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World Economy Mar 23, 2026

Cuba Overcomes 29-Hour Nationwide Blackout Amid US Oil Blockade

Cuba has restored its power grid and brought online its largest oil-fired power plant, ending a 29-…
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.
#power #cuba #grid
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World Economy Mar 23, 2026

Asian Markets Plunge as Trump Issues Ultimatum to Iran

Asian stock markets have plummeted following US President Donald Trump's ultimatum to Iran, warning…
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.
#percent #trump #iran
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News Mar 23, 2026

Iraq Becomes Battleground as US Targets Iran-Aligned Groups

The US has carried out airstrikes against Iran-aligned groups in Iraq, including the Popular Mobili…
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.
#iraq #iran #israel
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News Mar 23, 2026

Trump's FCC Threatens to Revoke Licenses Over Iran War Coverage

The Trump administration's FCC Chairman Brendan Carr has threatened to revoke broadcast licenses of…
The Trump administration has taken a significant step in its efforts to transform free speech rights, with the Federal Communications Commission (FCC) Chairman Brendan Carr threatening to revoke the licenses of broadcasters that cover the Iran war in a way deemed 'hoaxes and news distortions'.Carr's statement, which was a response to Trump's criticism of US news coverage of the war, was cheered by the president, who said he was 'thrilled' to see Carr investigating 'Corrupt and Highly Unpatriotic 'News' Organizations'. This move is seen as one of the most extreme examples of the Trump administration's approach to free speech.Free speech advocates argue that the FCC's actions are a threat to constitutionally protected speech rights, and that the commission is overstepping its authority. The FCC's efforts to control media narratives are part of a broader shift in the US media landscape, where beleaguered companies are increasingly eyeing new business deals and mergers.The Trump administration's approach to free speech has been multi-pronged, using immigration law to target individuals for their speech, and pursuing a largely-defunct effort to punish law firms that employed Trump's perceived political enemies.Critics argue that the FCC's threats have come amid a broader shift in the US media landscape, where media owners are trying to make deals and exert pressure on people below them to make sure they're not overly adversarial towards the Trump administration.
#trump #media #administration
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News Mar 23, 2026

Trump Mocks Starmer with SNL Skit as US-UK Tensions Rise Over Iran War

US President Donald Trump shared a satirical video mocking UK Prime Minister Keir Starmer's relucta…
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.
#starmer #trump #iran
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News Mar 23, 2026

Trump Pauses Military Strikes on Iran, Signals Potential Diplomatic Breakthrough in Middle East Conflict

US President Donald Trump has announced a five-day pause on military strikes against Iranian energy…
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.
#iran #trump #war
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World Economy Mar 23, 2026

Iran War Enters Critical 24th Day: Escalation, Market Fallout, and Rising Casualties

As the US-Israel military campaign against Iran enters its 24th day, a critical deadline for the St…
The military campaign launched by the United States and Israel against Iran has entered its 24th day, bringing the region to a precarious juncture. As US President Donald Trump’s 48-hour ultimatum for Iran to reopen the Strait of Hormuz approaches its expiration at 23:44 GMT on Monday, Tehran has issued stern warnings regarding the potential targeting of its electricity grid. In response, Iran has vowed to strike the energy and water systems of its Gulf neighbors, raising fears of a broader regional energy crisis.The conflict is already having tangible repercussions on the global economy. Financial markets are reacting sharply to the escalating tensions, with stocks in China and Hong Kong on track for their worst performance in nearly a year. The uncertainty has fueled stagflation fears, prompting UK Prime Minister Keir Starmer to convene an emergency meeting to address the mounting economic fallout.In Iran, the situation remains volatile. The Israeli military has conducted a wide-scale wave of strikes targeting infrastructure across Tehran, resulting in powerful explosions reported in the central, southern, and eastern parts of the capital. Verified footage shows massive columns of fire and smoke rising over Karaj following an air attack. The Iranian Revolutionary Guard Corps (IRGC) has retaliated by threatening attacks on power plants in Israel and those supplying electricity to US bases, while also targeting a turbine engine production site in Qom used for drone components.The conflict has also spilled over into Gulf Cooperation Council (GCC) nations. Saudi Arabia’s Ministry of Defence confirmed that two ballistic missiles were launched toward Riyadh, with one intercepted and the other falling in an uninhabited area. The UAE reported debris injuries in the al-Shawamekh area, while Bahrain confirmed attacks on the US Fifth Fleet. In Qatar, seven people were killed in a helicopter crash, and Kuwait has formally protested airspace violations to the International Civil Aviation Organization.The human toll continues to rise. In Israel, alerts were triggered across Jerusalem and central Israel following explosions, with the casualty toll from attacks on Dimona and Arad climbing to at least 180 injured. In Lebanon, authorities report that at least 1,029 people have been killed since March 2, with over 100 of the victims being children. In Iraq, at least 60 people have been killed, primarily among pro-Iran Popular Mobilisation Forces.
#iran #killed #war
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News Mar 23, 2026

Iran Claims to Have Downed US F-35 Fighter Jet, Challenging Its 'Unkillable' Reputation

Iran claims to have downed a US F-35 fighter jet during a combat mission, marking a significant dev…
Iran has reportedly claimed to have downed a US F-35 fighter jet during a combat mission, a development that could challenge the aircraft's reputation as 'unkillable'. According to sources familiar with the matter, the incident occurred last week when the F-35 made an emergency landing at an airbase in the Middle East. The Iranian Islamic Revolutionary Guard Corps issued a statement saying it had targeted a US aircraft, and Iran's semiofficial Tasnim news agency released military footage purporting to show Tehran's air defence systems hitting a US F-35 stealth fighter. The F-35, manufactured by Lockheed Martin, is considered the cornerstone of Washington's aerial firepower, boasting advanced stealth technology, sensors, and high-speed computing. Its ability to gather and share data from a 360-degree camera suite and other sensors makes it a formidable asset in modern warfare. If confirmed, this would be the first time an F-35 has been struck by Iran during the ongoing conflict. Defence experts emphasize that even if the claims are true, it does not necessarily mean stealth technology is becoming obsolete, but rather that even advanced aircraft like the F-35 are not invulnerable in a dense, adaptive air-defence environment. The incident is under investigation, with the US military's Central Command stating that the pilot was in stable condition after the emergency landing. The US has not yet confirmed that the F-35 was hit by Iranian fire, with President Donald Trump stating, “We’re flying wherever we want. Nobody is even shooting at us.” This development comes amid heightened tensions between the US and Iran, with at least 13 US service members killed and roughly 200 wounded during combat operations against Iran. In Iran, at least 1,444 people have been killed and 18,551 injured since the start of the conflict.
#iran #fighter #aircraft
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News Mar 23, 2026

Israel and US Launch Extensive Strikes Across Iran Amid Escalating Conflict

Israel and the US have carried out extensive strikes across Iran, targeting infrastructure and resi…
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.
#iran #israel #strikes
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