{"id":374417,"date":"2026-03-31T09:09:10","date_gmt":"2026-03-31T09:09:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/374417\/"},"modified":"2026-03-31T09:09:10","modified_gmt":"2026-03-31T09:09:10","slug":"imf-issues-stark-prices-warning-due-to-iran-conflict-gulf-states-dealing-with-attacks-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/374417\/","title":{"rendered":"IMF issues stark prices warning due to Iran conflict; Gulf states dealing with attacks \u2013 The Irish Times"},"content":{"rendered":"

Main PointsThe limited amount of oil, gas and fertiliser making its way out of the Gulf will lead to \u201chigher prices and slower growth worldwide\u201d, the International Monetary Fund has warned.US president Donald Trump<\/a> has threatened to \u201cobliterate\u201d Iran\u2019s energy grid if ceasefire not reached \u201cshortly\u201d.Iran<\/a> attacked and set ablaze a fully loaded crude \u200coil tanker<\/a> off Dubai <\/a>on Monday.Key Reads<\/p>\n

Katie Mellett – 6 minutes ago<\/p>\n

Public urged to \u2018remain calm and follow the safety and security instructions\u2019 amid missile and drone attacks in UAE<\/p>\n

\u062a\u062a\u0639\u0627\u0645\u0644 \u062d\u0627\u0644\u064a\u0627\u064b \u0627\u0644\u062f\u0641\u0627\u0639\u0627\u062a \u0627\u0644\u062c\u0648\u064a\u0629 \u0627\u0644\u0625\u0645\u0627\u0631\u0627\u062a\u064a\u0629 \u0645\u0639 \u0627\u0639\u062a\u062f\u0627\u0621\u0627\u062a \u0635\u0627\u0631\u0648\u062e\u064a\u0629 \u0648\u0637\u0627\u0626\u0631\u0627\u062a \u0645\u0633\u064a\u0631\u0629 \u0642\u0627\u062f\u0645\u0629 \u0645\u0646 \u0627\u064a\u0631\u0627\u0646 \u0648\u062a\u0624\u0643\u062f \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u062f\u0641\u0627\u0639 \u0623\u0646 \u0627\u0644\u0627\u0635\u0648\u0627\u062a \u0627\u0644\u0645\u0633\u0645\u0648\u0639\u0629 \u0641\u064a \u0645\u0646\u0627\u0637\u0642 \u0645\u062a\u0641\u0631\u0642\u0629 \u0645\u0646 \u0627\u0644\u062f\u0648\u0644\u0629 \u0647\u064a \u0646\u062a\u064a\u062c\u0629 \u062a\u0639\u0627\u0645\u0644 \u0645\u0646\u0638\u0648\u0645\u0627\u062a \u0627\u0644\u062f\u0641\u0627\u0639\u0627\u062a \u0627\u0644\u062c\u0648\u064a\u0629 \u0627\u0644\u0625\u0645\u0627\u0631\u0627\u062a\u064a\u0629 \u0644\u0644\u0635\u0648\u0627\u0631\u064a\u062e \u0627\u0644\u0628\u0627\u0644\u064a\u0633\u062a\u064a\u0629\u060c \u0648\u0627\u0644\u062c\u0648\u0627\u0644\u0629 \u0648\u0627\u0644\u0637\u0627\u0626\u0631\u0627\u062a \u0627\u0644\u0645\u0633\u064a\u0631\u0629.<\/p>\n

UAE Air Defences system\u2026 pic.twitter.com\/hDtes8Fvpj<\/a><\/p>\n

\u2014 \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u062f\u0641\u0627\u0639 |MOD UAE (@modgovae) March 31, 2026<\/a><\/p>\n

In a post on X, when translated from Arabic, the United Arab Emirates ministry of defence said the missile and drone attacks originated from Iran and confirmed that the sounds heard in various parts of the country are the result of the UAE air defense systems intercepting ballistic missiles, cruise missiles and drones.<\/p>\n

It urged the public to remain calm and follow the safety and security instructions issued by relevant authorities.<\/p>\n

It also said \u201cdo not approach, touch or photograph any debris or fragments that have fallen as a result of successful interceptions and allow relevant authorities to assess the situation.\u201d<\/p>\n

Katie Mellett – 20 minutes ago<\/p>\n

Eight people injured by falling munitions fragments in Israel\"AnAn ultra-Orthodox Jewish man assesses the damage inside a house following an Iranian strike over Bnei Brak in central Israel on March 31st, 2026. Photograph: Ilia YEFIMOVICH \/ AFP via Getty Images <\/p>\n

Israel\u2019s emergency services said this morning that eight people with minor injuries were evacuated to hospitals in the Tel Aviv area, where police reported falling munitions fragments after an alert for incoming Iranian missiles. <\/p>\n

Six of the injured were treated in the city of Bnei Brak, according to Israel\u2019s Magen David Adom emergency service. – Guardian<\/p>\n

Katie Mellett – 31 minutes ago<\/p>\n

Iran warns of death penalty<\/p>\n

People accused of spying \u200cor co-operating with \u201chostile states\u201d could face the death penalty and confiscation \u200cof all assets under a recently enhanced law, an Iranian judiciary \u200bspokesperson said, a month into the war with the United States and Israel.<\/p>\n

Even sharing photos or videos that could \u200baid enemy targeting may be treated as intelligence co-operation, the spokesman \u2060added.<\/p>\n

Iranian media have reported more than 1,000 \u200carrests \u200cover \u200bthe course of the month, related to individuals accused of filming sensitive locations, sharing \u2060anti-government content \u200bonline, or \u201cco-operating with the enemy\u201d.<\/p>\n

The judiciary spokesman said the legislation, passed last year, applies to operational, intelligence and certain media activities deemed to support hostile governments, notably the US and Israel.<\/p>\n

He warned those creating \u201cfear\u201d through misinformation could face prison terms, \u200cwith penalties increased \u2060in wartime.<\/p>\n

He added that authorities have issued around 200 indictments in such cases and \u200cwere working with security bodies to identify and seize assets linked \u200bto suspects, stressing that there \u200bwould be no leniency in enforcing the law. – Reuters<\/p>\n

Katie Mellett – 36 minutes ago<\/p>\n

Italy denies US aircraft access to military base<\/p>\n

Italy denied US military aircraft bound for the Middle East permission to land at a base in Sicily, newspaper Corriere della Sera reported on Tuesday.<\/p>\n

The move risks inflaming tensions with Washington, which has criticised European allies for not supporting its war with Iran. <\/p>\n

Secretary of State Marco Rubio said on Monday the US may need to reassess its relationship with NATO after the war is over.<\/p>\n

The US flight plan was submitted without authorisation or consultation with national authorities and was forwarded after US planes were already airborne, the newspaper reported, without saying how it obtained the information.<\/p>\n

Italy\u2019s military checks found the flights were not routine or for logistics purposes, hence outside existing bilateral agreements. <\/p>\n

The flights therefore required approval and parliamentary oversight, Corriere said.<\/p>\n

A representative for Italy\u2019s defence minister wasn\u2019t immediately available for comment.<\/p>\n

Italy\u2019s move came as other countries, such as Spain, closed airspace to American flights involved in the US military operation in Iran, expanding an effort to distance itself from the conflict.<\/p>\n

Katie Mellett – 47 minutes ago<\/p>\n

EU tells members to prepare for \u2018prolonged disruption\u2019 to energy markets from Iran war<\/p>\n

European Union governments should prepare \u200cfor a \u201cprolonged disruption\u201d to energy \u200bmarkets as a result of the \u200bIran war, the bloc\u2019s \u2060energy chief has told \u200ccountries\u2019 \u200cministers \u200bahead of an emergency meeting \u2060on \u200bTuesday.<\/p>\n

In a \u200bletter to \u200cministers, seen by \u200bReuters, EU energy commissioner \u2060Dan \u2060Jorgensen said \u200bwhile the fallout on Europe\u2019s energy supplies is currently contained, governments \u200care \u201cencouraged to \u2060make timely preparations in anticipation \u200cof a potentially prolonged disruption\u201d. – Reuters<\/p>\n

Katie Mellett – 59 minutes ago<\/p>\n

US-Israeli attack kills 11 people in Iran<\/p>\n

A US-Israeli attack on the Iranian city of Mahallat last night killed 11 people and injured 15 others, the Tasnim news agency has cited a deputy security officer as having said. <\/p>\n

Four residential units were \u201ccompletely destroyed\u201d in the attack, in which three children were killed, according to the report.<\/p>\n

Katie Mellett – 1 hour ago<\/p>\n

Role of Unifil mission \u2018more important than ever,\u2019 says Irish Defence Forces<\/p>\n

Commandant Alex Quigley from the Defence Forces press office has said that the recent moves by Israel to cut off southern Lebanon from Beirut will not have an impact on the current rotation of Irish troops on Unifil duty and their deployment will conclude in May as planned, reports Vivienne Clarke.<\/p>\n

While there may be restrictions on movement if Israel continues to destroy bridges across the River Litani, Irish troops had already proved they were more than capable of completing their rotation, he told RT\u00c9 radio\u2019s Morning Ireland.<\/p>\n

Unifil has aviation and maritime forces that can assist in \u201cmovement and manoeuvrability\u201d and the Irish Defence Forces have good equipment, he added. <\/p>\n

The Irish troops had been well trained for this mission. \u201cThey\u2019re where they need to be.\u00a0They\u2019re surrounded by very well-trained individuals who also are there.\u201d<\/p>\n

Quigley encouraged families of the troops to have comfort in the fact that \u201cour highly professional soldiers are doing their job where they need to be for the eyes and ears for the international community.\u00a0<\/p>\n

\u201cOur personnel are highly trained and highly prepared for these missions.\u00a0So before they go, they undergo a three-month mission readiness exercise.\u00a0<\/p>\n

\u201cWhat is happening right now is part of their job,\u00a0and we have the force protection measures in place to mitigate against that risk.\u201d<\/p>\n

Apart from the \u201coccasional disruption\u201d to framework operations, the personnel of the 127th\u00a0Infantry Battalion are patrolling every single day.<\/p>\n

\u201cIf the volatility in the region does rise,\u00a0they may go into bunkers,\u00a0but that would only be for maybe like one hour, two hours at a time.\u201d<\/p>\n

The role of the Unifil mission was more important than ever now, he said, given the ongoing conflict.<\/p>\n

Katie Mellett – 1 hour ago<\/p>\n

Iranian parliamentary committee approves plan to impose tolls on Strait of Hormuz<\/p>\n

Iranian state media reported that an Iranian parliamentary committee had approved a proposal to collect a toll on vessels travelling through the strait of Hormuz. <\/p>\n

The strait will be closed to ships from the US, Israel and countries that have been involved in sanctioning Iran, according to a Telegram post from the Fars news agency, which said that Iran will have a \u201csovereign\u201d role in the implementation of the new system. <\/p>\n

The proposal, approved by Iran\u2019s parliament security committee, would reportedly require agreement from other countries next to the strait. <\/p>\n

It is not clear how much the toll on vessels will be. <\/p>\n

The US president, Donald Trump, warned yesterday that if a deal was not struck with Iran \u2013 including to reopen the strait of Hormuz shipping lane \u2013 US forces would destroy \u201call of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants)\u201d. <\/p>\n

The strait\u2019s closure has sent global energy prices soaring, including in the US where residents are being hit hard by surging gas prices and farmers face higher fertiliser costs and falling commodity prices. – Guardian<\/p>\n

Katie Mellett – 1 hour ago<\/p>\n

The United Arab Emirates defence ministry said its defence systems are dealing with missile and drone threats from Iran.<\/p>\n

Katie Mellett – 1 hour ago<\/p>\n

Pakistani foreign minister to discuss Iran during China visit, Chinese ministry says<\/p>\n

China\u2019s foreign \u200cminister and his Pakistani \u200bcounterpart will discuss the situation \u200bin Iran during \u2060the latter\u2019s visit \u200cto \u200cChina \u200bon Tuesday, \u2060China\u2019s \u200bforeign ministry said.<\/p>\n

The \u200btwo \u200ccountries have similar \u200bpositions on \u2060major international \u2060and \u200bregional issues, a spokesperson for the ministry said \u200cin a \u2060press briefing.<\/p>\n

Katie Mellett – 1 hour ago<\/p>\n

Two Chinese vessels successfully pass through Strait of Hormuz\"AA police speed boat patrols the port as oil tankers and high speed crafts sit anchored at Muscat Anchorage near the Strait of Hormuz on March 30th, 2026 in Muscat, Oman. Photograph: Elke Scholiers\/Getty Images <\/p>\n

Two container vessels belonging to the Chinese shipping giant Cosco have successfully passed through the Strait of Hormuz as they have exited the Gulf, ship tracking data indicates. <\/p>\n

The two vessels were the CSCL Indian Ocean and the CSCL Arctic Ocean. <\/p>\n

They passed close to the Iranian-controlled island of Larak and are bound for Port Klang in Malaysia. <\/p>\n

Iran has effectively blocked the vital waterway but allowed a trickle of ships through from nations it deems \u201cnon-hostile\u201d, such as Thailand, China, Pakistan and India. – Guardian<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Israel reviewing deaths of Indonesian peacekeepers<\/p>\n

Israel\u2019s military said it was aware of the reports regarding the two incidents where three Indonesian peacekeepers were killed and they were being reviewed thoroughly to determine whether they resulted from the military\u2019s activity or Hizbullah\u2019s. – Guardian<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Indonesia condemns attacks on its peacekeepers\"SmokeSmoke rises from a village in southern Lebanon as a result of an Israeli strike, as seen from the Israeli side of the border in Kibbutz Dan, Upper Galilee, northern Israel, March 30th, 2026. Photograph: EPA <\/p>\n

Indonesia\u2019s foreign ministry said \u200con Tuesday that it \u200bcondemned the attacks in southern Lebanon \u200bon March 30th \u201cin \u2060the strongest terms\u201d, \u200cadding that \u200cthey \u200breflect the deteriorating \u2060security \u200benvironment in \u200bthe region.<\/p>\n

It said \u200cthat ongoing Israeli \u200bmilitary operations have \u2060placed UN \u2060peacekeepers \u200bin Lebanon at grave risk.<\/p>\n

The attacks over the \u200cweekend killed \u2060three Indonesians, the foreign ministry said.<\/p>\n

Indonesia\u2019s foreign minister has called for an emergency UN security council meeting and \u201cfor a swift, thorough and transparent investigation\u201d into the \u201cheinous attack\u201d. – Reuters<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Kuwait and Saudi Arabia respond to drone and missile attacks<\/p>\n

Saudi Arabia\u2019s defence ministry said it has intercepted and destroyed ten drones over the past hours and eight missiles launched towards the Riyadh area and eastern region. <\/p>\n

Early this morning, Kuwait said its air defences were responding to hostile missile and drone attacks. <\/p>\n

Neither Saudi Arabia or Kuwait said where the drones or missiles came from. – Guardian<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Iran executes two men convicted of attack on government building<\/p>\n

Iran executed \u200ctwo men convicted of \u200blinks to the People\u2019s \u200bMojahedin Organisation \u2060of Iran and involvement \u200cin \u200cmultiple \u200battacks, including \u2060firing launcher \u200bweapons at \u200ba \u200cgovernment building, the \u200bjudiciary news outlet \u2060reported \u2060on \u200bTuesday.<\/p>\n

On Monday, two other men linked \u200cto the \u2060same opposition group were executed. – Reuters<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Macron due in Japan for talks dominated by Iran war \"France'sFrance’s president Emmanuel Macron follows the coffin at the end of a national tribute to former French prime minister Lionel Jospin at the Hotel des Invalides in Paris on March 26th, 2026. Photograph: Ludovic MARIN \/ POOL \/ AFP via Getty Images <\/p>\n

French president Emmanuel Macron arrives in Japan on Tuesday for a visit that initially aimed to strengthen partnerships in nuclear energy and space innovation but will now be dominated by the Middle East war. <\/p>\n

Macron will hold talks with prime minister Sanae Takaichi on Wednesday and \u201cthe crisis in the Middle East will be at the heart of discussions\u201d, the \u00c9lys\u00e9e Palace said ahead of the trip.<\/p>\n

It added that the two leaders would discuss \u201chow we can try to find common solutions\u201d, reports Agence France-Presse. <\/p>\n

Japan depends on the Middle East for 95 per cent of its oil imports and has had to dip into strategic stockpiles to temper the impact of rising fuel prices since the start of the war. <\/p>\n

Economy and finance ministers of G7 countries, which include France and Japan, said on Monday they stood ready to take \u201call necessary measures\u201d to ensure the stability of the energy market as they tackled the economic consequences of the war. – Guardian<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Japan and Indonesia pledge deeper ties amid energy concerns<\/p>\n

Japan and Indonesia have agreed to step up co-ordination on energy security, Japanese prime minister Sanae Takaichi said on Tuesday. <\/p>\n

\u201cIn light of the Iran situation, the strategic importance of resources and energy security is once again being recognised globally. Indonesia is a major resource-rich nation,\u201d Takaichi said alongside Indonesian president Prabowo Subianto after they met for talks in Tokyo. <\/p>\n

The summit came as the US-Israeli war on Iran squeezes oil and gas supplies vital to Asia. <\/p>\n

Indonesia is the world\u2019s biggest exporter of thermal coal for power generation, supplying about half of global exports, Reuters reports. <\/p>\n

It is also a major liquefied natural gas exporter, with roughly a quarter of its shipments bound for Japan. – Guardian<\/p>\n

Katie Mellett – 2 hours ago<\/p>\n

Israel finishes \u2018another wave\u2019 of strikes in Tehran \"TheThe aftermath of Israeli-US airstrikes in Tehran, Iran, on Monday, March 30th, 2026. Photograph: Arash Khamooshi\/The New York Times<\/p>\n

The Israeli military says it has \u201cjust completed another wave of strikes\u201d targeting Iranian regime infrastructure in the heart of Tehran. <\/p>\n

The post on social media also said the military \u201ccontinues to deepen the damage\u201d to the infrastructure. – Guardian<\/p>\n

Katie Mellett – 3 hours ago<\/p>\n

Oil prices soar to record monthy increase<\/p>\n

Oil prices were set for a record monthly rise on Tuesday while Asian shares were headed for their steepest fall in six years, capping a tumultuous month as the \u200cwar in the Middle East stoked fears of higher inflation and slower growth.<\/p>\n

Bonds were headed for their largest decline in months, owing to the hawkish sea change in the global outlook for interest rates, while the dollar was on the \u200bcusp of its strongest gain in eight months.<\/p>\n

A month into the war, investors continue to be confronted by a barrage of headlines as tensions and attacks between the US, Israel and Iran escalate.<\/p>\n

\u201cIt appears markets have gone from just mechanically trading headlines … into a little bit more of a fear mode, taking risk off the table,\u201d said Vishnu Varathan, Mizuho\u2019s head of macro research for Asia ex-Japan.<\/p>\n

Markets turned a little more upbeat after the Wall Street Journal reported that US president \u2060Donald Trump told aides he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed.<\/p>\n

Nasdaq futures were up 0.73 per cent and \u200cS&P \u200c500 \u200bfutures rose 0.84 per cent. EUROSTOXX 50 futures advanced 0.35 per cent, while DAX futures gained 0.48 per cent.<\/p>\n

Brent crude futures pared gains and were last up 0.24 per cent at $113.05 a barrel, on track for a 56 per cent rise this month, the largest on record.<\/p>\n

US crude was little changed at $102.98 a barrel, though it was still headed for \u2060a monthly rise of roughly 54 per cent, the most in nearly six years.<\/p>\n

Katie Mellett – 3 hours ago<\/p>\n

Why Donald Trump is like a child pulling the wings off flies<\/p>\n

In his opinion column today, Fintan O\u2019Toole<\/a> addresses Donald Trump\u2019s<\/a> strategy against Iran. He writes that everyone with the slightest interest in the history of modern warfare knows that mass bombing doesn\u2019t work. <\/p>\n

\u201cShort, sharp, decisive \u2013 this is the illusion that lured the present US president into his disastrous war on Iran,” writes O\u2019Toole. <\/p>\n

\u201cThe wide gap between ambition and outcome \u2013 this is the measure of his folly. That gap is an abyss into which human lives are hurled: as of last Sunday, according to the independent Iranian Human Rights Activists News Agency, at least 236 children had been killed by US and Israeli bombing. But it is nonetheless a strategic void.\u201d<\/p>\n

\"USUS defence secretary Pete Hegseth looks on as US president Donald Trump speaks. Photograph: Jim Watson\/Getty Mark Schiefelbein\/AP <\/p>\n

Katie Mellett – 3 hours ago<\/p>\n

Four Israeli soldiers killed in southern Lebanon <\/p>\n

The Israeli military said on Tuesday four soldiers had been killed in combat in southern Lebanon<\/a>, where its forces are clashing with the Iran-backed Hizbullah. <\/p>\n

An Israel Defence Forces<\/a> statement named three soldiers from the same battalion who \u201cfell during combat\u201d and a separate statement said another soldier \u2013 who had not yet been publicly named \u2013 had died in the same incident, Agence France-Presse is reporting. <\/p>\n

Another soldier was severely wounded and a reservist moderately wounded, a second statement said.<\/p>\n

\"AA destroyed apartment building that was struck in an Israeli airstrike in Dahiyeh, Beirut\u2019s southern suburbs. Photograph: Hassan Ammar\/AP <\/p>\n

Katie Mellett – 3 hours ago<\/p>\n

Giant oil tanker off Dubai hit by Iranian strike<\/p>\n

Iran attacked and set ablaze a fully loaded crude \u200coil tanker off Dubai on Monday, as Donald Trump <\/a>warned the US would obliterate Iran\u2019s<\/a> energy plants and oil wells if it does not open the Strait of Hormuz.<\/a><\/p>\n

The strike on the Kuwait-flagged Al-Salmi is the latest in a string of assaults on merchant vessels by missiles or explosive air and sea \u200bdrones in the Gulf and Strait of Hormuz since the US and Israel attacked Iran on February 28.<\/p>\n

The month-long conflict has spread across the Middle East, killing thousands, disrupting energy supplies and threatening to send the global economy into a tailspin.<\/p>\n

Crude oil prices briefly spiked anew after the attack on the tanker, which can carry around 2 million barrels of oil worth more than $200 million at current prices.<\/p>\n

Kuwait Petroleum Corp, the ship\u2019s owner, said the attack happened early on Tuesday, causing a fire and hull damage, but there were no reported injuries.<\/p>\n

Authorities in Dubai later said they had been able to bring the fire \u200bunder control following a drone attack on the tanker. No injuries have been reported, they said.<\/p>\n