Multiple conflicts and economic pressures are escalating globally, with developments ranging from airstrikes in Lebanon and rising oil prices to Iran’s tightening control over the Strait of Hormuz and a marathon held in Gaza. The situation is further complicated by ongoing diplomatic efforts and military posturing from various nations.
Airstrike in Southern Lebanon Kills Four
An airstrike destroyed a house in the coastal village of Saksakiyeh, Lebanon, killing four people and wounding eight others, according to the Health Ministry. State media reported additional airstrikes in other parts of south Lebanon, including the city of Nabatiyeh and villages in the Tyre region.
Iran Formalizing Control of Strait of Hormuz
Iran appears to be establishing itself as the gatekeeper for the Strait of Hormuz, potentially cementing its control over the crucial waterway and its ability to regulate oil flow to China. Ships are reportedly being vetted by Iran’s Islamic Revolutionary Guards Corps, with at least two vessels paying for passage using Chinese currency. A lawmaker stated that parliament is pursuing a plan to formally codify Iran’s control over the strait and generate revenue through fees.
Markets Decline, Crude Prices Jump
Wall Street experienced a downturn in premarket trading, and oil prices rose another 2 percent following the worst day on Wall Street since the start of the Iran war. Futures for the S&P 500 were down 0.3 percent early Friday, adding to a 1.7 percent decline from the previous day. The index is on track for a fifth consecutive losing week.
Israel Strikes with White Phosphorus Near Tyre
Israeli airstrikes near the Lebanese city of Tyre have reportedly involved the use of white phosphorus, a substance banned under international law when used in civilian areas. Smoke plumes resembling the substance were observed by Associated Press journalists. Human Rights Watch noted the incendiary effects of white phosphorus can cause devastating injuries and that Israel has repeatedly used it unlawfully in populated areas in Lebanon.
Israel Warns of Expanded Attacks on Iran
Israeli Defense Minister Israel Katz stated that attacks on Iran will escalate and expand to additional targets if Iran continues firing missiles at Israeli civilians. He warned that Iran will “pay heavy, increasing prices for this war crime.”
Two Killed in Israeli Strike on Beirut Suburb
An Israeli strike on a Beirut suburb, Tahwitat al-Ghadir, killed two people Friday, according to the Health Ministry. No further details were immediately available.
Iran Accuses US and Israel of ‘Clear Intent to Commit Genocide’
Iranian Foreign Minister Abbas Araghchi accused the US and Israel of a “clear intent to commit genocide,” citing damage to over 600 civilian buildings and casualties among students and teachers. The accusation came during an urgent debate at the Human Rights Council regarding a February 28 strike in Minab, which Iranian state media reported killed over 165 people, mostly children.
Israeli Soldiers Injured in Lebanon
Two Israeli soldiers, one a combat officer, were severely injured in southern Lebanon during an “operational accident” and have been hospitalized, the military said Friday.
Oil Prices Rise in Early Trading
Brent crude futures were up 1.6 percent at $103.51 per barrel in early Friday trading.
France Seeks Diplomatic Solution
France’s minister of armed forces, Catherine Vautrin, stated that the Middle East war is “not ours” and that France’s position is strictly defensive. She emphasized a diplomatic approach to avoid escalation and find a solution to the crisis, including the blockade of the Strait of Hormuz.
UK Calls for Swift Resolution to Strait of Hormuz Crisis
UK Foreign Secretary Yvette Cooper called for a “swift resolution” to the war in the Middle East and the reopening of the Strait of Hormuz, warning that Iran cannot be allowed to hold the global economy hostage.
Ukraine and Saudi Arabia Agree on Defense Cooperation
Ukrainian President Volodymyr Zelenskyy announced an “important arrangement” with Saudi Arabia on defense cooperation, including future contracts and technological collaboration. Zelenskyy also stated that Ukrainian experts in drone combat are assisting several Middle Eastern countries in countering drone attacks.
Egypt Warns of Economic Repercussions
Egypt’s Foreign Minister Badr Abdelatty warned US Secretary of State Marco Rubio of the economic repercussions of the war, emphasizing the need for economic support as Egypt grapples with a growing crisis.
Saudi Arabia Reports Iranian Missile Launches
Saudi Arabia reported that Iran launched six missiles toward the country, with four falling into the Persian Gulf and uninhabited areas, and two being intercepted.
82,000 Civilian Buildings Damaged in Iran
Attacks in Iran have damaged 82,000 civilian buildings, including hospitals and homes, across 20 of Iran’s 32 provinces, according to the International Organization for Migration.
Russia Denies Providing Intelligence to Iran
Russian Foreign Minister Sergey Lavrov denied allegations that Moscow is providing intelligence to Iran, while acknowledging a military-technical cooperation agreement between the two countries.
Kuwait Port Damaged in Attack
Kuwait’s Shuwaikh Port sustained “material damage” in an attack Friday, though no injuries were reported.
Asian Stocks Mostly Lower
Asian shares largely declined Friday following Wall Street’s worst day since the start of the Iran war, as expectations of de-escalation faded. Oil prices are up roughly 40 percent since the conflict began.
Thai Cargo Ship Runs Aground
A Thai-flagged cargo ship, the Mayuree Naree, which was previously attacked by Iran in the Strait of Hormuz and abandoned by its crew, ran aground near Qeshm Island, Iranian media reported Friday.
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