Main PointsKey Reads
Sarah Burns – 9 minutes ago
Rubio says Iran keeps reneging on deals while ‘paying the price’
US secretary of state Marco Rubio said on Thursday that the United States had kept its end of a deal with Iran but Tehran had kept reneging on agreements while suffering tremendous losses.
“These people make deals and then they break it almost immediately or they decide, ‘oh, let’s change the deal’. That’s not how deals work,” he said.
“So now they’re paying the price for it. And maybe they’ll change their mind here over the next few days as they continue to suffer great losses.”
US Secretary of State Marco Rubio speaks to the press on the sidelines of the Association of Southeast Asian Nations (ASEAN) Foreign Ministers Meeting in Pasay. Photograph: Brendan Smialowski/AFP via Getty Images
Sarah Burns – 52 minutes ago
European Central Bank set to pause rate hikes to gauge war risk
The European Central Bank will probably keep interest rates on hold on Thursday, buying time to assess the fallout of renewed fighting in the Middle East.
Neither traders nor analysts predict the ECB will deliver a second consecutive hike so soon after last month’s increase.
That means the deposit rate is set to remain at 2.25 per cent, a level officials have described as “appropriate” as they weigh the implications of a re-escalation in the US-Iran conflict.
A ceasefire following the ECB’s June meeting along with weaker-than-expected inflation that month had raised hopes that the worst of the crisis might have passed. But fresh hostilities, pushing oil back above $95 a barrel, have revived expectations for more tightening ahead.
Southeast Asia hosts security gathering amid Middle East turmoil
Top diplomats from Asia, Europe and North America met on Thursday for the security-focused ASEAN Regional Forum, where ministers were expected to call for a peaceful settlement of renewed and intensifying hostilities in the Middle East.
The war in Iran and the blockade of the Strait of Hormuz are set to dominate the Manila meetings attended by US secretary of state Marco Rubio, Russian foreign minister Sergey Lavrov and top officials from Australia, Britain, China, the European Union, India, Japan and others.
The conflict is a key concern for the 11-nation Association of Southeast Asian Nations, which has a combined gross domestic product of about $3.8 trillion heavily reliant on Middle East oil, exposing it to fallout that has stoked global inflation.
“We convene against the backdrop of profound geopolitical and geoeconomic uncertainty,” Maria Theresa Lazaro, the foreign secretary of the Philippines, which is chairing the grouping, said in opening remarks.
“These issues transcend borders and underscore the reality that no nation can address today’s complex security environment alone.”
The US military completed a 12th successive night of attacks on Iran on Wednesday, with Iranian-aligned Houthis claiming hits the following day on two Saudi oil tankers, in a blockade that threatens a second chokehold on global oil supplies in the Red Sea, alongside the Strait of Hormuz.
The world has entered a “new period of turbulence and transformation”, China’s vice foreign minister Hua Chunying told a meeting of officials from ASEAN, China, Japan and South Korea on Thursday, warning of an urgent need for peace and stability.
Message from the Editor
Irish Times Editor Ruadhán Mac Cormaic
Thanks for reading. If you’re interested in world news, The Irish Times has the largest network of foreign correspondents of any Irish news organisation.
Our team provides sharp reporting, in-depth analysis and thought-provoking commentary. Receive our Global Briefing newsletter in your inbox every morning to enjoy Denis Staunton’s guide to understanding world events; what’s happening, why it matters and how it affects you.
At The Irish Times, our journalism is free of any personal, political or commercial control. Unlike most publishers, we have no shareholders to satisfy, no media baron owner in the background telling us what we can and cannot publish.
We are owned by a Trust that mandates us to uphold a set of public-interest values. Those values describe a worldview that is outward-looking, tolerant, curious, interested in divergent views and attentive to the needs of minorities.
Our watchwords are fairness and accuracy. Our goal is to enable you to make informed and independent judgments. And any profit we make goes towards supporting our journalism.
Ruadhán Mac Cormaic
Editor
To join Ireland’s biggest community of news subscribers, sign up here
Sarah Burns – 2 hours ago
Why has the US done a nuclear deal with Saudi Arabia?
US president Donald Trump went to war with Iran in part to force compliance with two long-standing US demands: Iran must stop enriching nuclear fuel for at least two decades, and it must allow international inspectors to go anywhere and see anything to verify the country is not producing a bomb.
On Wednesday, Trump took the reverse approach to Saudi Arabia, its close ally in the region. To seal a deal for Westinghouse and other American companies to seize a big piece of the business in building two nuclear reactors on Saudi territory – and more to come – it opened the door to allowing the kingdom to begin enriching its own nuclear fuel after two years.
Read more here.
US president Donald Trump during a meeting in the Oval Office at the White House earlier this month. Photograph: Doug Mills/The New York Times
Sarah Burns – 2 hours ago
Oil rises as US conflict with Iran deepens
Oil prices continued to rise on Thursday as fighting between the United States and Iran and its allies escalated, adding to fears about shipping energy out of the Middle East.
The Houthis, an Iran-backed militia in Yemen, claimed to have attacked two Saudi oil tankers in the Red Sea after threatening a blockade in the region.
Iran’s Revolutionary Guard said one of three oil tankers trying to pass through a “mined route” south of the Strait of Hormuz caught fire after an explosion, prompting the other two ships to turn back, according to a statement carried by Iran’s official state news agency.
The US it had completed its 12th night of consecutive strikes intended to “degrade Iran’s ability to threaten civilian mariners and commercial vessels.”
The price of Brent crude, the global benchmark for oil, rose nearly 6 per cent to top $96 a barrel. As the fighting in the Middle East has intensified, Brent has gained about $12 over the past week. The cost of crude is up about 33 per cent since the start of the war.
West Texas Intermediate crude, the US benchmark, climbed nearly 2 per cent to $88.45 a barrel.
Sarah Burns – 3 hours ago
UK withdraws diplomatic staff from Iran as US air strikes continue
The UK has withdrawn remaining diplomatic staff from Iran as the conflict with the US continued to escalate with a 12th night of air strikes.
A statement on the Foreign Office (FCDO) website said: “Due to the security situation, UK staff have been temporarily withdrawn from Iran.
“Our embassy continues to operate remotely.”
The FCDO advises against all travel to Iran, saying British and dual British-Iranian residents face “significant risk of arrest, questioning or detention”.
A similar move was made in February ahead of the start of US and Israeli combat operations.
US Central Command said late on Wednesday that the 12th night of attacks was designed to “further degrade Iran’s ability to threaten civilian mariners and commercial vessels transiting regional waters”.
Announcing the end of the latest wave of strikes on Thursday morning, it said US forces struck military targets including maritime capabilities, missile and drone storage facilities, coastal surveillance sites and air defence assets.
“The strikes further degrade Iran’s ability to attack civilian mariners and commercial vessels,” it said on X.
Missiles struck near the cities of Ahvaz, Ramshir and Andimeshk in western Iran, according to Iranian state media, who said two people were killed in the town of Shalamcheh on the Iraqi border.
Kuwait’s army said on X that the country’s air defences were “confronting attacks by hostile drones, following the sinful Iranian aggression”.
Iranian foreign minister Seyed Abbas Araghchi also said an “eye-for-an-eye” approach would be adopted by Iran.
“Any aggression against Iran, including our infrastructure, will compel a powerful and decisive response,” he posted on X on Wednesday.
Sarah Burns – 3 hours ago
Houthis claim strikes on two Saudi tankers as US attacks on Iran widen
Yemen’s Houthi militia attacked two Saudi Arabian oil tankers, the Iranian-aligned group said on Thursday, with a Saudi news agency later confirming one of the vessels was ablaze in the Red Sea.
The threat of new front opening up in the US-Iran war came as the US military launched its 12th successive night of strikes, which have now widened to western and central Iran.
The Houthis said they attacked two tankers, the Encelia and Layla, saying the vessels had violated a naval blockade imposed by the group on Saudi Arabia in the Red Sea. The Houthis said they targeted the tankers with a number of ballistic and cruise missiles as well as drones.
Saudi Arabian news outlet SPA said an attack caused a fire on the bow of the Encelia but all crew members were safe. It did not say who targeted the vessel.
A maritime security source said earlier on Thursday that the Encelia had transmitted a distress call via VHF radio, reporting it had been struck by a missile while operating at the outer port limits of Saudi Arabia’s Jizan, in the Red Sea, and was on fire.
The British maritime risk-management group Vanguard also said the Saudi-flagged tanker Encelia was struck by an unknown projectile about 70 nautical miles (130km) southwest of Saudi Arabia’s Al Shuqaiq.
The United Kingdom Maritime Trade Operations agency said it had received a report of an incident in the same area, saying the master of a tanker reported being struck by an unknown projectile that caused a fire on-board.
It was not immediately clear whether the UKMTO report referred to the Encelia, though details matched Vanguard’s report.
In the statement announcing their attack on the two tankers, the Houthis claimed they had forced about 10 ships to retreat and return.
Five tankers changed course in the Red Sea on Wednesday, with two signalling the Suez Canal as their new destination after the Houthis warned ships to avoid Saudi ports, ship-tracking data showed.
Brent crude oil on Wednesday jumped more than 3 per cent to move back up above $95.
Before the Red Sea flare-up, US president Donald Trump had vowed to destroy an Iranian bridge or power plant every time Iran shoots at a ship in the strait of Hormuz, a claim Iran said it would respond to.
US attacks on Thursday lasted five hours and struck at Iranian military targets including maritime capabilities, missile and drone storage facilities, coastal surveillance sites and air defence assets.
Iranian media reports said the US twice on Thursday attacked a military target in Bushehr, near the country’s only operating commercial nuclear power reactor, marking three strikes there in two days.
State TV reported two people were killed and 11 wounded in what a Khuzestan provincial official described as a US missile attack on the Shalamcheh border crossing with Iraq.
Despite triumphant statements from Washington, Iran has demonstrated it retains missile and drone capabilities. Iran pounded vital water desalination and energy plants in Kuwait this week and targeted US military assets there. US allies Bahrain and Jordan have also come under attack in recent days.
An Iranian health ministry official said 53 civilians had been killed and 592 wounded since late last month. Since the US and Israel launched the war on February 28th, thousands of people have been killed and millions displaced.
The war has also led to the deaths of 18 US service members and injured more than 450 troops.
Trump attended a ceremony on Wednesday at Dover air force base, Delaware, for four US service members killed in Iranian attacks on military bases over the last few days.
“For me it’s one of the hardest things to do as a president. But it has to be done,” Trump said before leaving for the ceremony.