Energy

April 5 (UPI) — Members of the Organization of the Petroleum Exporting Countries said Sunday they will again modestly boost oil production as war rages in Iran and the Persian Gulf, although the move is largely symbolic as the Strait of Hormuz remains closed.

As first they did in March, the eight OPEC+ countries — Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman — on Sunday agreed to a 206,000 barrel-per-day production increase amid attacks by Iran on the oil and gas facilities of several of its members in the Persian Gulf.

Iran has blocked the key Strait of Hormuz shipping lane in response to the American and Israel attacks that started on Feb. 28.

Since then the global price of oil has shot up by close to 60% while gas prices at the pump in the United States have surpassed $4 per gallon.

Although the waterway remains choked off, the OPEC+ move indicated producers will likely ramp up production to help alleviate the worldwide oil shock once the Strait is reopened and production facilities in the Gulf states are secured from Iranian drones and missiles.

U.S. President Donald Trump on Sunday continued to threaten Iran with destruction of civilian and military infrastructure by Tuesday unless Tehran loosens its grip on the Strait.

But Iran has remained defiant, continuing to launch drone attacks against OPEC members who host U.S. military facilities, particularly targeting Kuwait, Bahrain and the UAE, where critical infrastructure again came under attack on Sunday.

Damage was sustained at civilian facilities in all three countries, officials reported.

The Kuwait Petroleum Corp. announced “significant material losses” after Iranian drone attacks on several of its facilities, the KUNA news agency reported.

Meanwhile, Kuwaiti Interior Ministry spokesman Brig. Gen. Nasser Bousleib said officials had registered nine reports of falling shrapnel during the preceding 24 hours, boosting the total of such incidents since the beginning of the Iranian aggression to 678.

Ho Chi Minh City, Vietnam – After a long day of ferrying passengers to and fro recently, e-hailing driver Nguyen was dejected to find he had spent half of his earnings on fuel.

“I drove for around seven or eight hours, making around 240,000 Vietnamese dong [$9.11] and then I paid 120,000 Vietnamese dong [$4.56] on petrol,” Nguyen, a motorcyclist who connects with passengers via the locally developed super-app Be, told Al Jazeera, asking not to be identified by his real name.

“I can’t survive with this amount of money in the city.”

In Vietnam, the ripples of the US-Israel war on Iran are hitting many gig workers hard.

The Southeast Asian country normally sources about 80 percent of its crude oil from Kuwait, but shipments have dried up amid Iran’s effective blockade of the Strait of Hormuz, driving up fuel prices.

Diesel prices have more than doubled, while petrol prices have risen almost 30 percent, making getting from point A to point B an increasingly expensive proposition in cities such as Ho Chi Minh City, home to more than 7 million motorcycles.

“Because the petrol price is so high, so many drivers are turning off the app, going home and just not working,” Nguyen said.

“After today, I will turn off the app and stop working for a few days to see if the price goes down or if the government is helping in any way.”

Vietnam’s government has rolled out a series of emergency measures to cushion the blow for citizens.

Prime Minister Pham Minh Chinh last month announced that an environmental tax on diesel, petrol, and aviation fuel would be suspended until April 15 to help stabilise prices.

Nguyen Khac Giang, a Vietnamese-born visiting fellow at the ISEAS-Yusof Ishak Institute in Singapore, said authorities had been forced to act to stave off rising disgruntlement among citizens.

“There are a lot of complaints and frustrations about rising living costs, because gas prices are everything in Vietnam,” Giang told Al Jazeera.

“It’s not only necessary in terms of making the population feel relief about the rise of gas prices, but at the same time, it will keep the macroeconomic stability intact, given the turbulence outside Vietnam.”

Despite the government sacrificing an estimated $273m in revenue via the tax cut, signs of strain are mounting across the economy.

Public transportation is stretched to capacity in major cities, while domestic carriers such as Vietnam Airlines and Vietjet Air have slashed flights.

“As a very, very open economy, Vietnam is super vulnerable to international shocks,” Giang said.

Gig workers have been particularly exposed due to the double whammy of heavy fuel consumption and minimal labour protections.

“Their income is changeable due to factors beyond their control,” Do Hai Ha, a research fellow at the University of Melbourne who has studied Vietnam’s gig platforms, told Al Jazeera.

“They have no chance to negotiate with the platforms.”

Many drivers have had no choice but to work longer hours as they are “excluded from labour protection, so there’s no guarantee in terms of minimum wages or overtime pay”, Do said.

Companies, too, are feeling the crunch.

Anh Dao, who collects fares on Ho Chi Minh City’s bus route 13, said the bus operator has been losing money due to the surge in diesel prices, despite raising ticket prices by 3,000 Vietnamese dong ($0.11).

“As we already signed the contract, we cannot just stop running the buses,” Ahn told Al Jazeera.

For one fisherman in the coastal region of Binh Thuan, about 200km (124 miles) from Ho Chi Minh City, rising fuel costs have prompted a frantic search for cheaper options to power his basket boat.

“Now that fuel prices are rising, it’s having a big impact,” the fisherman told Al Jazeera, asking not to be identified by name. The middlemen he does business with have been citing weak demand to justify offering lower prices for his catch, he said.

“What I was usually able to sell for 800,000 Vietnamese dong [$30] is now only selling for 650,000 Vietnamese dong [$24],” he said.

Families kept apart

For some low-income families, the rising costs are reshaping daily life in other ways.

After a weeklong trip to the Mekong Delta region, Uyen Pham, a communications manager for the Saigon Children’s Charity, said she has seen the strain firsthand.

“Several parents noted that the cost of bottled cooking gas has nearly doubled,” Pham told Al Jazeera.

“Most of our beneficiary families have always relied on wood-fired stoves or a hybrid of wood and gas to save money. With the recent price hike, they are now strictly limiting their gas usage even further, relying almost entirely on wood to cut every possible expense.”

For many parents, the rising fuel costs have also meant less time with family.

“Many parents in remote areas must leave their children with grandparents to work in cities,” Pham said.

“Rising fuel prices directly increase their commuting costs, while manual labour wages remain stagnant. This pinches their take-home pay and, in some cases, reduces how often they can afford to travel home to see their children.”

For the government in Hanoi, the price volatility has intensified the focus on greater energy independence, Giang, the visiting fellow, said.

“The longer-term question this crisis has enacted is a very important question about the strategic autonomy of Vietnam in terms of energy dependencies, especially when we are a net importer of oil,” he said.

Policymakers will need to “more aggressively accelerate Vietnam’s energy independence by building more refineries,” Giang said, “because now we only have two refineries, which is not enough for the Vietnamese market.”

With long-term solutions likely to take years to come to fruition, authorities are scrambling for short-term fixes.

Late last month, Vietnam’s prime minister and a delegation from the Ministry of Industry and Trade visited on the Nghi Son Refinery and Petrochemical Complex, the country’s largest refinery, in Thanh Hoa, a coastal city about 1,500km (932 miles) north of Ho Chi Minh City.

During their visit, officials said the refinery, which supplies about 40 percent of Vietnam’s petrol needs, would urgently need to find alternative sources of crude, as current supplies were expected to run out by the end of May.

The war on Iran also appears to be reshaping at least some domestic investment.

Vingroup, Vietnam’s largest conglomerate, last month informed authorities that it wanted to halt plans to build the country’s largest liquefied gas-fired power plant and put the funds towards a renewable energy project instead, according to a letter reported by the Bloomberg and Reuters news agencies.

In the letter, the company cited “the significant risk of high fuel prices for LNG power projects” due to the war.

In the meantime, Duy, who works at a cafe tucked behind a Ho Chi Minh City petrol station, is feeling some relief after the government’s fuel tax cut, which authorities projected would reduce petrol prices by about one-quarter and diesel prices by about 5 percent.

“I usually pay 100,000 Vietnamese dong [$3.80] a week on gas, but at the peak of the high prices a few days ago, it was almost double that,” she told Al Jazeera.

“It affected my income.”

Additional reporting by Nguyen Hao Thanh Thao

In a trip that included visits to Saudi Arabia, Qatar and the UAE to discuss tensions brought about by the US-Israeli war on Iran, Italian PM Meloni emphasized the importance of the Gulf to Italian and European national security.

Tehran says Iraq will face no restrictions in waterway, praising country’s ‘struggle’ against the US.

Iran has announced that Iraqi ships are free to pass the Strait of Hormuz, the latest sign of Tehran easing its stranglehold on the critical conduit for global energy supplies.

Iraq will be exempt from all restrictions in the strait, with controls only applying to “enemy countries”, Iran’s Khatam al-Anbiya Central Headquarters said in a statement on Saturday.

“We hold profound respect for Iraq’s national sovereignty,” the military command said in the statement carried by the semi-official Tasnim News Agency.

“You are a nation that bears the scars of American occupation, and your struggle against the US is worthy of praise and admiration.”

Iran’s announcement came as US President Donald Trump reiterated his demands for Tehran to make a deal or relinquish control of the waterway, warning in a social media post that “all hell” would rain down within 48 hours otherwise.

Iran’s Khatam al-Anbiya Central Headquarters rejected Trump’s demand, calling his threat a “helpless, nervous, unbalanced and stupid action”.

Iran has effectively blockaded the strait, which usually carries about one-fifth of global oil and liquified natural gas supplies, since the US and Israel launched their war on the country on February 28.

While maritime traffic has ticked up in recent weeks under a de facto toll booth system imposed by Tehran, it is still down more than 90 percent from normal levels, according to ship tracking data.

According to Lloyd’s List Intelligence, there were 53 transits through the strait last week, up from 36 the previous week and the most since the war began.

The collapse of shipping in the waterway has thrown a wrench in global energy markets, pushing up fuel prices and prompting authorities in many countries to roll out emergency energy conservation measures.

Brent crude, the international benchmark, has hovered above $109 a barrel in recent days, with many analysts predicting prices to surge much higher if the waterway is not unblocked soon.

Iraq’s oil production, which provides most of Baghdad’s revenues, has been hit especially hard by the war.

Iraq’s oil ministry announced last month that production had fallen to 1.2 million barrels a day, down from 4.3 million barrels, amid declining crude shortage capacity due to the effective halt of exports through the strait.

Iraq was the world’s six-biggest oil producer in 2023, accounting for 4 percent of global supply, according to the US Energy Information Administration.

April 4 (UPI) — President Donald Trump on Saturday reminded Iran that his 10-day deadline for it to reopen the Strait of Hormuz is 48 hours away and “all Hell will reign down” if the trade route is not made passable.

Trump said on March 26 that he had given Iran 10 days to start allowing ships to transit the Strait of Hormuz, through which roughly 20% of the world’s oil and gas supply travels, or he would direct the U.S. military to attack the nations energy sites.

Iran on Wednesday requested a ceasefire in the war launched in February by the United States and Israel, which Trump said he would consider when the Strait is “open, free and clear.”

Saturday morning, in a post on Truth Social, Trump reiterated his expected time frame for the Strait to open, the deadline for which is April 6.

“Remember when I gave Iran ten days to MAKE A DEAL or OPEN UP THE HORMUZ STRAIT,” Trump said. “Time is running out — 48 hours before all Hell will reign [sic] down on them. Glory be to GOD!”

U.S. Sen. Lindsey Graham, R-S.C., said later Saturday after speaking with Trump that he is “convinced that he will use overwhelming military force against the regime if they continue to impede the Strait of Hormuz and refuse a diplomatic solution to achieve our military objectives,” Axios reported.

Iran’s Gen. Ali Abdollah Aliabadi in a statement reportedly called Trump’s post “a helpless, nervous, unbalanced and stupid action,” and then Aliabadi returned Trump’s threat that “the gates of hell will open for you.”

In indirect negotiations, Iran has said that it would not accept a temporary ceasefire, and instead wants an end to the war and promises that the United States and Israel will not stage future attacks against it.

April 3 (UPI) — A French-owned shipping vessel on Friday was the first Western ship permitted to transit the Strait of Hormuz since the United States and Israel started the war in Iran.

The container ship, owned by the company CMA CGM, is one of several that were permitted to transit the Strait after weeks of Iran permitting few, if any, vessels to pass through it.

The French ship sailed under the flag of Malta and is believed to have been idling in the Persian Gulf since early March, similar to many other vessels, after Iran choked off non-Iranian traffic in response to the war.

The ship switched on its transponder and looked to leave the gulf Thursday afternoon after Iran permitted several ships to transit the Strait, Euronews and The Guardian reported.

The other vessels were three tankers, at least one of which was a liquefied natural gas tanker with a Panamian flag that is owned by a Japanese company.

The Strait of Hormuz is one of the busiest trade routes in the world and, among other things that are shipped through it, sees roughly 20% of the world’s oil and gas supply transit daily under normal circumstances.

The United States has discussed sending U.S. Navy vessels to escort ships through the Strait, although that could be expensive, time consuming and put U.S. troops and assets in danger. Other nations — including Britain — were beginning to look for ways to move vessels through the Strait regardless of the war in Iran.

France, for example, struck a deal with South Korea on Friday to work together to secure safe passage for their vessels through the strait.

Both nations rely on oil and gas from the region, on top of other parts of the global supply chain in which they participate, and said they are working together to deal with the economic and energy crises that have been triggered by the war in Iran.

Prime Minister Meloni is the first EU and NATO country leader to visit the region since the war began.

Italian Prime Minister Giorgia Meloni has met Qatar’s Emir Sheikh Tamim bin Hamad Al Thani in Doha to discuss the energy crisis due to the ongoing United States and Israeli war on Iran.

Meloni met the Qatari leader on Saturday in Doha, the second stop on a regional tour that began in Saudi Arabia the previous day and continues with a visit to the United Arab Emirates.

The leaders “tackled energy issues … and discussed possible measures to mitigate the shocks suffered”, according to a statement from her office.

Meloni told the Qatari leader that Rome was ready to “contribute to the rehabilitation of Qatari energy infrastructure, which is essential to energy security on a global scale”, the statement added.

Italy is highly dependent on energy imports and is concerned about rising energy prices that have resulted from Iran’s effective blocking of the Strait of Hormuz, a key waterway through which some 20 percent of global oil and liquified natural gas transits.

The Qatari emir’s office said in a statement that both sides had “stressed the need to work towards de-escalation”.

“And prioritise political dialogue and diplomacy as the best way to contain the current crisis in the Middle East and its repercussions on energy and supply chains, and to safeguard energy security in the region,” the statement said.

“They also reviewed bilateral cooperation between the two countries and ways to support and develop it in various fields, particularly in the economy and energy,” it added.

Since the beginning of the war at the end of February, Iran has targeted US and Israeli targets in the region, in addition to targeting Gulf countries, including Qatar.

Iran has targeted Qatar’s energy installations, including a missile strike on Ras Laffan Industrial City, the country’s main gas facility, that caused “significant damage”. Doha says the attacks will affect its natural gas export capacity.

An Italian government source told the AFP news agency that Meloni’s trip to the Gulf aimed to “strengthen relations with these countries and repeat Italy’s support against Iranian attacks”.

The source added that the region was a “crucial source of oil and gas for Italy” and that Meloni is the first leader of a European Union or NATO country to travel to the region since the war broke out.

After meeting the Qatari emir, Meloni travelled to the United Arab Emirates, where she was received by President Mohamed bin Zayed Al Nahyan.

April 3 (Asia Today) — South Korea’s major business groups on Thursday pledged to support government efforts to stabilize energy supply, announcing voluntary measures to reduce consumption as risks grow from instability in the Middle East.

Six economic organizations – including the Korea Economic Association, the Korea Chamber of Commerce and Industry and other industry groups – said in a joint statement they would take part in nationwide conservation efforts.

“We strongly agree with the government’s call to ensure stable energy supply and promote conservation in preparation for a prolonged Middle East conflict,” the groups said. “We will actively participate in efforts to overcome the crisis.”

The statement comes as the government raised its energy security alert level and introduced additional conservation measures, including expanded vehicle restrictions at public institutions.

Business leaders said ensuring stable energy supplies and improving efficiency have become more urgent than ever, pledging to expand private-sector efforts.

Proposed measures include broader use of flexible work arrangements, such as staggered commuting hours, to reduce traffic demand and energy consumption. Companies also plan to improve manufacturing efficiency and optimize facility operations to cut energy use.

Additional steps include turning off office lighting during lunch breaks and after work hours, as well as encouraging employees to use public transportation.

The groups emphasized that coordinated action among the government, businesses and the public will be essential to address the crisis.

“Voluntary participation is key to spreading a culture of energy conservation,” the statement said, adding that the private sector would play an active role in responding to the situation.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260403010001104

Islamabad, Pakistan – At the start of this year, Pakistan had more imported liquefied natural gas (LNG) than it could use. Demand had been falling for three straight years, from a peak of 8.2 million tonnes in 2021 to 6.1 million tonnes by late 2025, as cheap solar panels flooded the market and factories cut back.

The government quietly sold excess gas shipments to other countries and shut down domestic gas wells to prevent pipelines from bursting under the pressure of oversupply. Gas that could not be diverted would be pushed into household networks at a financial loss, adding billions to an already crippling debt pile in the energy sector.

Then the war came. On February 28, the United States and Israel launched hundreds of strikes against Iran in an operation named Epic Fury. The strikes targeted Iranian missiles, air defences, military infrastructure and leadership. Supreme Leader Ali Khamenei was killed in the opening assault.

Iran retaliated by firing hundreds of missiles and drones across the region, and as a result, traffic passing the Strait of Hormuz, the narrow waterway through which roughly a fifth of the world’s oil and gas passes, almost came to a halt.

The energy consequences were immediate. As a part of its retaliation against US-Israeli attacks, on March 2, Iranian drones hit Qatar’s gas facilities at Ras Laffan Industrial City, the world’s largest LNG export complex.

Qatar, the world’s second-largest LNG exporter after the United States, halted all production and declared force majeure, a legal term meaning it was released from delivery obligations due to circumstances beyond its control.

The conflict escalated further on March 18, when Israel struck Iran’s South Pars gas field, the largest in the world, off Iran’s southern coast.

South Pars and Qatar’s North Field sit above the same underground reservoir, meaning the attack threatened both countries’ gas production simultaneously. Iran struck Ras Laffan again in retaliation.

QatarEnergy said that the hit had forced it to cut LNG production by 17 percent, with repairs expected to take up to five years.

Brent crude, the industry benchmark, was priced at more than $109 a barrel on Thursday,

Oil prices on Thursday climbed to $109 a barrel, while European gas prices jumped 6 percent in a single trading session.

For Pakistan, which secures nearly all its imported gas from Qatar and the United Arab Emirates, and holds no emergency reserves, the shift from surplus to shortage happened almost overnight.

A system built on imports

Pakistan meets its daily gas needs from three main sources. The bulk, about 2,700 million cubic feet per day, comes from domestic gas fields that have been in slow decline for years.

The rest comes from imported LNG, supplied by Qatar under long-term contracts, adding roughly 600 million cubic feet per day when shipments flow normally.

The third source is bottled LPG, used mainly by households in rural areas not connected to the pipeline network. Pakistan gets more than 60 percent of its LPG from Iran, a supply also disrupted by the conflict.

Pakistan began importing LNG in 2015 when domestic production could no longer meet demand. Today, imported LNG powers roughly a quarter of the country’s electricity, with the power sector its largest consumer.

Qatar and the UAE together account for 99 percent of Pakistan’s LNG imports, according to energy analytics firm Kpler.

Of that, Pakistan’s LNG supply is dominated by two long-term government-to-government agreements with Qatar, one spanning 15 years and the other 10. Together, they cover nine shipments a month.

From glut to scarcity

Monthly cargo data from Pakistan’s energy regulator, OGRA, reflects the impact of the war. The country received between eight and 12 LNG shipments a month through 2025 and into early 2026, with 12 arriving in January alone. In March, the month the war began, only two shipments arrived.

Prices have been affected too. According to data compiled by researcher Manzoor Ahmed of the Policy Research Institute for Equitable Development (PRIED), on February 13, state-owned entities Pakistan State Oil and Pakistan LNG Limited procured eight combined cargoes at an average cost of $10.47 per MMBtu, totalling $257.1m.

MMBtu is the standard international unit used to measure and price natural gas and LNG.

By March 12, the two cargoes that did arrive cost $12.49 per MMBtu, a 19 percent increase in a month, reflecting tightening global conditions even before the war’s full impact.

Pakistan had already been consuming less gas. Its share of Asian LNG markets fell from roughly 30 percent in 2020 to about 18 percent in 2025, driven largely by the rapid expansion of solar power. Millions of Pakistanis, frustrated by high electricity costs and frequent blackouts, have installed rooftop panels in recent years.

By 2025, the country had 34 gigawatts of solar capacity, with an estimated 25 gigawatts feeding into the national grid. Overall electricity demand from the grid fell nearly 11 percent between 2022 and 2025.

Gas-fired power plants built to run on imported LNG were left underutilised, especially during daylight hours.

“Of course, solarisation helps manage daytime demand, reducing the need for running thermal power plants,” said Haneea Isaad, an energy analyst at the Institute for Energy Economics and Financial Analysis (IEEFA), who has tracked Pakistan’s gas sector for years.

But the contracts with overseas gas suppliers still needed to be adhered to — so Pakistan kept buying and paying, she told Al Jazeera.

Ahmed of PRIED pointed to two compounding challenges. First, the nature of Pakistan’s gas supply contracts were such that the government had to “buy LNG even when demand collapsed,” he told Al Jazeera.

Second, “rapid solar growth and suppressed grid demand were underestimated, and their effect on overall planning was not accounted for,” the Islamabad-based analyst added.

LNG consumption dropped by 1.21 million tonnes in 2025 alone. With no large storage capacity, surplus gas was pushed into domestic pipelines at a loss.

The resulting circular debt in the gas sector now stands at 3.3 trillion rupees, approximately $11bn. By January, Islamabad was negotiating to offload 177 unwanted gas shipments projected through 2031, a liability of $5.6bn.

Isaad of IEEFA said the surplus was predictable.

“Pakistan’s energy planning has mostly been bound by long-term contracts with very little flexibility,” she said. Once considered necessary for energy security, these rigid contracts, she added, have become a financial albatross in a market increasingly prioritising flexibility and low-cost generation.

She described the government’s pre-war response, diverting excess cargoes, as “reactive crisis management” that prioritised short-term fixes over better forecasting and procurement flexibility.

Supply shock

Qatar’s LNG shipments to Pakistan have stopped almost completely since March 2. Of the eight shipments scheduled that month, only two arrived. The six expected in April are unlikely to reach the country.

At a public hearing of the National Electric Power Regulatory Authority, Central Power Purchasing Agency chief executive Rehan Akhtar said LNG supplies were under force majeure, though coal imports from South Africa and Indonesia remained unaffected.

Officials have warned of near-zero LNG availability in the coming months, even if the war ends quickly. LNG accounts for more than 21 percent of Pakistan’s power generation.

“With Pakistan’s LNG supply completely halted after Qatar’s declaration of force majeure, LNG plants are effectively out of the running order,” Isaad said.

The government has responded by restoring domestic gas production that had been deliberately curtailed during the surplus period.

Isaad said Pakistan had been holding back roughly 350 to 400 million cubic feet per day of domestic gas to accommodate LNG imports.

“There will also be the option to rely on other power generation sources such as imported coal and hydropower,” she added. But, she warned, “even with hydropower, imported coal and restored domestic gas production covering some of the gaps left by LNG, there might still be an energy shortage.”

For now, mild weather and increased solar output have provided temporary relief.

“So far, Pakistan has somehow miraculously survived any prolonged energy shortages in the power sector through a combination of mild weather and a pre-existing reduced reliance on imported LNG,” Isaad said. “But peak summer months may be a different story.”

Summer pressure

With an energy crisis looming, Pakistan is bracing for a few hours of daily planned power cuts this summer, alongside other energy conservation measures and higher electricity costs.

According to the National Electric Power Regulatory Authority’s State of Industry Report 2025, peak electricity demand last summer exceeded 33,000 megawatts.

Winter demand currently stands at about 15,000 megawatts, partly because solar panels now generate between 9,000 and 10,000 megawatts daily, reducing reliance on the grid.

Furnace oil, the main backup fuel, now costs 35 rupees per unit, about $0.12, and its price has more than doubled since the Strait of Hormuz disruption.

Analysts say the burden will fall unevenly. Consumers reliant on grid electricity will face both higher bills and outages, while industries dependent on gas will see production disruptions. Those with rooftop solar and battery storage will be best insulated.

Isaad is blunt about the options before Pakistan. “Returning to the spot market might not be feasible, given the dire financial consequences,” she said. “Even if it does, competition with wealthier nations may once again price Pakistan out. Furnace oil could be another option, but that will be prohibitively expensive to run.

“The only option the government may be left with is load-shedding [planned power blackouts], probably around two to three hours daily.”

Fuel shocks from the US-Israel war on Iran are rippling worldwide, as Strait of Hormuz disruptions push prices higher. From Nigeria to Vietnam and India, workers face soaring costs, longer hours and lost jobs amid a deepening global energy crisis.

April 1 (UPI) — Bolivia’s government, led by President Rodrigo Paz, said it has uncovered an international criminal network responsible for sabotaging and adulterating imported fuel shipments that entered the country over the past five months.

Interior Minister Marco Antonio Oviedo told a news conference Tuesday that at least 150 million liters of gasoline and diesel were tampered with, citing an official investigation that identified a scheme involving fuel theft and contamination with water and oil in Chilean territory.

Authorities said the operation targeted tanker trucks transporting fuel to Bolivia, particularly in northern Chilean cities. In those locations, part of the fuel was allegedly siphoned off and replaced with a mixture of water and oil, according to local broadcaster Unitel.

President Paz said the adulteration began around October.

Investigators believe the network operated mainly in Chile, with additional links and operational hubs in Paraguay and Argentina. The direct economic loss to the Bolivian state is estimated at $150 million, excluding indirect costs linked to transport disruptions.

Consumers also have felt the impact. More than 10,000 vehicle owners, including long-distance transport operators and private drivers, have reported severe engine damage.

“We are facing an attack against the assets of Bolivian families,” Paz said, adding that the government will pursue legal mechanisms to compensate those affected, according to local newspaper El Deber.

Bolivia’s landlocked status makes transporting fuel from Chile critical to its energy supply chain. The country relies on Chilean ports such as Arica, Iquique and Mejillones to receive international shipments of crude oil and refined products.

After a virtual meeting Tuesday, Paz and Chilean President José Antonio Kast agreed on a joint roadmap to dismantle the transnational organized crime network behind the fuel adulteration, according to Bolivia’s state-run broadcaster BTV.

As an immediate response, Bolivia announced tighter controls at facilities operated by state energy company Yacimientos Petrolíferos Fiscales Bolivianos, known as YPFB, and the National Hydrocarbons Agency. Authorities will implement mandatory laboratory testing at production sites and border checkpoints.

Civil society groups have called for accountability as the investigation continues, urging authorities to prosecute those responsible abroad and to address potential internal failures that allowed the sabotage to go undetected for months.

The crisis comes as Bolivia faces a severe fuel supply shortage. After a structural decline in domestic hydrocarbon production, which fell about 44% between 2014 and 2024, the country shifted from a net exporter to a heavily import-dependent market. Bolivia now imports about 90% of the diesel and 50% of the gasoline it consumes.

The situation has worsened since 2023 due to a shortage of foreign currency, particularly U.S. dollars, complicating payments to international suppliers and contributing to intermittent shortages and partial disruptions in transport and productive sectors.

One nation that’s hoping to gain from the United States-Israel war on Iran is Russia, the world’s third largest oil producer. Higher crude prices due to the disruption in the Strait of Hormuz have allowed Russia to earn more from its oil and gas exports. A sanctions waiver announced by the US is also helping Moscow.
But its revised budget plans are at risk after repeated Ukrainian attacks on its ports and oil refineries. Russia has banned petrol exports to protect against domestic fuel shortages. So can Russia help fill the global energy gap, or is its capacity already under threat?

A Russian tanker has delivered enough fuel to meet Cuba’s energy needs for up to 10 days, following a three-month blockade.

A Russia-flagged tanker carrying 730,000 barrels of oil has docked in Cuba, marking the first time in three months that an oil tanker has reached the island nation.

The administration of United States President Donald Trump allowed the Anatoly Kolodkin to proceed despite an ongoing US energy blockade. The Aframax tanker entered the Bay of Matanzas – the country’s largest supertanker and fuel storage port – on Tuesday at daybreak.

The vessel, under US sanctions, entered Cuban territorial waters late on Sunday, not far from the US Navy base at Guantanamo Bay. The United States said it was allowing the tanker to deliver fuel for humanitarian reasons.

The Anatoly Kolodkin entered the Bay of Matanzas under clear skies and light winds at sunrise. Much of the nearby city – and the majority of Cuba – was without power when the tanker arrived at the port area.

Cuba has not received an oil tanker in three months, according to President Miguel Diaz-Canel, exacerbating an energy crisis that has led to seemingly endless blackouts across the country of 10 million people and brought hospitals, public transportation, and farm production to the brink of collapse.

Cubans, including Energy and Mines Minister Vicente de la O Levy, cheered the ship’s arrival. A shortage of petroleum has exacerbated a deep economic crisis, leaving the population mired in long blackouts and facing severe shortages of food and medicine.

“Our gratitude to the Government and People of Russia for all the support we are receiving. A valuable shipment that arrives amidst the complex energy situation we are facing,” de la O Levy wrote on X.

The fuel, if delivered, would give Cuba’s communist-run government breathing room amid growing pressure from the Trump administration, which has promised change in Cuba.

It will take days before the crude on board the Anatoly Kolodkin can be processed domestically and turned into motor fuel and refined products, such as diesel and fuel oil for power generation.

The ship is carrying Russian Urals, a medium sour crude, which is a good fit for Cuba’s ageing refineries.

Cuba produces barely 40 percent of its required fuel and relies on imports to sustain its energy grid. Experts say the anticipated shipment could produce about 180,000 barrels of diesel, enough to feed Cuba’s daily demand for nine or 10 days.

Cuba used to receive most of its oil from Venezuela, but those shipments have been halted ever since the US attacked the South American country and abducted its leader, Nicolas Maduro, in early January.

The disruption in the Strait of Hormuz has cut access to one-fifth of the world’s oil and gas supply, leaving many countries scrambling for alternatives.

So what can they rely on to make up for the shortfall in a quick time?

Many Asian countries are turning to coal, reopening shuttered plants and expanding production.

Policymakers say immediate energy needs supplant environmental concerns.

Others are hoping to turn to renewables. Solar power is now the cheapest form of electricity in many parts of the world. But renewables, especially wind, have faced hostility from the Trump administration.

LAS VEGAS — The Super Bowl will return to Las Vegas in 2029 for the second time after NFL owners voted Monday to award the nation’s gambling and entertainment capital the big game.

Las Vegas getting the Super Bowl back seemed only like a matter of time after Kansas City defeated San Francisco 25-22 in overtime at Allegiant Stadium in February 2024.

Commissioner Roger Goodell all but gave the return his blessing after the first Super Bowl in a city the league long shunned because of concerns about legalized sports betting.

“We’re excited to bring the Super Bowl back to Las Vegas and provide our fans another incredible experience in one of America’s greatest sport and entertainment destinations,” Goodell said in a statement.

“Super Bowl LVIII demonstrated the scale, energy and hospitality the city brings to global events, and we look forward to working alongside the Las Vegas Convention and Visitors Authority, the Raiders and the community to deliver an even greater experience this time around.”

The game will be broadcast by Fox.

Next year’s Super Bowl will be played at SoFi Stadium in Inglewood. Santa Clara was the site of this year’s game in which Seattle beat New England 29-13.

Atlanta will host the 2028 game.

WASHINGTON — President Trump threatened Monday to destroy vital Iranian energy and water infrastructure if a peace deal is not reached, as Tehran continued to deny negotiations were taking place and said it was preparing for a ground invasion following the arrival of thousands of American troops in the region.

If a ceasefire agreement is not reached quickly, the president said in a social media post, “We will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!).”

The threats came within hours of the president insisting on Sunday night that diplomatic efforts would “probably” lead to a deal soon, and that Iran had allowed 20 more oil cargo ships to pass through the Strait of Hormuz as a “sign of respect.”

Trump said the United States is in “serious discussions with A NEW, AND MORE REASONABLE, REGIME in Iran” but offered no details.

Iran, however, continued to throw cold water on the negotiations Monday when Esmail Baghaei, the foreign ministry spokesperson, dismissed the Trump administration’s terms as “unrealistic, unreasonable and excessive.”

“I do not know how many people in the United States take American diplomacy claims seriously. Our mission is clear, unlike the other side, which constantly changes its position,” he said in comments carried by the semi-official Iranian agency Tasnim News.

Baghaei said that there have been no direct negotiations, but only messages through intermediaries stating that the U.S. wants to confer.

On Saturday, the USS Tripoli, a naval warship, arrived in the Middle East carrying about 3,500 sailors and Marines and a transport of fighter planes. Earlier this month, the San Diego-based USS Boxer and two warships from the 11th Marine Expeditionary Unit departed from Camp Pendleton to join the buildup of troops in the region.

The deployments have made Iranian diplomatic envoys even more dubious that American peace efforts are sincere.

“The enemy publicly sends messages of negotiation and dialogue while secretly planning a ground offensive. [They] are nothing more than a cover to hide preparations for a land invasion,” Iran’s top lawmaker, Mohammad Bagher Qalibaf, said in a statement Sunday.

He added that Iranian forces were waiting for the arrival of American troops on the ground to “set them on fire” and “punish their regional partners forever,” according to state media.

As officials in both Washington and Tehran strike increasingly hard lines, neighboring countries are desperate for a truce.

Egyptian President Abdel Fattah Sisi pleaded with Trump to stop the war during a speech at an Egyptian energy conference on Monday.

“I tell President Trump: Nobody can stop the war in our region in the gulf but you,” Sisi said.

“Please, Mr. President, please. Please help us stop the war. You are capable of doing so.”

Egypt, though not directly involved in the war, has contended with its repercussions on energy, fertilizer and food prices, not to mention disruptions to shipping income Cairo receives through the Suez Canal.

“Wealthy countries might be able to absorb this, but for middle-income and fragile economies, it could have a very, very severe impact on their stability,” ‌Sisi said, noting that predictions of oil reaching $200 per barrel were “not an exaggeration.”

Egypt and Israel signed a peace treaty in 1979, which saw Israel return territory it seized during the 1967 war. Though the agreement is deeply unpopular with most Egyptians, it has held despite escalating tensions during Israel’s campaign against Hamas.

In December, the two nations formally announced a $35-billion agreement expanding Israel gas exports to Egypt. But the war with Iran has disrupted supplies, tripling the cost of imports, according to Egyptian officials.

Last week, the government ordered energy-saving measures for a one-month period, including early closing times for most commercial establishments as well as reductions in street lighting and allocations for government vehicles.

Jordan, another U.S. regional ally that is also energy-starved, took similar steps, enacting bans on air conditioning in government offices and private use of government vehicles.

Despite talks of negotiations, the fighting showed little sign of abating.

Trump’s call for peace followed a fresh round of U.S. and Israeli airstrikes on Iran Monday. Tehran retaliated by hitting a major water and power facility in Kuwait, and Saudi Arabia and the United Arab Emirates said they intercepted incoming Iranian missiles.

Two U.N. peacekeepers were killed on Monday when an “explosion of unknown origin” hit their vehicle near the village of Bani Hayyan, in south Lebanon.

The deaths mark the second fatal incident in two days involving the United Nations Interim Force in Lebanon, known as UNIFIL, a peacekeeping force established in 1978 and which later monitored cessation of hostilities between the two nations.

UNIFIL also reported a peacekeeper was killed Sunday night when a projectile exploded in a UNIFIL position.

“We do not know the origin of the projectile. We have launched an investigation to determine all of the circumstances,” a UNIFIL statement on Monday said.

Meanwhile, Israel continued its bombardment of Lebanon, hitting areas near the capital and in the country’s south. One strike targeted a Lebanese army checkpoint, killing a soldier, the Lebanese military said. Lebanese authorities said on Monday that the death toll since hostilities broke out between Hezbollah and Israel earlier this month continues to rise.

The Israeli military said one of its soldiers was killed in a Hezbollah anti-tank missile attack in southern Lebanon, which also wounded four other soldiers. Six soldiers have been killed since Israel restarted its campaign in Lebanon.

Hezbollah rockets also killed two civilians, according to Israeli health authorities.

Israel’s fire and rescue service said a fuel tanker and a building at the oil refinery in the northern city of Haifa were hit by debris from an intercepted missile, according to a report from Israeli daily the Times of Israel.

It was unclear whether the missile was launched by Iran, the Lebanese Shiite group Hezbollah or Yemen’s Houthi rebels.

Deaths from the conflict continue to rise, with 1,900 people killed in Iran, over 1,200 in Lebanon, 19 in Israel and 13 U.S. military members. Millions of people have been displaced from their homes in Iran and Lebanon.

Ceballos and Quinton reported from Washington, Bulos from Beirut.

United States President Donald Trump said on Sunday that he wishes to “take the oil” in Iran, as the US-Israel war against Iran enters its second month.

On Monday, President Trump threatened to target Iran’s energy infrastructure, including oil wells, if Tehran does not reopen the Strait of Hormuz, which has been under a de facto Iranian blockade for weeks, triggering a global energy crisis.

The Trump administration has unveiled no clear goal behind its military campaign against Iran, one of the world’s biggest oil producers and under US sanctions for decades.

Here is more about what Trump says, how much oil Iran has, and whether Trump could take it.

What has Trump said about Iran’s oil?

Trump told the Financial Times that his “preference would be to take the oil” in Iran and that US forces could seize Iran’s export hub at Kharg Island.

Kharg is a 22-square-kilometre (8.5-square-mile) coral outcrop in Iran’s Bushehr province. Closely guarded by the Islamic Revolutionary Guard Corps (IRGC), entry to the island is restricted to those with official security clearance.

Kharg processes 90 percent of Iran’s total oil exports, handling approximately 1.5 million barrels every day.

On March 14, Trump announced that the US Air Force had bombed Iranian military facilities on the island.

“For reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island. However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision,” Trump wrote on Truth Social.

Critics say the Trump administration was emboldened by the success of its brazen military operation in January to abduct Venezuelan President Nicolas Maduro from Caracas. Washington says it is now in control of Venezuela’s oil exports.

Earlier this month, Trump claimed that 100 ⁠million barrels of Venezuelan oil had been brought to refineries in Houston, Texas in the US. He added that ⁠an additional 100 ⁠million barrels of Venezuelan ⁠oil were on the way.

Ties between Venezuela, which has the world’s largest proven reserves of crude oil, and Washington had deteriorated under former President Hugo Chavez, who decided to nationalise the oil sector. Relations collapsed further under Maduro, who succeeded Chavez in 2013. Venezuela’s current interim president, Delcy Rodriguez, has since opened the sector for private investment.

How much oil does Iran have?

Iran is one of the world’s biggest oil producers.

The country holds the world’s second-largest proven natural gas reserves and the third-largest crude oil reserves, according to the United States Energy Information Administration.

Iran holds around 24 percent of the Middle East’s and 12 percent of the world’s proven oil reserves, with about 157 billion barrels of proven crude oil.

It is the ninth-largest oil producer globally, and the fourth-largest within the Organization of the Petroleum Exporting Countries (OPEC), producing about 3.3 million barrels of crude oil per day.

Before the war, Iran was exporting around two million barrels of crude and refined fuel each day, though its exports dropped dramatically after Trump slapped sanctions on Iran in 2018 during his first term in power. The Iran nuclear deal signed under US President Barack Obama in 2015 – the Joint Comprehensive Plan of Action (JCPOA) – placed limits on Iran’s nuclear programme in exchange for sanctions relief in place for decades.

The US cut diplomatic ties with Iran after pro-Washington ruler Shah Mohammad Reza Pahlavi was toppled in the 1979 Islamic Revolution and the subsequent hostage crisis involving US citizens.

Can the US seize Iranian oil?

The Pentagon is preparing for limited ground operations in Iran, potentially including raids on Kharg Island and coastal sites near the Strait of Hormuz, according to US officials quoted by the Washington Post newspaper.

The plans, which fall short of a full invasion, could involve raids in special operations and by conventional infantry troops, the newspaper reported on Saturday.

However, even if the US invades or occupies Kharg Island, this would not give the US access to Iranian oil.

In order to access Iranian oil, the US would have to occupy Iran’s oil production sites and refineries. In essence, the US would need to occupy mainland Iran.

What would it mean if the US were to take Iranian oil?

In 2023, Iran’s gross domestic product (GDP) was around $457.5bn, according to World Bank data.

In the same year, Iran’s net oil export revenues were estimated at $53bn.

That export figure is equivalent to roughly 12 percent of Iran’s GDP, although export revenues and GDP are not directly comparable.

At the same time, if the US were to lift sanctions on Iranian oil after seizing it, it could lead to a flow of more Iranian oil into global markets, bringing down oil prices.

Iran is one of the most heavily sanctioned countries in the world. The US first imposed sanctions on Iran in November 1979, after Iranian students stormed its embassy in Tehran and took Americans hostage. The hostage crisis ended when dozens of US citizens were released after more than a year.

The US-Israeli war on Iran has sent global oil prices soaring. Benchmark Brent crude rose to more than 3 percent on Monday to $116 a barrel – the highest level in nearly two weeks. The oil price was about $65 per barrel before the war.

Has the US tried to interfere in Iranian oil before?

Yes; this is not the first time the US has shown an interest in Iranian oil.

In 1953, the government of Mohammad Mossadegh, Iran’s first democratically elected prime minister, was toppled in a CIA-orchestrated coup after he nationalised the British-controlled firm Anglo‑Iranian Oil Company (AIOC), the predecessor of modern-day BP.

Washington framed the operation – codenamed “Operation Ajax” – as a Cold War necessity to keep Iran and its energy reserves out of Soviet hands.

The coup restored and entrenched the shah’s rule, a turning point that still haunts Iran’s relationship with the West.

Neighbouring Iraq’s oil revenue is still effectively under US control more than two decades after the US invaded the Middle East nation. Iraq’s oil revenues are deposited into an account at the Federal Reserve Bank in the US before making it to Baghdad.

DEVELOPING STORYDEVELOPING STORY,

Crude prices continue to climb as world faces its biggest energy crisis in decades.

Oil prices have surged to their highest level in nearly two weeks amid escalation on multiple fronts of the US-Israel war on Iran.

Brent crude, the global benchmark, rose more than 3 percent on Monday morning to top $116 a barrel.

The latest climb took the global benchmark to its highest point since March 19, when it briefly touched $119 a barrel.

The surge came after Iran said it was prepared for a US ground invasion, with the speaker of the country’s parliament warning that Tehran was waiting for the arrival of US troops to “set them on fire” and “punish” their regional allies.

Tehran’s warning came as the conflict deepened over the weekend, with the Iranian-backed Houthis launching missiles at Israel for the first time in the war, and Israel expanding its invasion of southern Lebanon.

Iran’s effective closure of the Strait of Hormuz in retaliation for the US-Israel war has disrupted about one-fifth of global oil and liquified natural gas (LNG) supplies, plunging the world into its biggest energy crisis in decades.

Oil prices have risen nearly 60 percent since the start of the war, driving up fuel prices worldwide and forcing numerous countries to adopt emergency measures to conserve energy.

Analysts have warned that oil prices are likely to keep rising unless maritime traffic returns to normal levels in the strait.

Greg Newman, the CEO the Onyx Capital Group, which began as an oil derivatives trading house, said that energy markets were only beginning to feel the fallout of the turmoil.

“Physical oil moves around the world in loading cycles , and Europe has taken around three weeks to really start feeling the effects of the oil shortage,” Newman told Al Jazeera.

“Brent is starting to reflect the reality, and we think it’s a steady rise from here towards $120 and beyond.”

Newman said the scale of the disruption had yet to be fully appreciated.

No one in the market has ever seen the outages we are now suffering from – physical premiums are the highest ever. There is still a sense that the macro world is not taking this seriously enough, but it is worse than anything that has come before it,” he said.

“The reality will come out in the economic numbers over the coming months.”

More to follow…

March 29 (UPI) — Egypt is ordering stores and malls to close early, asking people to work from home and dimming street lights as energy costs have skyrocketed since since January.

The North African country put energy saving efforts into effect because the U.S. and Israeli war in Iran has sent the cost of importing oil and natural gas — which is how Africa gets the vast majority of its energy supplies — through the roof, The BBC and Anadolu Agency reported.

Many nations globally have seen the cost of fuel and natural gas increase, and several African and Asian nations have enacted efforts similar to Egypt, because Iran has blocked the Strait of Hormuz to attempt to get the two nations to end the airstrikes aimed at regime change there.

Roughly 20% of the world’s oil and natural gas supply moves through the Strait and choking it off has had a significant effect on Egypt.

Egypt imports liquefied natural gas from the United States and Qatar, among others, and recently signed a deal with Israel for gas that will be delivered via a pipeline, the Financial Times reported.

Although Egypt, with Pakistan and Turkey, are involved with talks to end the war, Egyptian Prime Minister Mostafa Madbouly said that because “there is no clarity about the duration of this war,” the energy reduction measures, which go into effect .

“These measures aim to mitigate the effects of energy import costs due to high global oil prices,” Madbouly said during a press conference.

Since January, Madbouly said that natural gas imports tripped from $560 million per month in January to $1.65 billion per month in March and that its petroleum bill more than doubled in the same time period from $1.2 billion per month to $2.5 billion per month.

Among the “exceptional measures” that will go into effect include stores, restaurants, cinemas and gathering places closing by 9:00 p.m. five nights per week; most employees being told to work from one or two days per week; street lighting and street advertisement lighting will be dimmed by 50% and government vehicles will see be required to use 30% less gas.

Despite talks starting to end the war, the price of Brent crude oil on Friday surpassed $111 per barrel as Iran continued to block most ships from passing through the Strait of Hormuz.

Although Iran allowed a handful of oil tankers through the Strait last week, which U.S. President Donald Trump called a show of good faith, global markets have been hit hard, even beyond energy, as a result of limited traffic transiting the passage.,

March 27 (UPI) — Argentina’s government praised a U.S. court decision Friday that overturned a ruling ordering the country to pay more than $16.1 billion in a lawsuit tied to the 2012 expropriation of oil company YPF.

“We won the case,” President Javier Milei wrote on X, noting the amount at stake was comparable to key financial obligations, including recent loans from the International Monetary Fund.

According to a statement from the presidential office, the Court of Appeals for the Second U.S. Circuit reversed a lower court’s decision that had ordered Argentina to pay billions in damages over how the state renationalized the company.

“The court fully overturned the ruling against the Argentine state in what represents the best possible outcome, with less than a 15% probability of occurrence, and avoided an estimated payment of approximately $18 billion,” the statement said.

The case stems from Argentina’s 2012 expropriation of a 51% stake in YPF, which was owned by Spanish energy company Repsol, during the second presidential term of Cristina Fernández de Kirchner.

The dispute arose because Argentina did not launch a tender offer to purchase shares held by minority investors, as required under the company’s bylaws.

Following that omission, litigation fund Burford Capital acquired the rights to pursue the claim and sued Argentina in New York, securing a record $16.1 billion judgment in 2023 that has now been overturned.

Argentina’s legal defense, maintained across multiple administrations, including those of Mauricio Macri, Alberto Fernández and Milei, argued that the appropriate jurisdiction for the case was Argentine courts, not U.S. tribunals, local newspaper Ámbito reported.

The country had also appealed a June 2025 order requiring it to transfer YPF shares as partial payment of the judgment. With the ruling now vacated, the U.S. Court of Appeals for the Second Circuit also nullified that order.

The removal of the ruling and its associated payment could improve Argentina’s country risk outlook, ease pressure on international reserves and send a positive signal to investors regarding international litigation, local outlet Perfil reported.

Burford Capital can petition the U.S. Supreme Court for review. If the court takes up an appeal, the final outcome could be moths or years away.

March 27 (UPI) — Iranian Foreign Minister Abbas Araghchi said Friday that his country “will exact [a] heavy price” for Israeli strikes on infrastructure Friday.

In a post on X, he said the strikes hit two of Iran’s largest steel factories, a power plant, civilian nuclear sites and other infrastructure.

“Israel claims it acted in coordination with the U.S.,” Araghchi wrote.

The airstrikes came less than a day after U.S. President Donald Trump extended a pause on U.S. attacks on Iran’s energy sites for 10 days. Trump said he extended the deadline because negotiations between the United States and Iran had been going “well,” and Iran had permitted several oil tankers to transit the Strait of Hormuz.

The “attack contradicts POTUS extended deadline for diplomacy,” Araghchi wrote.

“Iran will exact HEAVY price for Israeli crimes.”

The Guardian reported that the airstrikes hit the Khondab heavy-water plant near Arak and a uranium production facility in Ardakan. They also hit steel plants in Khuzestan and Mobarakeh.

Iran’s state-run Tasnim news agency said Tehran was considering launching attacks on six steel factories in Israel in retaliation for Friday’s attack.

The Israeli military said Friday it had intercepted missiles launched by Iran, NBC News reported.

“A short while ago, the [Israel Defense Forces] identified missiles launched from Iran toward the territory of the State of Israel,” the military said in a statement. “Defensive systems are operating to intercept the treat.”

Speaking Friday evening at the Future Investment Initiative in Miami, Trump said Iran is “on the run,” one month after the United States and Israel jointly began attacking the country. The violence came amid negotiations in which the United States sought to limit Iran’s nuclear program.

“Tonight, we’re closer than ever to the rise of the Middle East that is finally free at least from Iranian terror, aggression and nuclear blackmail,” Trump said.

Iran is “being decimated,” he added.

“We are talking now, they want to make a deal.”

The United States offered a proposed 15-point peace plan to Iran this week, but Araghchi said Iranian officials had no plans to negotiate it “for now.”

“This is Israel’s war, and people of the region and people of the U.S. are paying the price for it,” he said.

Iran’s Red Crescent Society reported Friday that more than 70,000 residential units, 600 schools and 300 health facilities had been damaged since the start of the war.