refiners to purchase Russian oil that had been stranded at sea under existing sanctions.
The Democratic senators argued that relaxing sanctions on Russian energy companies and related traders would generate major profits for Moscow at a time when the Kremlin remains under Western pressure over its invasion of Ukraine.
They also questioned whether the administration had complied with a US law requiring Congress to be notified before sanctions on Russia are eased.
"Secretary Bessent needs to testify because Congress and the American people deserve immediate answers," the lawmakers said.
Energy Secretary Chris Wright defended the sales authorizations, saying the White House was working to ease energy price pressures caused by disruptions linked to the Iran war by tapping oil already in global markets -- while keeping sanctions policy toward Russia unchanged.
"(This) administration remains focused on American consumers and businesses while carrying out this critical mission to end Iran's ability to threaten Americans, its neighbors and global energy markets," he said in a statement on social media.
ft/js

Fed

US federal judge quashes subpoenas in Fed chair investigation

BY ASAD HASHIM

  • "The Court therefore finds that the subpoenas were issued for an improper purpose and will quash them."
  • A US federal judge has quashed subpoenas issued to the Federal Reserve as part of an investigation that Fed chair Jerome Powell has called an attempt by the Trump administration to intimidate the independent central bank.
  • "The Court therefore finds that the subpoenas were issued for an improper purpose and will quash them."
A US federal judge has quashed subpoenas issued to the Federal Reserve as part of an investigation that Fed chair Jerome Powell has called an attempt by the Trump administration to intimidate the independent central bank.
"A mountain of evidence suggests that the Government served these subpoenas on the Board to pressure its Chair into voting for lower interest rates or resigning," wrote Judge James Boasberg in a filing dated March 11.
"The Court therefore finds that the subpoenas were issued for an improper purpose and will quash them."
The documents were made public Friday. The Justice Department's investigation was linked to the cost of renovations at the Fed's headquarters.
US prosecutor Jeanine Pirro swiftly responded, saying the Trump administration would appeal the order.
"This is the antithesis of American justice. Exonerating anyone without any records, without an investigation or question, is not how our criminal justice system works," Pirro told reporters.
"No one, folks, is above the law, and this outrageous decision will be appealed by the United States Department of Justice," she said.
US President Donald Trump has repeatedly insulted Powell over the central bank's policies on setting the economy's key interest rate.
In January, Powell revealed that the Justice Department had launched a probe linked to cost overruns in the Fed's renovations.
The investigation was unprecedented, and Powell released a statement saying it was meant to intimidate him and the Fed.
"This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions -- or whether instead monetary policy will be directed by political pressure or intimidation," he said at the time.
On Friday, Judge Boasberg's order was scathing in its criticism of Pirro's office.
"The Government has produced essentially zero evidence to suspect Chair Powell of a crime; indeed, its justifications are so thin and unsubstantiated that the Court can only conclude that they are pretextual."
The Fed did not comment on the issue when queried by AFP.

Repeated Trump attacks

Trump has been vocal about his preferences for lower interest rates, criticizing Powell and attempting to unseat another Fed Governor, Lisa Cook, over mortgage fraud allegations.
In January, the US Supreme Court appeared skeptical of Trump's attempts to fire Cook, with a majority of judges expressing doubts that the administration had shown sufficient cause to remove her.
Republican Thom Tillis of the Senate Banking Committee recently vowed to oppose the confirmation of Fed nominees -- including the next chairman -- until the Justice Department probe against Powell is resolved.
That would hold up Trump's nomination for the next Fed chair when Powell's term is up in May.
"This ruling confirms just how weak and frivolous the criminal investigation" of Powell is, Tillis wrote on social media Friday.
"Appealing the ruling will only delay the confirmation of Kevin Warsh as the next Fed Chair," he said on X.
The Fed cut rates three times last year but held off on further reductions in January as policymakers walk a tightrope, balancing inflation risks alongside labor market worries.
Its rate-setting committee will hold a meeting next week, with analysts expecting it to keep rates unchanged amid economic turmoil from the US-Israeli war on Iran and recent economic data.
aha-bys/jgc

US

UK govt warns petrol retailers against 'unfair practices' during Iran war

  • "We have said so clearly that we won't tolerate unfair practices either here or anywhere else in the industry.
  • Britain's energy minister warned petrol retailers Friday that the government would not tolerate "unfair practices" amid a row over rising fuel prices sparked by the Middle East war.
  • "We have said so clearly that we won't tolerate unfair practices either here or anywhere else in the industry.
Britain's energy minister warned petrol retailers Friday that the government would not tolerate "unfair practices" amid a row over rising fuel prices sparked by the Middle East war.
Executives from forecourt operators and firms including Asda, BP, ExxonMobil and Shell were called to Downing Street for talks with Ed Miliband and finance minister Rachel Reeves.
The discussions were convened due to increasing concerns about the impact the conflict between the United States and Israel against Iran is having on already strained household finances.  
"We have said so clearly that we won't tolerate unfair practices either here or anywhere else in the industry. It is our obligation as the government to ensure the consumers are treated fairly in this crisis," said Miliband.
Reeves told the petrol bosses that she wanted an "open and frank conversation" with them.
"We have concerns around the high prices and we do have a shared obligation," she added.
The meeting was earlier thrown into doubt when the Petrol Retailers Association (PRA) threatened to pull out, accusing the government of using "inflammatory language" regarding rising fuel prices.
The group claimed that recent comments by ministers were leading members of the public to abuse workers at petrol stations. 
Reeves had asked the competition watchdog to "crack down" on "rip-off" fuel prices to guard against profiteering over the high oil prices caused by the war.
British automotive services company the RAC estimates that the average litre of unleaded petrol has risen from about £1.33 ($1.76) to £1.41, since the conflict began on February 28 with US and Israeli strikes on Iran.
Britain's main opposition Conservative party is putting pressure on Reeves to cancel her intention to marginally increase fuel levies later this year.
pdh/jkb/rh

US

War has halted Gulf oil flow -- and restarting it won't be easy

BY SYLVIE HUSSON

  • - Since the war started with US-Israeli strikes on Iran on February 28, at least 33 strikes or attempted strikes have targeted energy infrastructure in the Middle East, according to an AFP tally.
  • The war in the Middle East has largely paralysed the Gulf region's crucial oil industry, which has been hit by attacks and an export blockade.
  • - Since the war started with US-Israeli strikes on Iran on February 28, at least 33 strikes or attempted strikes have targeted energy infrastructure in the Middle East, according to an AFP tally.
The war in the Middle East has largely paralysed the Gulf region's crucial oil industry, which has been hit by attacks and an export blockade.
The war has forced companies to dramatically slow or even halt production -- and restarting it will not be easy, even when the war is over.

What has been targeted?

Since the war started with US-Israeli strikes on Iran on February 28, at least 33 strikes or attempted strikes have targeted energy infrastructure in the Middle East, according to an AFP tally.
The United States and Israel carried out 13 of them against Iran.
The other 20, which struck seven Gulf countries, were attributed to Iran.
The strikes mostly hit oil and gas fields or complexes, such as the massive Ras Tanura refinery in Saudi Arabia, Ras Laffan gas processing base in Qatar and the complex housing the Ruwais refinery in the United Arab Emirates.
Iran has also effectively blocked the crucial Strait of Hormuz, the usual shipping lane for around 20 percent of the world's oil and liquefied natural gas output.

Why is production down?

Some infrastructure has been damaged.
Other facilities have closed or reduced activity as a precaution, such as Ruwais.
The near-closure of the strait has also had a major impact.
Gulf countries' output of oil and oil products has plunged from 30 million barrels per day last year, excluding Oman, to 20 million currently, according to the International Energy Agency (IEA).
It said the amount passing through the Strait of Hormuz had fallen to less than 10 percent of pre-war levels.
Saudi Arabia and the UAE have pipelines that can send some oil beyond the region, but their capacity is limited.
The result is storage facilities that are full to the brim.
"That's the main issue at the moment," an industry insider told AFP.
"Since there aren't enough ships to empty the storage facilities and export the product, suppliers have to stop production."
There is no easy fix, warned Pankaj Srivastava, a commodities expert at Rystad Energy.
"With crude supply increasingly stranded in the Gulf, refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets," he said.

How long to restart?

"Depending how they were shut down, (restarting refineries) can take a week or two to reach full output," said the industry insider.
For oil wells, it is simpler: "You just reopen the valve."
According to the IEA, "upstream production will take weeks and, in some cases, months, to return to pre-crisis levels", depending on the site.
And "in the absence of a full ceasefire, ship owners, charterers, insurers, and crew will need to see robust security measures" to return to the strait, such as armed escorts, it added.
It said a traffic management system may need to be created to handle the massive backlog when traffic resumes in the strait, estimating it would take "several days to weeks" to clear.
nal/dlm/abb/jhb/rl

US

Mideast war cuts Hormuz strait transit to 77 ships: maritime data firm

  • Since the start of March, 20 commercial vessels, including nine oil tankers, have been attacked or reported incidents, according to the UK Maritime Trade Operations agency.
  • Only 77 ships have so far crossed the Strait of Hormuz in March as the Mideast war disrupts one of the world's most vital shipping routes, a maritime data firm reported Friday.
  • Since the start of March, 20 commercial vessels, including nine oil tankers, have been attacked or reported incidents, according to the UK Maritime Trade Operations agency.
Only 77 ships have so far crossed the Strait of Hormuz in March as the Mideast war disrupts one of the world's most vital shipping routes, a maritime data firm reported Friday.
Lloyd's List Intelligence said most of these vessels belonged to the so-called "shadow fleet" -- ships used to skirt Western sanctions and regulations, typically linked to Russia and Iran.
They are often ageing ships in poor condition, without proper insurance and with opaque ownership.
The 77 transits recorded so far this month compare with 1,229 passages between March 1 and 11 last year, according to Lloyd's List Intelligence.
Iran's Revolutionary Guards have all but closed the Strait of Hormuz, which borders Iran and through which 20 percent of global oil supplies pass.
Since the start of March, 20 commercial vessels, including nine oil tankers, have been attacked or reported incidents, according to the UK Maritime Trade Operations agency.
Meanwhile, the International Maritime Organization has confirmed 16 incidents in the area, including eight involving oil tankers.
Iran's new supreme leader Mojtaba Khamenei said on Thursday that "the lever of blocking the Strait of Hormuz must definitely be used."
The strategy is aimed at harming the global economy in order to exert pressure on the United States. 
"Over half of the tankers and gas carriers going through are shadow fleets," said Bridget Diakun, a senior analyst at Lloyd's List Intelligence.
"These ships are really used to disruptions," so are more likely to attempt the passage, she added.
According to the firm, vessels affiliated with Iran account for 26 percent of passages through Hormuz, followed by Greece with 13 percent and China with 12 percent.
"The main takeaway here is that... Iran is still exporting," Diakun said.
Separately, AFP counted around 40 vessels that have crossed the Strait of Hormuz since the start of the conflict, considering only those that kept their AIS transponder -- the automatic identification system -- switched on.
bur/ajb/jkb/rl

US

How will US oil sanctions waiver help Russia?

  • The Kremlin welcomed the decision by urging the United States to go further, with economic envoy Kirill Dmitriev saying the lifting of more sanctions looked "inevitable" given the volatility of the global energy market.
  • The United States has eased some restrictions on Russia's oil sales as it tries to stabilise global energy markets, upended by Iran blocking the Strait of Hormuz amid the war in the Middle East. 
  • The Kremlin welcomed the decision by urging the United States to go further, with economic envoy Kirill Dmitriev saying the lifting of more sanctions looked "inevitable" given the volatility of the global energy market.
The United States has eased some restrictions on Russia's oil sales as it tries to stabilise global energy markets, upended by Iran blocking the Strait of Hormuz amid the war in the Middle East. 
Will the US sanctions waiver deliver a major windfall for Moscow?

Symbolic importance

The US waiver allows countries to buy Russian oil that is currently at sea until April 11.
Given the short-term nature and technical limitations, it will not provide a huge immediate windfall to Russia, though nonetheless benefits Moscow, Kpler analyst Muyu Xu told AFP. 
"The measure mainly allows Russian barrels already in transit to complete voyages and discharge," she said in a note, calling it a "wind-down, not reopening." 
Announcing the sanctions relief, US Treasury Secretary Scott Bessent said the move would not provide "significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction."
Kpler suggests around 120 million barrels of Russian crude may be at sea at the moment.
That represents around two weeks of Russia's total oil output.
But Muyu Xu from Kpler said most of that had already been pre-ordered by Chinese or Indian clients, limiting the immediate bump in orders.
Washington had last week given a similar waiver to New Delhi, which "gave Indian refiners a big advantage to snap up the cargo," she said.
The waiver may carry more symbolic than financial weight for Moscow.
"It's a gift to Russia in terms of sanctions," said Richard Meade, editor-in-chief of Lloyd's List Intelligence, a maritime data company.
Media reports suggested that Japan, Thailand and the Philippines were considering buying Russian crude following the US decision.
But Kpler's Muyu Xu said some countries might still have concerns as the EU and UK sanctions still remain in place. 
"It's not crystal clear that everybody is free to buy ... It's not as easy as Trump just opened the tap and then the oil will naturally flow to the rest of the world."
The Kremlin welcomed the decision by urging the United States to go further, with economic envoy Kirill Dmitriev saying the lifting of more sanctions looked "inevitable" given the volatility of the global energy market.
Russian President Vladimir Putin earlier this week offered to supply oil to Europe should it reverse on sanctions, but only on a "long-term" basis and "free from political pressure."

Tens of billions

Beyond the US waiver, the general surge in oil prices since the start of the war in the Middle East has helped to replenish Russia's coffers, depleted by more than four years of war against Ukraine and international sanctions.
Russia's ESPO blend, typically purchased by China and India, is trading $30-40 higher per barrel than before the conflict.
Every extra $10 per barrel brings an additional $1.6 billion a month in tax revenues for the Russian government, Sergey Vakulenko from Carnegie Endowment estimated. 
If "it rose by $40 and held that level for six months, this would mean an extra $38 billion," he said in a post on Telegram.
That would be enough to cover most of Russia's 2025 deficit, which came in at around $50 billion.
Russia has posted a budget deficit in every year since it ordered troops into Ukraine and expects to do so again in 2026.
Oil-and-gas revenues -- roughly one-fifth of Russia's state income -- were running at a five-year low at the start of the year, hit by sanctions, production issues and Ukrainian attacks on energy facilities. 
The measures, aimed at widening supply to push down prices, are a "godsend for Russia's shadow fleet," said Lloyd's analyst Bridget Diakun, referring to the opaque sanctions-busting tankers used by Russia.    
"Russia can make a lot of money because it's given a pass," she added during a webinar.

Outcry from Ukraine and Europe

Ukrainian President Volodymyr Zelensky said the US sanctions relief "certainly does not help peace." 
Europe, which has not eased its sanctions on Russian oil, also pushed back.
French President Emmanuel Macron said that the Strait of Hormuz's shutdown "in no way" justified lifting the sanctions on Russia.
Britain said "all partners should maintain pressure on Russia and its war chest", while German Chancellor Friedrich Merz said that "easing sanctions now, for whatever reason, is wrong."
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