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Iran war live updates: Israel strengthens its forces in southern Lebanon; drones strike the U.S. embassy in Riyadh as oil prices and the dollar rise
20 minutes ago
UAE asserts its right to defend itself
Reem Al Hashimy, the UAE’s Minister of State for International Cooperation, arrived in Abu Dhabi for the second day of the BRICS Foreign Ministers meeting in Rio de Janeiro on April 29, 2025. (Photo by Pablo Porci_uncula / AFP) (Photo by PABLO PORCIUNCULA/AFP via Getty Images)
Pablo Porciuncula | Afp | Getty Images
The UAE reiterated its entitlement to self-defense on Tuesday, stressing that any threat to Emirati sovereignty constitutes a threat to the broader Gulf region.
Hashimy stated at a news conference in Abu Dhabi that the Gulf Cooperation Council functions as a single system, and that an attack on any member nation jeopardizes the entire region.
All six GCC members—Kuwait, Bahrain, Saudi Arabia, Qatar, Oman, and the United Arab Emirates—have faced Iranian missiles and drones since Saturday.
Hashimy added that the UAE will not tolerate actions that undermine its sovereignty or security, warning that such escalations carry global consequences. She emphasized that the UAE retains full right to defend itself and stands in solidarity with GCC partners in countering regional threats.
- Emma Graham
1 hour ago
Zelenskyy says Ukraine will assist UAE in protecting lives
Ukraine’s President Volodymyr Zelenskyy said his country will explore ways to help the United Arab Emirates safeguard itself from Iranian attacks.
Zelenskyy’s remarks come as the UAE has endured missile and drone strikes amid Iran’s retaliation to U.S. and Israeli actions that began on Saturday.
Amazon Web Services said late Monday that two data centers in the United Arab Emirates and a facility in Bahrain were damaged by drone strikes, taking those facilities offline. Other UAE facilities and infrastructure were also affected.
Zelenskyy noted that he discussed the situation with UAE President Mohamed bin Zayed Al Nahyan, and he expressed condolences for lives lost to Iran’s attacks. He underscored that the Iranian regime is targeting not only military sites but also civilian structures such as residential buildings, shopping centers, and even mosques. He said they would work together to protect lives, calling protecting lives a global priority.
-- Azhar Sukri
3 hours ago
Israel claims it has dismantled the Iranian regime’s leadership compound
The Israeli Defense Forces announced that it had dismantled the leadership compound of the Iranian regime and killed its leaders. The command headquarters, described as among the regime’s most secure assets, housed its top leadership forum and was struck overnight by the Israeli air force using precise intelligence, according to an IDF post on X.
-- Azhar Sukri
3 hours ago
Dollar climbs as global risk appetite sinks
The U.S. dollar edged higher on Tuesday morning, extending gains from the previous day as investors weighed the implications and duration of the U.S.-Iran conflict.
As the war entered its fourth day, the U.S. dollar index (which tracks the greenback against a basket of major currencies) was nearly 1% higher.
A broad de-dollarization trend had pressured the dollar over the past year, with the index down more than 7% over 12 months. Traditionally, the dollar has been viewed as a stable asset, particularly during times of stress.
Strategists at Mizuho EMEA noted that a shock to terms of trade could snap the de-dollarization trend back, as buyers rush to USD liquidity to settle settlements in USD and hedge positions, especially for energy purchases, now that the U.S. is a net exporter.
— Chloe Taylor
3 hours ago
Putin seeks to defuse Middle East tensions, Kremlin says
Russian President Vladimir Putin is attempting to reduce tensions in the Middle East, according to the Kremlin. A Kremlin spokesperson said Putin would make every effort to ease tensions even modestly, and that he would urge Iranian colleagues to consider striking a more measured approach after discussions with various interlocutors. This marked the first public Kremlin acknowledgement of the U.S. and Israeli strikes on Iran following four days of strikes on Iranian leadership and military sites. Analysts say Russia and China are unlikely to rush to Iran’s aid despite strategic partnerships.
Read more here: Why Iran should not count on allies Russia and China to assist (CNBC)
— Holly Ellyatt
4 hours ago
Oil prices spike
Dado Ruvic | Reuters
Oil prices rose as missiles continued to strike across the Middle East and Iran reportedly closed the Strait of Hormuz, a critical artery for global oil shipments. At 5:00 a.m. ET, Brent crude futures surged about 5.4% to roughly $81.96 per barrel, a one-year high after a more than 7% gain on Monday. Front-month WTI traded about 5.8% higher near $75.55 per barrel, near their highest since mid-2025.
— Chloe Taylor
4 hours ago
Oil supertanker rates hit record highs as Iran pledges to close Hormuz
Iranian and Russian naval forces simulated the rescue of a hijacked vessel near the Strait of Hormuz in Bandar Abbas, Iran, on February 19, 2026. Anadolu | Getty Images
The cost of transporting crude from the Middle East to China has jumped to record levels as the U.S.-Israel conflict expands across the region. The benchmark freight rate for Very Large Crude Carriers (VLCCs) rose to $423,736 per day, up more than 94% from the previous session, according to LSEG data. This surge comes amid growing fears of prolonged disruption to global trade as shipping traffic declines around the Strait of Hormuz.
For more, read: Oil supertanker rates hit all-time high as Iran pledges to close Hormuz (CNBC)
— Sam Meredith
4 hours ago
European stocks slide as Middle East conflict deepens
European markets fell sharply on Tuesday, with the ongoing Middle East conflict dampening global investor sentiment. By 9:35 a.m. London time (4:35 a.m. ET), the Stoxx 600 was down about 2.7% after Monday’s losses. Banks, insurers, and miners led the declines, and even the Stoxx Aerospace and Defense index shed roughly 2.5% after closing Monday in positive territory.
— Chloe Taylor
6 hours ago
Israel deploys more troops to southern Lebanon
Smoke rises from Beirut’s southern suburbs after Israeli airstrikes, March 3, 2026. (Photo by Ibrahim Amro / AFP via Getty Images)
The Israeli military said it has dispatched additional forces to southern Lebanon to safeguard Israeli residents near the border. An IDF spokesperson stated that Israel is creating an extra layer of security for northern residents by targeting Hezbollah infrastructure to prevent threats and infiltration. Defense Minister Israel Katz and Prime Minister Benjamin Netanyahu reportedly authorized the expansion of control areas in Lebanon to preempt attacks on border settlements. Katz added that the IDF will continue operating against Hezbollah targets in Lebanon.
— Lim Hui Jie
7 hours ago
South Korean defense stocks surge on Iran war
South Korea’s stock market rallied in anticipation of increased defense spending amid the Iran crisis. Hanwha Aerospace jumped nearly 25% before pulling back to about a 20% gain, Korea Aerospace Industries rose over 12% before trimming gains, and LIG Nex1 surged about 30%.
— Lim Hui Jie
7 hours ago
U.S. State Department orders evacuations of personnel from three more countries
The U.S. State Department issued evacuation orders for non-emergency U.S. government personnel and their families in Bahrain, Iraq, and Jordan due to security concerns. Bahrain and Jordan are at travel risk level 3, while Iraq is at level 4. This follows reported retaliatory strikes on U.S. bases in Bahrain and drone attacks on hotels housing U.S. troops in Iraq.
— Lim Hui Jie
8 hours ago
Iran’s supreme leader successor appointment may not take long: Iranian media
ISNA reported that a member of Iran’s Assembly of Experts suggested that appointing a successor to Ayatollah Ali Khamenei would not take long. The assembly, consisting of 88 clerics elected by the public every eight years, vets candidates through the Guardian Council. When the position is vacant, the Assembly convenes to select a successor by simple majority. In the interim, a provisional three-member leadership council will assume duties until a formal appointment is made.
— Lee Ying Shan
8 hours ago
Israel says it is conducting simultaneous targeted strikes on Tehran and Beirut
Footage from AFPTV shows smoke rising after Israeli strikes on the outskirts of Beirut. The IDF announced it was conducting simultaneous targeted strikes on military targets in Tehran and Beirut in a post on X. The U.S.-Israel confrontation with Iran has expanded to include Lebanon after Hezbollah missiles and drones were fired into Israel.
— Anniek Bao
8 hours ago
Hormuz Strait blockade consequences
An infographic in Ankara, Turkey, outlines the potential impact of Hormuz closure on February 28, 2026. The Hormuz closure would hit global energy markets hardest in Asia, with oil potentially surpassing $100 per barrel and roughly 20% of global LNG exports at risk. Nomura warned that Asia would be most vulnerable due to high import dependence, while energy exporters in Malaysia could benefit. Read more in CNBC’s global impact analysis.
— Lee Ying Shan
9 hours ago
Trump touts near-limitless U.S. munitions; UAE and Qatar deny shortages
President Donald Trump claimed the United States has a virtually unlimited supply of munitions as the Iran conflict escalates, asserting large stockpiles remain available. UAE and Qatar denied reports of Patriot missile shortages, stating they are well-prepared and fully capable. The UAE Ministry of Foreign Affairs described the reports as unfounded, while Qatar’s International Media Office affirmed a robust stockpile of Patriot interceptors.
— Victor Loh
11 hours ago
Amazon says drone strikes damaged three data centers in UAE and Bahrain
Amazon Web Services confirmed that three Middle East data centers were damaged by drone strikes, taking two UAE facilities offline and injuring a Bahrain site’s infrastructure. AWS advised customers to consider migrating workloads to other regions due to continued regional instability and anticipated a prolonged recovery.
— Annie Palmer
12 hours ago
Trump says U.S. response to attack on its embassy will be revealed soon
President Donald Trump told NewsNation that Washington’s response to the Riyadh embassy attack and the deaths of American personnel would be disclosed soon, and suggested that boots on the ground would not be necessary. Saudi Arabia’s defense ministry earlier reported that the U.S. embassy in Riyadh was hit by drones, causing a small fire and minor damage.
— Vinay Dwivedi
13 hours ago
U.S. embassy in Riyadh attacked by drones, causing limited fire and no injuries reported
The U.S. Embassy in Riyadh was hit by two drones, resulting in a limited fire and minor damage, according to Saudi defense authorities. The U.S. Embassy has warned American citizens in Jeddah, Riyadh, and Dhahran to shelter in place and limit travel to military installations in the region.
— Anniek Bao
