Iran, Trump suspends attacks on energy sites for ten days. Lagarde: markets too optimistic

"Our pilots, our fighters, are at this moment writing glorious chapters in the history of the State of Israle. But Tsahal is pushed to the extreme, beyond its limits," said Israel's opposition leader Yair Lapid, accusing Benjamin Netanyahu's government of dragging the country to a "security catastrophe" and leaving military forces "wounded abandoned on the battlefield". "The government sends military forces to fight a war on several fronts without a strategy, without the necessary means and with too few soldiers," he added.

"During my telephone conversation today with Israel's President Isaac Herzog, I expressed the EU's solidarity with the Israeli people in light of the continued attacks by Iran and Hezbollah. These attacks must stop immediately'. European Council President Antonio Costa wrote this on X. "In the face of the ongoing violence in the Middle East, I called for an easing of tensions and maximum restraint, the protection of civilians and civilian infrastructure, as well as full respect for international law by all parties."

Secretary of State Marco Rubio, regarding US President Donald Trump's statements today about NATO allies, noted that "the United States was probably asked to help in a war, and we contributed more than any other country in the world in a war that is happening on another continent, in Ukraine. But when the US was needed, it did not receive positive responses'.

"I think there were a couple of leaders in Europe who said that this" in Iran "was not a European war. Well, Ukraine is not America's war, yet we contributed more to that fight than any other country in the world,' Rubio specified.

The Iranian embassy in Spain signalled today that the Islamic Republic is open to 'any request' from Madrid to cross the Strait of Hormuz, calling Spain a country 'committed to international law'. The announcement, in a message poured out on the embassy's official social X site, published along with a graphic of the area and the hastag #EstrechoDeOrmuz, comes in the context of high tension in the region, with the partial blockade to maritime transit in the strategic strait, decided by Iran in response to attacks by the US and Israel, which began on 28 February. "Iran considers Spain to be a country committed to international law, so it is open to any request coming from Madrid," the post reads. Iran's new supreme leader, Mojtaba Khamenei, declared on 12 March that the strait, where about 20% of the world's oil transits, "must remain closed", although the regime applies exceptions, allowing passage to authorised ships from non-hostile countries.

The Chiefs of Staff of the Armed Forces of 35 countries met by video conference to create a coalition to help 'resume navigation in the Strait of Hormuz after the cessation of fighting'. This was announced by the French Ministry of the Armed Forces, quoted by Bfmtv. The meeting, 'organised by the Chief of Staff of the French Armed Forces, made it possible to gather the positions of countries that would like to participate in a coordinated initiative to contribute to the safety of maritime navigation in this strategic area'. The initiative is 'disconnected from the ongoing military operations in the region' and 'is part of a strictly defensive logic', the ministry specified, reiterating the position of several countries that declare themselves ready to work for the security of the strait, but do not want to be associated with the American and Israeli offensives.

'No one can dictate ultimatums to Iran and the Iranians,' Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on X today.

Referring to the 'heroic people of Iran', Ghalibaf noted that 'your presence for 25 nights in the streets and the sacrifice of the armed forces created the conditions for a historic victory for dear Iran'.

On Wall Street Right now, the Dow Jones lost 391.28 points (-0.84%), the S&P 500 lost 81.78 (-1.24%), and the Nasdaq gave up 372 points (-1.70%). Wti oil at the Nymex gained 5.16% to USD 94.98 per barrel.

"Since the beginning of this war, US soldiers have left military bases in Gulf Cooperation Council (GCC) countries to take refuge in hotels and civilian offices, effectively using citizens as 'human shields'. In the US, some hotels refuse bookings to officers deemed potentially dangerous to customers.
CGC hotels should do the same'. Thus on X the Iranian Foreign Minister, Abbas Araghchi.

The Trump administration is counting on billions of dollars of investment from Persian Gulf countries to launch the Golden Age in the United States. Butthe war in Iran is dealing the coffers of Saudi Arabia, Qatar and the United Arab Emirates a severe blow and within the administration concern is starting to grow that they will not be able to keep their promises.
According to rumours in the US media, the Gulf countries have let the White House know that they are just weeks away from having to repatriate billions in promised investments to the US and if this happens the president's economic goals could suffer.

With the war in Iran "we are facing a real shock, which probably goes beyond what we imagine at the moment": And the financial markets "are perhaps too optimistic and determined to remain optimistic, in the hope that a positive scenario will occur and return to normality in a relatively short time".
This was said by the president of the ECB, Christine Lagarde, interviewed by the Economist, explaining, with regard to the timing of a return to normality on capacity, extraction, and distribution of energy products, that 'most people are talking about years and in no case will it be within a few months'.

The death toll of the Hezbollah rocket attack in the northern Israeli city of Nahariya has risen to one dead and 14 wounded. This was reported by the Israeli rescue service, quoted by the Times of Israel. A man in his 30s died on the spot and another man in his 50s was seriously injured by the shrapnel. Another 13 people are in good condition after being hit by shrapnel or the explosion.

Iran has authorised the passage of the Strait of Hormuz for ten oil tankers as part of ongoing negotiations with the US, US President Donald Trump said at a press conference at the White House.

"We are raising the issue that Russia is helping Iran with intelligence information to target Americans and kill them". This was said by EU High Representative for Foreign Policy Kaja Kallas at a press point in Vaux-de-Cernay (France), where she is attending the G7 Foreign Ministers' meeting.

"Russia," Kallas continued, "is also supporting Iran with drones so that it can attack neighbouring countries and also US military bases. Therefore, if America wants the war in the Middle East to end and Iran to stop attacking, it should also put pressure on Russia not to help Iran in this".

'A ridiculous question': US President Donald Trump avoided answering reporters at a press conference who asked him whether the US administration had any plans to seize Iranian enriched uranium.

NATO Secretary General Mark Rutte pointed out that the European allies of the United States, along with Canada, have kept their commitment to an increased defence budget. "We have seen a 20 per cent increase in defence spending by Europe and Canada in 2025 compared to 2024," Rutte said, presenting the Alliance's annual report in The Hague. "Continuing this trend will be a priority in the coming years," he added, specifying that "for the first time, all allies have reached the target of 2% of GDP. Overall, the increase equates to about $574 billion additional, according to estimates in the annual report, which marks the second consecutive year of military investment growth.

"We don't really know if they have laid mines". Donald Trump said this about the possibility of the Iranians having mined the Strait of Hormuz. "But," he added, "we destroyed all of their 22 minelayers.

American control of Iranian oil 'is an option'. This was said by Donald Trump speaking to reporters at the White House. The US president then evoked what happened in Venezuela.

'Today we see more and more movement in and out of the Gulf'. This was said by US Treasury Secretary Scott Bessent, speaking of oil tanker traffic in the region. "It's more than yesterday and we're just at the beginning," Bessent added during the cabinet meeting at the White House.

Negotiation or ground intervention: the White House is still unclear how to resolve the Iranian crisis, and at the moment diplomatic initiatives, however indirect, seem far from guaranteeing a solution.

That indirect negotiations are indeed underway was confirmed by Pakistan's Foreign Minister, Ishaq Dar, who pointed out that the initiative enjoys the support of Turkey and Egypt - and of the Gulf countries, which, according to the Secretary General of the Gulf Cooperation Council (GCC), would indeed like to be directly involved.

Iran would be ready to deploy over a million fighters in the event of aground invasion by the United States. This is written by the semi-official Iranian news agency Tasnim, linked to the Islamic Revolutionary Guards Corps, which quotes a well-informed military source.

According to the source, there has also been a massive influx of enlistment requests from young Iranians in recent days, addressed to the centres of the Basij, the Islamic Revolutionary Guard Corps and the Army, to take part in the possible battle.

Oil prices on the rise. In London, Brent is above 100 dollars per barrel and currently gains 4.51% at 101.59 dollars. In New York the West Texas Intermediate (Wti) is at 94.10%, up 4.19%. In Amsterdam, gas is also on the rise. Ttf stood at EUR 55.33 per megawatt hour, up 4.76%.

There are 'strong indications' that Iran wants to reach an agreement. This was said by Donald Trump's special envoy Steve Witkof

US Vice President Jd Vance reiterated during a meeting of Donald Trump's cabinet that "the Iranian military has been destroyed". 

secretary of State, Marco Rubio, criticised the 'religious fanatics' who have led Tehran to be 'at war with the US for 47 years. Other presidents had had the opportunity to do something". The US diplomacy chief said that President Donald Trump "will not leave the danger" of Iran obtaining a nuclear weapon.
According to Rubio, Trump "is not only doing the US a favour but also the whole world" because "the world will be a safer place after this war is over".

"Over the past few days, Idf troops in southern Lebanon have eliminated over 30 Hezbollah "terrorists", including 10 belonging to the Radwan Force, in various operations carried out by land and air." This was reported by the Idf spokesman in a note, specifying that the ground forces "are dismantling dozens of Hezbollah infrastructure and weapons depots and will continue their forward defence activities in order to protect the inhabitants of northern Israel".

"What we believe happened to Diego Garcia is not about missiles with a much smaller amount of explosives: we believe that the Iranian regime is trying to produce new weapons capable of reaching 4,000 kilometres, which means total danger". This was said by Lieutenant Colonel Nadav Shoshani, International Spokesperson for the Israel Defence Forces (IDF), responding to a question about Iran's actual missile capabilities, after a journalist asked him if a missile with less explosive but more fuel had not been launched towards Diego Garcia, a modification that would lengthen the range but make the weapon less lethal.

"We think the Iranian regime is trying to develop new weapons capable of reaching 4,000 km, which would pose a total threat". IDF spokesman Nadav Shoshani said this during a briefing with the Italian press. "It would be a different type of weapon, but even so the issue probably concerns countries like the UK, France or Spain more closely," he explained. "As for Italia, I believe that even the missiles we see deployed against Israel, with some adaptations, could still be very lethal and extremely dangerous. Tehran has "missiles that can easily reach 2,000 km," the spokesman warned, "These missiles can carry a very high quantity of explosives: the fuel tank alone is bigger than a bus and can contain up to a ton of explosives. If you reduce the amount of explosives and increase the fuel, they can go as far as 3,000 km.' 'Even at a distance of 3,000 km - which, if my calculations are not wrong, corresponds more or less to the distance to Italy - these missiles can be extremely destructive: as we have seen in Arad and Dimona, 200-300 kilograms of explosives can literally devastate buildings and injure more than 100 people,' he stressed.

"The conditions that Iran intends to set in response include:
1) an end to terrorist aggression by the enemy;
2) the creation of objective conditions for the war not to be repeated;
3) the guarantee and clear definition of the payment of war damages and indemnities;
4) the implementation of the end of the war throughout the region, on all fronts and with respect for all resistance groups that participated in this battle," the source said, effectively repeating the same conditions that emerged yesterday in the Iranian media;

5) "Sovereignty over the Strait of Hormuz has been and will be a natural and legal right of Iran. The implementation of the other side's commitments should be guaranteed," the source added, stressing that "these conditions are in addition to Iran's demands, presented in the second round of Iran-US talks in Geneva, held a few days before the start of the current war".

The UK remains highly vulnerable to global energy shocks, says Joe Nellis of Mha. The OECD has warned that the country could be the most affected economy in the G-20 as energy prices rise following the outbreak of war in Iran. The most pressing risk will be to growth as consumers and businesses cut spending, while inflation is set to rise.

"After what we did in June, the A-bomb would not be ready tomorrow. But what we saw from the Iranians was very, very worrying, and we judged it to be an imminent threat. They had the idea that, if they dug deeper, if they hid their nuclear sites better and made them inaccessible to weapons, within a few months Israel and the United States would find themselves in the situation where they would realise that they had resumed promoting their nuclear programme, and at that point there would be nothing more they could do." This was said by Lieutenant Colonel Nadav Shoshani, International Spokesperson for the Israel Defence Forces (IDF) in a briefing for the Italian press on developments in regional warfare contexts, responding to a question on Iran's actual nuclear threat.

"Iran's response to the US 15-point proposal was officially sent through intermediaries last night and Iran is awaiting the counterpart's response," an "informed source" confirmed to the Tasnim news agency.

In addition to Tangsiri, the Israel Defence Forces (IDF) say that the attack also killed the Islamic Revolutionary Guards Corps (IRGC) naval intelligence chief, Behnam Rezaei. The Times of Israel reported this.

Iran:

Milan, 26 Mar (LaPresse) - US forces have struck more than 10,000 targets since the start of operations against Iran. This was stated by the US Central Command (Centcom).

Oil is up in New York, where quotations rose 4.40 per cent to USD 94.29 per barrel.

In the past 24 hours, Hezbollah has opened fire more than 600 times at Israel and Israeli troops, roughly double the previous peak of around 300 air threats recorded during the 2023-2024 conflict between the two sides, Israeli Defence Forces sources confirmed. The vast majority of the rockets, mortars and drones were launched against IDF forces occupying positions in southern Lebanon or trying to advance in the area. The significant increase in Hezbollah attacks, compared to a general average of around 100 attacks per day in the ongoing war, occurred while the possibility of an end to the conflict between Israel and Iran was being mooted. Despite growing expectations of a possible ceasefire, Israel has hinted that it will continue to bombard Hezbollah with air strikes and continue its invasion of South Lebanon. The escalation of Hezbollah attacks against Israel and the Israel Defence Forces is probably unsustainable, but could be part of an attempt to force Israel and the US into a ceasefire on all fronts, or to convince Israel to withdraw from South Lebanon. Meanwhile, in recent days, senior Israeli political and military officials have increasingly expressed publicly the likelihood of Israel retaining control of South Lebanon as far as the Litani River for an indefinite period, in an attempt to force Hezbollah to disarm, something the terrorist group has refused to do despite pressure from the Lebanese government since the autumn 2024 ceasefire.

There are now "30 countries coming together", many of them Nato members, but also Japan, Korea, Australia, New Zealand, Bahrain "to discuss and implement decisions on what, where and when" to ensure that navigation in the Strait of Hormuz "remains open". This was said by Nato Secretary General Mark Rutte. The coalition was launched by six countries originally - the UK, France, Germany, the Netherlands, Italia, Japan - after Donald Trump's demands. "There was frustration on his part but there is a reason: the US did not warn the allies and the allies needed time."

The Gulf countries have stated that they want to be involved in any negotiations between the US and Iran, insisting that while they have the right to self-defence, they prefer diplomacy. "We emphasise the need toinvolve the Ccg (Gulf Cooperation Council) countries in any negotiations or agreements to resolve this crisis, in a way that contributes to enhancing their security and stability," Jasem AlBudaiwi, secretary-general of the Gulf Cooperation Council, said in a televised address. AlBudaiwi also said that Iran required ships to pay sums of money to cross the Homuz Strait.

The head of the French Armed Forces, General Fabien Mandon, will bring together his counterparts from around 20 nations today to examine how to restore and safeguard navigation in the Strait of Hormuz once the war with Iran has ended. This was revealed by an official involved in the planning of the video conference hosted by Mandon, Chief of the French Defence Staff. The meeting hosted by Mandon is intended to help determine what resources such a mission might require from countries interested in participating, including warships, intelligence, and other military assistance.

Iran has set traps and moved military personnel and air defence systems to the island of Kharg, in preparation for a possible US ground operation to take control of it. This was reported by Cnn citing several sources privy to US intelligence information.

The Trump administration is considering deploying troops to conquer the small island in the northeast of the Persian Gulf, from which Tehran handles about 90% of its oil exports, to force Iran to reopen the Strait of Hormuz. However, American officials and military experts believe that such an operation would entail considerable risks, including a high number of casualties in the American ranks.

For the eighth time since this morning, alarms have just gone off about a missile launch from Iran against Tel Aviv and central Israel.

The Secretary General of the Gulf Cooperation Council, Jasem Mohamed al-Budaiwi, said during a press conference in Riyadh, Saudi Arabia, that Iran imposes tolls on ships to safely cross the Strait of Hormuz. Al-Budaiwi is the first senior official to accuse Iran of imposing a payment for safe transit through the strait. "They have closed the Strait of Hormuz and imposed fees for its transit, which constitutes aggression and a violation of the UN agreement on the Law of the Sea," he said. Al-Budaiwi heads the Gulf Cooperation Council (GCC), a bloc of six Gulf Arab nations, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

At least 1,937 people have died in Iran since the beginning of the war. This was told to Al Jazeera by Iran's Deputy Health Minister, Ali Jafarian, pointing out that among the figures are 240 women and 212 children. The injured areover24,800, including some 4,000 women and 1,621 children.

Israel confirms the death of the head of the Iranian Pasdaran Navy. The Israeli army 'has eliminated the commander of the navy of the Guardians of the Revolution, the party directly responsible for placing mines and blocking the Strait of Hormuz', said Defence Minister Israel Katz, promising to 'continue hunting them down one by one'.

Iraqi authorities said that 23 people were injured in the attack that hit amilitary clinic in Anbar province in western Iraq yesterday. Authorities took journalists on a tour of the site of the destroyed clinic, where Iraqi Defence Ministry spokesman General Tahsin al Khafaj gave an update on the death toll. The Defence Ministry condemned the attack, calling it a violation of international law and reiterated its right to retaliate. The Iraqi interim Prime Minister, Mohammed Shia al-Sudani, instructed the Ministry of Foreign Affairs to summon the chargé d'affaires of the US Embassy in Iraq. When asked about this, a US defence official said that the military was aware of the reports of the attack, but added that US forces had not targeted any medical clinics in Iraq.

Un ufficiale dell'esercito iracheno ispeziona il luogo in cui si è verificato un attacco aereo contro una clinica medica militare, dove, secondo fonti della sicurezza irachena, diversi soldati sono rimasti uccisi o feriti, nella provincia occidentale di Anbar, in Iraq, il 26 marzo 2026. Foto scattata con un cellulare. REUTERS/Osama Al-Dulaimi

The Kremlin responded to the Financial Times article that Russia is supplying drones to Iran by stating that the media are publishing many lies and that people should not pay attention to them. Reuters reports.

This morning in Safed, northern Israel, an 11-year-old girl suffered a cardiac arrest due to the sound of incoming rocket sirens and was admitted in serious condition after doctors managed to revive her. The Israeli ambulance service Magen David Adom says that shortly after 6am, paramedics on the scene found the child without vital signs and gave her first aid, including defibrillation, until her heart started beating again a few minutes later. She was transported to Ziv Hospital in serious but stable condition. This was reported by the Times of Israel.

In an interview on state TV last night, the Iranian Foreign Minister, Abbas Araghchi, stated that Tehran had allowed 'friendly countries' to pass through the Strait of Hormuz, thus citing China, Russia, India, Iraq and Pakistan.

"To some countries that we consider friends, we have allowed passage through the Strait of Hormuz. We have allowed transit to China, Russia, India, Iraq and Pakistan," Araghchi pointed out, reiterating that the Strait is "closed only to enemies".

China calls for "seizing opportunities for peace" and "sincere talks" between the US and Iran to end the conflict because an endless war "is not in anyone's interest, it will cause more casualties, unnecessary losses and further widening of the conflict". "The priority, the urgency, is to promote peace talks and seize opportunities for peace, to work to end the fighting," Beijing Foreign Ministry spokesman Lin Jian said in statements reported by the Global Times. The Asian giant, he repeated, "supports all efforts that can help reduce tensions". "All sides," he urged, "must move in the same direction and create the conditions for truly meaningful and sincere peace talks. China continues to reiterate that it is 'ready to play a constructive role'.

According to reports in the Washington Post, which cites sources, the Pentagon is considering diverting weapons destined for Ukraine to the Middle East, due to the difficulties the US has encountered in supplying ammunition due to the war with Iran.

Cooperation in the name of energy saving. This is the appeal that South Korean President Lee Jae Myung made to the population. Lee, Yonhap news agency reports, called on South Koreans to cooperate in efforts toreduce consumption as the conflict with Iran and its global repercussions continue, while promising that electricity prices would remain unchanged for now. "The government for now does not plan any changes to electricity tariffs, but keeping them at the current level could significantly affect losses for Kepco (supplier Korea Electric Power Corp)," said Lee, who among other things urged people to use public transport.

South Korea will launch a $17 billion supplementary budget and expand fuel tax cuts as the war in Iran is driving up energy prices. This was stated by the government on Thursday. "The government will draft a supplementary budget worth 25 trillion won ($17 billion) next month in response to the protracted conflict in the Middle East," the government said in a statement.

The spokesman of the Central Command in Khatam al-Anbiya, the headquarters of the Iranian Armed Forces, called on residents of the countries in the region to "report the whereabouts of American soldiers and demand the expulsion of US forces from the region for their own safety". "American commanders and soldiers have fled and taken refuge in hideouts outside the bases that have been destroyed by Iran. We are looking for them,' he added, as reported by Mehr.

The words of the President of the United States.

An Israeli official told the Times of Israel that the Navy Commander of the Revolutionary Guard Corps (Irgc), Alireza Tangsiri, was killed in an attack in Bandar Abbas. Tangsiri was responsible for the closure of the Strait of Hormuz, the source added.

As yet, there has been no comment from Iran or the Israeli army on the attack.

US Secretary of Defence Pete Hegseth, presided yesterday over his first monthly Christian religious service at the Pentagon since the start of the war with Iran and prayed that "every bullet reaches its target". "Every month it is right to be right here," he told the assembled civilian employees and uniformed military personnel, "even more right this month, at this time, considering what tens of thousands of Americans are doing right now." He then read a prayer he said was first recited by a military chaplain to the troops who captured former Venezuelan President Nicolás Maduro. "Let cevery bullet hit the target against the enemies of justice and of our great nation," Hegseth added during the live-streamed service, "give them wisdom in every decision, endurance for the trial ahead, unbreakable unity and overwhelming violence in action against those who deserve no mercy."

New alarm in Israel over a missile launch from Iran. Defence systems are in action, reports the Israeli army.

Japan has begun releasing a quota of its oil reserves, in the midst of the crisis caused by the war against Iran, equivalent to 30 days of domestic demand. This was reported by the Kyodo news agency, pointing out that it is a response never before implemented at this level. The news follows that of recent days on the release of private sector reserves sufficient for 15 days. Japan, the agency recalls, depends on the Middle East formore than 90% of its crude oil imports.

The tanker attacked in the Black Sea, operated by a Turkish company, had been sanctioned by the European Union and Ukraine in recent months, according to the Turkish portal Haber Denizde, quoted by Turkiye Today. As the article states, the tanker previously operated in the fleet of Besiktas Maritime under the name 'Besiktas Dardanelles'. The ship was then acquired by Panama-basedKayseri Shipping in May 2024 and added to its fleet under the name 'Kayseri'. In November 2025, the ship was acquired by Istanbul-based Pergamon Maritime, renamed 'Altura' and subsequently subject to European sanctions. The ship was added to the EU sanctions list on 24 October 2025, and the same decision was later made by Switzerland and Ukraine on 13 December 2025 and by the UK on 24 February this year. Sanctions announcements also indicated that Hector Varela De Leon, founder of Kayseri Shipping, had been added to the US sanctions list in July 2025, while the company was reportedly owned by Mohammad Hossein Shamkhani, son of Ali Shamkhani, former secretary general of Iran's Supreme National Security Council, who was killed in an Israeli raid on 28 February, the day the conflict with Iran began. According to the Turkish broadcaster Ntv, at the time of the attack the tanker departing from Russia was carrying 140,000 tonnes of oil and was about 24 kilometres from the northern entrance to the Bosporus, the channel separating the European and Anatolian coasts of Istanbul.

The Turkish Minister of Transport and Infrastructure, Abdülkadir Uraloğlu, confirmed the attack on the Turkish tanker Altura off the Turkish Black Sea coast. Speaking on 24TV , he noted that the attack was probably carried out by an unmanned vessel. "The tanker belongs to a Turkish company. An explosion occurred near the ship's engine room. We believe it was caused by the impact with an unmanned vessel. Our specialists are working on the spot. There are 27 of our citizens on board, who were not injured. We have sent all necessary resources to the scene and are closely monitoring the situation," he said. The oil tanker, owned by Istanbul-based Pergamon Shipping, carries 140,000 tonnes of oil from Russia.

Hezbollah has claimed responsibility for attacks in Tel Aviv, including raids on the Israeli Defence Ministry headquarters and a military intelligence base north of Tel Aviv, which were allegedly hit by precision missiles. This was reported by L'Orient Le Jour.

The US will hit Iran 'harder than it has ever been hit before' if Tehran does not reach an agreement to end the conflict. This was stated by White House spokeswoman Caroline Leavitt. "President Trump is not bluffing and is ready to raise hell." Trump is willing to order the deployment of US troops on Iranian soil, but is hesitant to do so, in part because it could undermine his goal of a speedy conclusion to the conflict. It fears that the number of US soldiers wounded or killed in the operation could increase, US officials said. So far, nearly 300 Americans have been injured and 13 have died. People close to the president have warned that it is often difficult to predict what decisions Trump might make regarding the war, noting that as the conflict has progressed, behind the scenes he has oscillated between embracing diplomacy and escalating attacks. Some close to Trump are urging him to take a harder line, saying that regime change in Iran could be a momentous event. Ending the war is not just up to Trump. The US and Iran are far from reaching an agreement to stop the fighting and Tehran has so far rejected direct talks with Washington. Without an agreement or a clear military victory, Trump risks facing a permanent blockade of the Strait of Hormuz, which would continue to destabilise the global energy market. Israel, which regards threats from Iran as existential, could continue its operations without the US. The Gulf countries, which have suffered weeks of attacks, are in turn considering retaliation. According to a senior US official, Trump has ordered the military to maintain pressure on Tehran. The Pentagon is deploying thousands of ground troops to the Middle East to give the president several options. Once more soldiers and marines are in place, Trump could quickly order a targeted raid, either inside Iran itself or on one of the islands along the country's southern coast.

There is an "axis of aggression" between Russia and Iran. This was stated by the British Defence Minister, John Healey, speaking on the BBC Breakfast programme. Healey said that the latest military intelligence information shows that, prior to the Middle East conflict, Russia was sharing information and providing training to Iran, adding that the "hidden hand of Putin" is present in Iran.

Russia is preparing to complete a series of shipments of drones, along with food and medicines to Iran: the Financial Times claims this, citing 'Western intelligence reports describing Moscow's activities to support its troubled partner'.

According to the financial daily, negotiations between officials in Tehran and Moscow on these supports had begun in secret a few days after the first US and Israeli bombings. The drone deliveries should be completed by the end of the month.

Iranian attacks on US military bases in the Middle East have forced many US soldiers to relocate to hotels and offices. The New York Times reports, citing US military personnel and officials, that in fact today much of the armed forces are operating remotely, with the exception of pilots and personnel involved in maintenance and conducting airstrikes.

The newspaper recalls that there were almost 40,000 soldiers in the region at the beginning of the conflict. According to military sources, thousands of them have been deployed elsewhere, including in Europe, but many have remained in the Middle East, although not at their bases. The result, according to serving and discharged military officials, is a much more difficult war to wage.

Piazza Affari and European stock exchanges opened on a downward trend after recent gains, with Milan down -0.6%, Paris down -0.4% and Frankfurt down -0.9%. Also weighing on the downtrend in Asian stocks were uncertainties over developments in the Middle East as markets tried to interpret mixed signals on a potential de-escalation in the Iran war. Meanwhile, the price of oil rose again, with the Brent rising above $99 a barrel (+2.5%).

An Israel Defence Forces (IDF) soldier was killed during a firefight with Hezbollah militiamen in southern Lebanon, the army announced.

The deceased soldier was identified as Staff Sergeant Ori Greenberg, 21, of the Golani Brigade Reconnaissance Unit. He is the third IDF soldier to lose his life in the renewed Israeli ground offensive against Hezbollah in southern Lebanon.

US President Donald Trump has told his aides in recent days that he wants to avoid a protracted war in Iran and hopes for an end to hostilities in the coming weeks. This was reported by the Wall Street Journal.

Nearly a month into the war, the president has privately informed his advisers that he believesthe conflict is in its final stages, asking them to adhere to the publicly stated four-to-six-week timeline. Sources heard by the WSJ remarked that the White House has scheduled for mid-May Trump's summit in Beijing with Chinese President Xi Jinping, indicating that he expects the war to end sooner.

Israel removed Iranian Foreign Minister Abbas Araghchi and Iranian Parliament Speaker Mohammad Bagher Ghalibaf from its blacklist after Pakistan asked Washington not to target them, a Pakistani official told Reuters.

"The Israelis had their coordinates and wanted to eliminate them. We told the US that if they too were eliminated, there would be no one else to talk to, so the US asked the Israelis to desist," the Pakistani source said, according to Times of Israel.

Asian stock exchanges in the red and government bonds fell on uncertainty over the substance and outcome of negotiations between the US and Iran to end the war in the Middle East. Hong Kong was down 1.9 percent, Shenzhen 1.7 percent, Shanghai 1.3 percent, Seoul 3.2 percent, while Tokyo was down 0.3 percent and Sydney 0.1 percent. Wall Street futures were also negative, with the Nasdaq and the S&P 500 dropping 0.3 percent, and European futures were down 0.6 percent for the Euro Stoxx. The rekindling of tension, with heavy attacks by Israel and the Iranian response with missiles and drones intercepted by Gulf countries, pushed up the price of oil, which advanced 2%, with the Wti at $92.3 a barrel and the Brent at $104.35. US ten-year yields rose 3 basis points to 4.36% on inflation fears. Gold also fell sharply, dropping 2.5 percent to $4,446 an ounce.

Two people were killed and three injured in Abu Dhabi, along Sweihan Street, where fragments of an intercepted ballistic missile fell. This was reported by Gulf News, citing local authorities, speaking of several damaged vehicles and recalling that the Ministry of Defence had previously reported several missiles and drones launched from Iran and intercepted by the Emirati air defence.

"The prolonged closure of the Strait of Hormuz is reducing the movement of oil, gas and fertilisers at a critical time in the world seeding season": this was the alarm raised on X by the UN Secretary General, Antonio Guterres, raising an appeal for an end to hostilities, while "the United Nations is trying to minimise the consequences of the conflict".

Approximately one third of the world trade in fertilisers by sea (around 16 million tonnes) transits through the Strait of Hormuz, the UN Trade and Development Agency (UNCTAD) had pointed out in recent weeks, expressing concern about access to fertilisers by poorer countries even in the face of rising gas prices.

The Israel Defence Forces (IDF) have detected another ballistic missile attack from Iran, the fourth in two hours. The Times of Israel writes that 'sirens will sound again in central Israel and the Jerusalem area in the next few minutes'.

Images of the destruction in and around Tehran.

The US Central Command, Centcom, announced in a post on social X that the aircraft carrier USS Abraham Lincoln continues flight operations against military targets in Iran as it sails through regional waters.

Senior Emirati oil executive Sultan al Jaber, head of the giant state-owned oil company Abu Dhabi National Oil Co., exacerbates the UAE's rhetoric as the war approaches its first month.

"The use of the Strait of Hormuz as a weapon is not an act of aggression against a single nation," al Jaber said in a speech at an event organised by the Middle East Institute in Washington.

Hundreds of transport workers have striked in Manila to protest against rising fuel prices. Indeed, diesel and petrol prices have more than doubled since the outbreak of war with Iran and the Philippines is now in a state of national energy emergency. This was reported by the BBC. President Ferdinand Marcos said he is working to secure new sources of oil, adding that the country is 'considering every possible solution'. The strikes are led by the Piston transport union coalition, which has set out a series of demands: from the abolition of fuel taxes to lower oil prices, from abandoning deregulation to the introduction of state control, as well as tariff increases and higher wages. Yesterday Marcos signed a law authorising him to temporarily suspend or reduce excise duty on petroleum products. Since the start of hostilities in the Middle East, the government has offered subsidies to transport drivers, reduced ferry services and introduced a four-day work week for civil servants to save fuel. A state of national energy emergency was also declared on Tuesday, giving the government the legal authority to impose measures to ensure energy stability and protect the economy as a whole.

According to local media reports, the Iranian parliament is working on a bill to formalise tariffs that will apparently be applied to certain ships transiting the Strait of Hormuz. The Fars and Tasnim news agencies, both close to the Iranian Revolutionary Guards, quoted MP Mohammadreza Rezaei Kouchi as saying that "parliament is pursuing a plan to formally codify Iran's sovereignty, control and supervision over the Strait of Hormuz, while creating a source of revenue through the collection of tolls". "It is only natural, just as goods pay transit fees when they pass through other corridors, the Strait of Hormuz is also a corridor," he is reported to have said, "we ensure its safety, and it is natural for ships and oil tankers to pay such fees."

Five people were slightly injured following the impact of an Iranian cluster bomb in Kafr Qasim, central Israel, according to rescuers.

Magen David Adom, the Israeli equivalent of the Red Cross, said that the five people hit by the cluster bomb were transported to hospital.

The Israeli Air Force recently completed a"vast" wave of air strikes in several areas of Iran, according to the Israeli Defence Forces (IDF).

The military added that the attacks targeted infrastructure sites of the Iranian regime, adding that further details will be provided later.

Iran wants 'very much' to reach an agreement, but is 'afraid to say so'. This was said in the last few hours by Donald Trump, according to whom "nobody has ever seen anything like what we are doing in the Middle East with Iran". "They're negotiating and they're so desperate to reach an agreement, but they're afraid to say it because they're afraid of being killed by their own people," the tycoon added in statements at a fundraising dinner reported by CNN. "They are also afraid that we will kill them," he pressed, after the US launched operations against Iran with Israel last 28 February.

Further reading

Iran, large-scale Israeli attacks. Tehran sets 5 conditions for end of war. White House: negotiations continue

25 March 2026