Palestine
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Drone strike sparks fire at UAE's Barakah nuclear plant as IAEA voices concern
A drone strike has sparked a fire on the perimeter of the UAE's Barakah nuclear power plant, prompting the IAEA to express "grave concern", though authorities said radiation levels remain normal and operations were unaffected.
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COMMENT: The Oslo playbook returns to the Middle East
Norway has become the only NATO country still talking to Tehran. It is doing so for reasons that are partly diplomatic, partly mercantile, and with echos of the original Oslo accord of the 1990s.
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Iran's digital economy loses up to IRR7 quadrillion in 70 days of internet disruption
Iran's digital economy has suffered losses of between IRR3 quadrillion and IRR7 quadrillion ($1.66bn to $3.88bn) over roughly 70 days of internet disruption.
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Saudi Arabia floats non-aggression pact with Iran modelled on Helsinki accords
Saudi Arabia is discussing with allies a non-aggression pact between Middle Eastern states and Iran, modelled on the 1975 Helsinki Final Act.
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Iran defends seizure of US tankers as legal under international law
Iran's judiciary has defended the seizure of American oil tankers in Iranian waters as legitimate under domestic law and the 1982 UN Convention on the Law of the Sea, judiciary spokesman Asghar Jahangir said on May 14.
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Iraqi hackers claim cyber attacks on US tech giants eBay and Spotify
A pro-Iran hacking group calling itself Team 313 has claimed responsibility for cyber attacks on eBay and Spotify, causing millions in losses.
Iran claims anti-radiation missiles blinded US destroyers in Hormuz during Operation Project Freedom clash
Claim and counter claim are flying between Washington and Tehran about what happened during the 48 hours that Operation Project Freedom was in effect. Iranian state media claims it used a sophisticated anti-radar missile to blind three US warships.
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Iran's Pezeshkian backs negotiated end to war with US
Iranian President Masoud Pezeshkian has said the country should consolidate its battlefield gains through negotiations with the US.
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Is the UAE breaking away?
The UAE has left OPEC, lost a proxy war with Saudi Arabia in Yemen, armed a militia accused of genocide in Sudan, recognised Somaliland alongside Israel, and welcomed an Iron Dome battery onto its soil.
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Fitch raises 2026-27 oil and gas price assumptions on prolonged Hormuz closure
Fitch Ratings has raised its 2026-2027 oil and gas price assumptions on a longer Strait of Hormuz closure, assuming reopening around July, with Brent expected at USD100-110 per barrel through July before falling to USD70 by September.
Qatar resumes LNG shipments through Strait of Hormuz after 70-day wartime halt
Qatar has sent its first liquefied natural gas cargo through the Strait of Hormuz since the outbreak of the Iran war in late February, marking a tentative resumption of energy exports through the strait.
The Iran war exposes fiscal fragility around the world
The Iran war has arrived at the worst possible fiscal moment for most of the world's major economies. Governments spent heavily on Covid, defence and two energy crises. Fiscal space across most of the developed world is limited or exhausted.
US strikes Iran after destroyers come under fire in Hormuz, Project Freedom collapses
The fragile ceasefire between the United States and Iran came under its most severe test yet on May 8 as Iranian forces launched missiles, drones and fast-attack boats against three US Navy destroyers transiting the Strait of Hormuz.
Beijing becomes the chessboard as Iran pre-empts Trump-Xi summit
Araghchi's pre-emptive trip to Beijing, 14 days before Trump meets Xi, has put Iran's interests on the table before Washington can carve them off.
Russia’s oil revenues rebound on Middle East conflict price hike, but gains are modest
Russia’s oil and gas revenues rebounded sharply in April as surging crude prices linked to conflict in the Middle East boosted export earnings, offering the Kremlin temporary relief after months of mounting fiscal pressure.
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Saudi Arabia denied US access to bases, forcing Trump to halt Strait of Hormuz operation
Saudi Arabia denied the US military access to Prince Sultan Airbase and Saudi airspace, forcing President Donald Trump to halt his "Project Freedom" Strait of Hormuz operation within 36 hours of its launch
Europe’s Russian Arctic LNG imports from Yamal hit record high in first four months of 2026
The EU imported more Russian Arctic liquefied natural gas in the first four months of 2026 than in any equivalent period since the Yamal LNG project began exporting in 2017, according to new analysis of Kpler shipping data.
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Iran rejects US Hormuz resolution as Trump warns of intensified bombing if no deal reached
Iran has rejected a US-led UN Security Council draft resolution on the Strait of Hormuz as President Pezeshkian told French counterpart Macron that Washington's behaviour had derailed diplomacy.
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Iran has not yet replied to latest US proposal, contradicting Trump
An Iranian source has said that Tehran has not yet responded to the latest US proposal to end the war, contradicting US reports that the White House believes a one-page 14-point memorandum is close.
ECB warns Iran war energy shock could force rate adjustment
ECB Executive Board member Piero Cipollone warned the eurozone may need to adjust interest rates as the Iran war energy shock pushes inflation to 3% and oil supply losses outstrip the 1973, 1979 and 2022 crises combined.