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President Donald Trump declared the US is not rushing into an agreement with Iran, dampening prospects for a near-term breakthrough in the three-month-old conflict. The US naval blockade remains in full force until a deal is signed, Trump said, as Iranian media pointed to unresolved differences on key issues.
Despite the Trump administration's public assurances of sufficient stockpiles, new analysis and data reveal that the U.S. has heavily depleted key defensive and offensive missiles during military operations in Iran, with replenishment potentially taking years and affecting future war plans. Reports indicate over 200 THAAD and 100 SM-3/SM-6 missiles were used, consuming more than half of pre-war reserves for four strategic types. Experts warn this strains U.S. deterrence globally and capacity to aid allies.
Analysts warn that an Iran war would generate four waves of global crisis, starting with energy and food price spikes, followed by structural trade disruption, severe economic damage to developing nations, and political instability that could topple governments. The article calls for emergency measures including a regional food and fertilizer reserve and IMF reform.
A war with Iran could drive up U.S. mortgage, loan, and credit rates as geopolitical turmoil roils global financial markets. Al Jazeera's 'Counting the Cost' examines the economic fallout from escalating Middle East tensions.
President Donald Trump vowed to ‘split’ Russia and China but his policies have repeated predecessors’ mistakes, unwittingly cementing the Beijing-Moscow alliance. The Iran war, trade disputes and shared distrust of the West have driven the two powers closer together, with trade surging and energy deals expanding.
A two-day BRICS foreign ministers' meeting in New Delhi ended without a joint statement due to deep divisions over the Iran war. Iran sought condemnation of the US and Israel, while Gulf members criticized Tehran's attacks on the UAE. The group did reach consensus on other issues, including reform of global institutions and the need for a unified Palestinian state.
India, the world's third-largest oil importer, has raised fuel prices by about 3% and announced austerity measures after the Iran war and closure of the Strait of Hormuz disrupted global energy supplies. Prime Minister Modi urged citizens to conserve fuel as a 'patriotic' duty, while opposition leaders criticized the timing of the hike after state elections ended.
US President Donald Trump said he and Chinese President Xi Jinping have 'very similar views' on ending the war in Iran. The statement comes amid ongoing Middle East tensions and potential US-China diplomatic cooperation on the conflict. No official response from China has been reported yet.
Major Asian LNG importers Japan and South Korea have ramped up coal-fired power generation in April and early May, as the Iran conflict disrupts supply and drives up LNG prices. The shift to coal eases energy pressure but raises environmental concerns.
