Main Points
- The US military has just confirmed that four of the six US crew members on board a refuelling plane that went down in western Iraq have died
- The United States has issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea
- Tehran will keep Strait of Hormuz closed and continue attacks on US assets, a speech read out on state TV said
- Government has ‘no immediate concerns’ about disruption to oil supplies
Key Reads
- Sally Hayden: ‘The children are afraid’: Beirut’s southern suburbs reel under relentless air strikes
- What is happening at the Strait of Hormuz and why could it trigger a cost-of-living crisis?
- Mark Weiss in Israel: Race for Iran’s enriched uranium: US and Israel want to end Tehran’s nuclear bomb ambitions
Dubai residents warned not to post bomb damage on social media
British nationals in the United Arab Emirates have been warned about the consequences of sharing pictures or videos documenting war-related incidents amid the ongoing conflict in the Middle East.
The warning comes after a British tourist was charged under cyber-crime laws in Dubai over alleged video footage showing missile strikes.
The man, 60, is accused of “broadcasting, publishing, republishing or circulating rumours or provocative propaganda that could disturb public security”, campaign group Detained in Dubai said.
Radha Stirling, the group’s chief executive, said the man had said that he deleted the video from his phone when asked and had no intention of doing anything wrong.
Dubai, which is in the UAE, has been hit with missiles amid the conflict between Iran and the US and Israel.
On Friday the British Embassy in the UAE posted on X: “UAE authorities warn against photographing, posting, or sharing images of incident sites or projectile damage as well as government buildings and diplomatic missions.
“British nationals are subject to UAE laws, violations may lead to fines, imprisonment, or deportation.”
Europe not facing the same economic threat as Ukraine war
The European Central Bank is confronting the threat of another bout of war-induced inflation in the knowledge that this time is probably different, and it’s better positioned to respond.
With the escalation in Iran and a corresponding surge in energy costs stoking renewed bets on interest-rate hikes, officials are acutely aware of the echoes with 2022, when Russia’s invasion of Ukraine ultimately sent consumer-price growth soaring out of control.
But President Christine Lagarde and her colleagues are facing a set of circumstances that are largely distinct. The contrasts range from the constellation of monetary and fiscal policy settings now in force, to the state of the economy and the sources of energy supply.
While market bets inspired by the need to avoid a repeat of the Ukraine aftermath are indeed forcing the ECB to consider the parallels and stress its readiness to act, officials are signaling that nothing will happen at next week’s decision.
“There are some similarities with 2022, but there are probably even more and major differences,” said Jari Stehn, chief European economist at Goldman Sachs. “So recent developments definitely call for close monitoring, but there’s also no need to exaggerate the comparison for now - Bloomberg
Macron describes death of French soldier in Iraq as ‘unacceptable’
French president Emmanuel Macron has confirmed that Chief Warrant Officer Arnaud Frion of the 7th Battalion of Chasseurs Alpins from Varces was killed by an Iranian missile strike in the Ebril region of Iraq.
Posting on X, Macron said: “To his family, to his brothers in arms, I want to express all the affection and solidarity of the Nation.Several of our soldiers have been wounded.
“France stands by their side and with their loved ones.This attack against our forces engaged in the fight against Daesh since 2015 is unacceptable.
“Their presence in Iraq is part of the strict framework of the fight against terrorism. The war in Iran cannot justify such attacks.”
Four killed in US military plane crash
The US military has just confirmed that four of the six US crew members on board a refuelling plane that went down in western Iraq have died.
US Central Command (Centcom) said the accident was not as a result of enemy fire.
Centcom said on Thursday evening that the KC-135 refuelling plane had gone down in “friendly airspace” and a second aircraft involved in the incident landed safely.
The names of the deceased have been withheld so their families can be contacted.
The other two crew of the aircraft are still missing.
Russia and Iran accused of attempting to ‘hijack’ global economy
British foreign secretary Yvette Cooper has accused Russia and Iran of attempting to “hijack the global economy” as Tehran continued to blockade a key oil shipping route.
Iran’s new supreme leader has vowed to continue attacking shipping in the Strait of Hormuz in retaliation for ongoing US-Israeli strikes on his country.
The blockade has seen oil prices jump to around $100 per barrel, threatening higher inflation across the globe.
Speaking to the Press Association during a visit to Saudi Arabia, the foreign secretary linked the threat from Iran to that from Russia, a key ally of Tehran.
She said: “We have seen these links between Russia and Iran over an extended period of time.
“We’re seeing it in terms of technology, we see it in terms of the approach, we see it in terms of these kinds of tactics, and we see it in terms of the way these two states try to support each other and try to benefit together from attempting to hijack the global economy.”
She added: “We are very clear about the threat from both Russia and from Iran to the global economy and to all of our wellbeing.”
But Cooper declined to criticise the easing of American sanctions on some Russian oil in the face of rising prices, saying it was a “specific, targeted issue”.
Donald Trump threatens Iran after new wave of attacks on Gulf states and Israel
Iran has launched multiple attacks on Gulf Arab states, including dozens of drones at Saudi Arabia, following warnings from its new supreme leader about hosting American bases.
The strikes were launched early Friday after US president Donald Trump threatened a major new retaliation.
“Watch what happens to these deranged scumbags today,” Trump wrote in a social media post. “Iran’s Navy is gone, their Air Force is no longer, missiles, drones and everything else are being decimated, and their leaders have been wiped from the face of the earth.”
The comments came the day after Iran’s supreme leader, Ayatollah Mojtaba Khamenei, vowed to “not refrain from avenging the blood” of Iranians killed, and warned Gulf Arab nations to shut US bases, saying the notion of American protection was “nothing more than a lie”.
Intense air strikes landed around Iran’s capital, Tehran, early Friday, just before rallies were due to begin for the annual Quds Day event in support of Palestinians. Despite the attacks, thousands of people took to the streets chanting “death to Israel” and “death to America”.
Six crew members feared dead following US military aircraft crash
A US military refuelling aircraft crashed in western Iraq on Thursday in an incident US Central Command said involved another aircraft but was not the result of hostile or friendly fire.
The United States has sent a large number of aircraft into the Middle East to take part in operations against Iran.
In a statement, US Central Command said it was carrying out rescue efforts after the US KC-135 refuelling aeroplane went down. The second aircraft landed safely.
“The incident occurred in friendly airspace during Operation Epic Fury, and rescue efforts are ongoing,” the statement said, using the name of the US operation against Iran.
The United States has issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea.
US treasury secretary Scott Bessent said the move, announced on Thursday, was a step to stabilise global energy markets roiled by the Iran war.
Bessent said it was “unfortunate” the move could benefit Russia but maintained it was only for the short term.
Moscow claimed on Friday it was “increasingly inevitable” that Washington would lift sanctions. The US is “effectively acknowledging the obvious: without Russian oil, the global energy market cannot remain stable”, Russia’s economic envoy Kirill Dmitriev wrote on Telegram.
European Commission president Ursula von der Leyen, after participating in a call with G7 leaders on Wednesday to discuss the impact of the Iran war on oil and gas markets, said now was not the time to relax sanctions against Russia.
The paralysis of the strait of Hormuz “in no way” justifies lifting sanctions on Russia, French president Emmanuel Macron said after the call with other G7 leaders about the economic ramifications of the war in Iran.
The story is here.
The Government has signed an updated defence agreement with Britain designed to bolster maritime co-operation in tackling activity by the Russian “shadow fleet”.
The defence memorandum of understanding us due to be announced on the fringes of the United Kingdom-Ireland summit being held in Cork on Friday.
British prime minister Keir Starmer flew to Cork on Thursday where he was met by Taoiseach Micheál Martin, after first visiting Northern Ireland where he met the First and Deputy First Ministers.
It is understood that Minister for Defence Helen McEntee and UK defence secretary John Healey signed the defence memorandum earlier this week, which is an update to a 2015 agreement between the two countries.
You can read more here.
Small and medium sized businesses (SMEs) have called on the Government to introduce contingency plans to alleviate the impact of fuel price increases as a result of the war in the Middle East.
The Irish Small and Medium Enterprises (Isme) said many SMEs are being “disproportionately affected” by the spike in fuel prices, with businesses across the retail and hospitality sectors facing particularly heavy energy bills.
The group warned that if the current fuel cost crisis persists, many businesses will have “little choice” but to pass these rising costs on to their customers or consumers.
“Essential service providers, including nursing homes and childcare facilities, are under significant strain as they cannot reduce energy consumption without compromising the care provided to vulnerable people and young children,” Isme said.
“Therefore, Isme is calling on the Government to give serious consideration to measures that will mitigate the impact of rising fuel costs and to ensure a contingency plan is in place to support SMEs if the crisis continues or escalates further.”
Isme chief executive Neil McDonnell said SMEs are being “hit hardest” by rising fuel costs, particularly those in energy-intensive sectors such as retail and hospitality.
“For many SMEs in Ireland, energy is not a discretionary expense, it is fundamental to keeping their doors open and serving their customers,” he said.
