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US President Donald Trump has ordered a pause in attacks on Iran's power infrastructure for five days. The move comes after Trump issued a 48-hour ultimatum to Iran to reopen the critical shipping route through the Strait of Hormuz or risk US attacks on its power plants.Iran's Response to US Ultimatum: Iran threatened to attack power plants in Israel and the Gulf if its own power plants were targeted. The Islamic Revolutionary Guard Corps (IRGC) stated that it would hit power plants in Israel as well as any supplying electricity to military bases hosting US troops and assets in the region.Potential Targets: Iran could target Israeli power plants, including Orot Rabin north of Tel Aviv, with a capacity of around 3,900 megawatts, and Rutenberg in Ashkelon, with a capacity of around 2,250 megawatts. Iran also mentioned that it would target financial entities that finance US military assets, including US Treasury bonds.Energy Infrastructure: Iran's attacks on energy infrastructure in the Gulf have already had significant impacts. Qatar's state-run energy firm, QatarEnergy, halted LNG production following Iranian attacks on its operational facilities, causing an estimated $20bn in lost annual revenue. Saudi Arabia also shut down operations at the Ras Tanura plant, its biggest domestic oil refinery.Financial and Corporate Entities: Iran could target large US companies with Israeli links, including Google, Microsoft, Palantir, IBM, Nvidia, and Oracle. Iranian officials also mentioned that they would target US Treasury bonds and entities that finance US military assets.Other Critical Infrastructure: Iran's foreign minister accused the US of striking a desalination plant on Qeshm Island off the coast of Iran, cutting off the water supply to 30 villages. Bahrain also reported that an Iranian drone caused material damage to one of its desalination plants.

Cuba has successfully restored its power grid and brought its largest oil-fired power plant back online, ending a 29-hour nationwide blackout that affected the country's 10 million people. The blackout, which began on Monday, was caused by a combination of factors, including a US oil blockade that has severely impacted Cuba's fuel supply.The country's national power grid had fully come back online by 6:11 pm (22:11 GMT) on Tuesday. However, officials have warned that power shortages may continue due to insufficient electricity generation. The Antonio Guiteras power plant, a decades-old facility that underpins the country's power grid, was successfully fired up by midday on Tuesday.The US oil blockade, imposed by President Donald Trump, has had a significant impact on Cuba's economy and daily life. The blockade has restricted Cuba's access to oil imports, leading to dire fuel shortages and antiquated power plants struggling to meet demand. As a result, most Cubans, including those in Havana, have been experiencing 16 or more hours of blackout daily even before the latest grid collapse.The situation has led to heightened tensions between Cuba and the US, with Cuban President Miguel Diaz-Canel criticizing the US's "almost daily public threats against Cuba." The US State Department has blamed the Cuban government for the grid collapse, calling blackouts a "symptom of the failing regime's incompetence." Despite the challenges, Cubans have shown resilience, with many residents staying calm and adapting to the difficult circumstances.Cuba and the US have opened talks aimed at defusing the crisis, which is among the most acute since 1959. However, neither side has provided details of the ongoing negotiations. The situation remains a significant challenge for both countries, with the Cuban people bearing the brunt of the impact.

Asian stock markets experienced a significant downturn on Monday, with South Korea's KOSPI index plummeting 6.5% and Japan's Nikkei 225 falling 3.5%. The Hang Seng Index in Hong Kong tumbled more than 4%, while Australia's ASX 200 closed 0.75% lower and New Zealand's NZX 50 was down 0.7%.The turmoil was triggered by US President Donald Trump's ultimatum to Iran, warning the country to reopen the Strait of Hormuz or face the destruction of its energy infrastructure within 48 hours. The strait is a critical waterway through which about one-fifth of global oil and natural gas exports usually transit.Trump's threat has added to fears of a cascading global energy crisis as the US and Israel's war on Iran approaches its one-month mark with no clear end in sight. Oil prices have surged more than 50% since the start of the war, which began on February 28. Analysts warn that energy prices are likely to rise significantly further if the strait remains effectively closed, with some predicting oil to hit $150 or even $200 a barrel.In response to Trump's ultimatum, Tehran has warned it will completely close the waterway and launch retaliatory attacks on energy and water infrastructure across the region if Trump follows through on his threat. The deadline for Trump's ultimatum is set to expire at 23:44 GMT on Monday.European markets also saw significant losses, with London's FTSE 100 down 1.4% and the DAX 40 in Frankfurt falling about 2% in morning trading. On Wall Street, US stocks saw significant losses ahead of Monday's opening, with futures tied to the S&P; 500 down about 0.8% as of 07:00 GMT.

The world is currently experiencing a severe energy crisis, surpassing the combined impact of the 1970s oil shocks and the Ukraine war, according to Fatih Birol, Executive Director of the International Energy Agency (IEA). Speaking at a media event in Australia, Birol warned that the energy crunch prompted by the US-Israel war on Iran has exceeded the 1973 and 1979 oil shocks and gas shortages stemming from Russia's 2022 invasion of Ukraine.Birol stated that the crisis is equivalent to two oil crises and one gas crash combined. He noted that the effective closure of the Strait of Hormuz and attacks on energy facilities have reduced global oil supplies by about 11 million barrels per day (bpd), more than double the combined shortfalls of the 1970s crises. Additionally, liquefied natural gas (LNG) supplies have been reduced by about 140 billion cubic meters, compared to a shortfall of 75bcm in the aftermath of Ukraine's invasion by Russia.At least 40 energy facilities across nine countries have been severely damaged in the conflict, according to the IEA chief. Birol emphasized that the global economy is facing a major threat and expressed hope that the issue will be resolved soon.Birol also expressed concern that the scale of the crisis had not been fully understood, which prompted him to speak publicly about the situation. The IEA has proposed measures to reduce energy consumption, including facilitating remote working and carpooling, and lowering speed limits on motorways.The IEA chief is in consultation with different countries about releasing more strategic oil reserves if needed. However, he emphasized that the single most important solution to the crisis is to unblock the Strait of Hormuz, which usually carries about one-fifth of global oil and LNG supplies.

The conflict in the region has intensified, with Iraq becoming a two-way battlefield between armed factions and the United States during its war with Iran. The US carried out strikes against the Shia paramilitary umbrella group, also known locally as Hashed al-Shaabi, late on Sunday after attacks on a US diplomatic and logistics centre at Baghdad International Airport.The attack was carried out after Iraqi security officials said four explosions were heard near Camp Victory, a US logistics centre at the capital’s main airport. No casualties were reported as the positions were deserted.The PMF is part of Iraq’s regular armed forces and includes some pro-Iranian groups. Pro-Iran armed groups have claimed responsibility for attacks on US interests in Iraq and across the region while strikes have also targeted these groups.Economic worries also are weighing heavily after Iraq’s Ministry of Oil last week announced a case of force majeure on all oilfields developed by foreign oil companies, citing disruptions to navigation through the Strait of Hormuz, which have halted most of the country’s crude exports.“Iraq relies on that revenue,” said Nicolas Haque, a reporter from Iraq’s capital. “That’s 90 percent of its revenues, so that’s going to have an impact on people.”US President Donald Trump on Saturday threatened to attack Iran’s power plants if freedom of navigation through the Strait of Hormuz was not fully restored in 48 hours. On Monday, hours before his deadline was to expire, Trump ⁠ordered the US ⁠military to postpone ⁠strikes ⁠against the power plants for five days.

The United Kingdom has strongly condemned 'reckless Iranian threats' after reports emerged of a missile launch targeting a joint US-UK military base on the Indian Ocean island of Diego Garcia. However, Iran's Ministry of Foreign Affairs has denied any involvement in the alleged missile launch.According to US media reports, two ballistic missiles were fired at the base, with one reportedly failing mid-flight and the other intercepted by a US warship. The incident occurred approximately 4,000km (2,500 miles) from Iran, raising concerns about Iran's missile capabilities.Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, described the missile launches as a 'false flag' operation, suggesting that Israel might have been behind them. This denial comes as the conflict between Iran, the US, and Israel continues to escalate.The UK has condemned the alleged attack, with Foreign Secretary Yvette Cooper stating that the UK would not be drawn into a wider conflict in the Middle East. The UK's Prime Minister, Keir Starmer, noted that the UK would not use a base in Cyprus for Iran-related operations.Israel's military chief, Eyal Zamir, claimed that Iran used 'a two-stage intercontinental ballistic missile with a range of 4,000km' to target the US-UK base. Zamir stated that these missiles pose a threat to European capitals, including Berlin, Paris, and Rome.The incident has significant implications for the ongoing conflict in the Middle East, with analysts suggesting that Iran's missile capabilities could change the calculus of the war for the US and its allies. The conflict has already led to a rise in global oil prices and increased tensions between the US, Israel, and Iran.

US President Donald Trump has taken to social media to mock UK Prime Minister Keir Starmer, sharing a Saturday Night Live (SNL) skit that depicts Starmer panicking at the prospect of a call with Trump. The skit, which aired on the premiere of the new British version of SNL, shows Starmer, played by George Fouracres, trying to avoid a call with Trump.The video was shared on the same evening that Trump and Starmer spoke about the escalating tensions in the Middle East and the US-Israel war on Iran. During their call, the two leaders focused on the need to reopen the Strait of Hormuz, which has been effectively blocked by Iran since the US and Israel launched strikes on February 28.The closure of the strait has sent oil prices soaring, creating the biggest energy crisis since the 1970s. Trump has repeatedly criticized Starmer for not doing enough to support the US efforts to break the blockade, accusing him of being a 'coward' and saying he is 'disappointed' in him.Starmer has asserted that any attempt to reopen the Strait of Hormuz needs careful consideration and a viable plan, and that his number one priority is to protect British interests and de-escalate tensions. The UK government has given authorization for the US to use its military bases to carry out strikes on Iranian missile sites that were attacking ships in the Strait of Hormuz.

President Donald Trump has announced a significant diplomatic pause in the escalating conflict with Iran, instructing the US military to delay any strikes against Iranian power plants and energy infrastructure for a five-day period. The announcement comes as Trump claims both nations have reached "major points of agreement" and are seeking a "complete and total resolution" of hostilities in the Middle East.This decision follows a tense 48-hour ultimatum issued by Trump on Saturday, in which he threatened to "obliterate" Iranian power plants if Tehran did not reopen the Strait of Hormuz. The Strait is a critical global chokepoint, handling approximately one-fifth of the world's oil and liquefied natural gas; its closure has already triggered a severe global energy crisis and spiked oil prices.Speaking from Florida, Trump stated that Iran is eager to make a deal and that his envoys, including Steve Witkoff and Jared Kushner, have been engaged in talks with a "respected" Iranian leader. For a resolution to materialize, Trump asserted that Iran must relinquish its enriched uranium stockpile, and he suggested the strategic Strait of Hormuz would be reopened very soon if an agreement is reached.The prospect of de-escalation provided immediate relief to global financial markets. Wall Street stocks saw early gains on Monday, while oil prices—which had soared since the onset of hostilities—experienced a sharp decline. The easing of tensions is viewed as a potential "off-ramp" for the war, which analysts suggest may be an attempt by Trump to secure a dignified exit from the conflict.While Iran has not officially confirmed the talks, its Foreign Ministry suggested the pause is a tactical maneuver to lower energy prices. However, the Islamic Revolutionary Guard Corps warned that any attack on Iranian power plants would trigger a massive retaliation, including strikes on US bases and economic infrastructure. Analysts believe the likelihood of Iran refusing this offer is remote, as the country seeks to avoid further devastation.

Israel and the United States have launched a new wave of attacks against Iran, escalating the conflict in the region. The Israeli military confirmed that it carried out a second round of strikes, hours after initiating a wide-scale wave of attacks on infrastructure targets in Tehran. Al Jazeera Arabic's correspondent in Tehran reported that the size and volume of the explosions in the Iranian capital were unprecedented, especially on the eastern side of the city. Iranian air defense systems were activated in response to US-Israeli drones hovering over the city. According to Mohamad Elmasry of the Doha Institute for Graduate Studies, the war is escalating, with US and Israeli forces hitting not only military installations but also hospitals, schools, and over 5,000 residential units. He warned that the situation is becoming increasingly dangerous, especially for the people of Iran. Iran's Fars news agency reported that a strike on a residential building in Khorramabad killed one child and wounded several people, while at least six people were killed in strikes on homes in Tabriz city. The Iranian Red Crescent Society stated that over 80,000 civilian building units have been hit, with some fully demolished. The US military targeted a turbine engine production site in Qom province, used for drone and aircraft components linked to the Islamic Revolutionary Guard Corps (IRGC). Meanwhile, Iranian missile strikes continued overnight in Israel, with falling shrapnel reported across several locations. Iran's Foreign Ministry denied any dialogue with the US, claiming that President Trump's comments aimed to reduce energy prices and buy time to implement military plans. The IRGC warned that if the US targets Iran's power plants, it will hit power plants in areas supplying electricity to US bases and American interests. The conflict has resulted in over 1,500 deaths in Iran and 15 deaths in Israel. The situation has also unsettled oil markets, with prices fluctuating as Asian trading opened. The head of the International Energy Agency warned that the situation in the Middle East is very severe and worse than the two energy crises of the 1970s combined.