Imported Article – 2026-03-30 15:49:57

War in the Middle East is having an uneven impact on global economies but “all roads†lead to higher prices and slower economic growth, an influential economic body has warned.

The International Monetary Fund (IMF), which advises on policy and gives financial aid to member countries, said it was stepping up support, especially to the most vulnerable economies.

The war's impact is “both global and highly unevenâ€, with some countries likely to face a renewed cost-of-living squeeze, IMF economists wrote in a blog post on Monday.

Large energy importers in Asia and Europe are bearing the brunt of higher fuel prices and input costs due to the effective closure of the strait of Hormuz, which has caused shipments of oil and gas to grind to a halt.

Countries like the UK and Italy have been particularly exposed by their reliance on gas-fired power, while France and Spain were relatively protected by their greater use of nuclear and renewable energy sources, according to the IMF.

US secretary of state Marco Rubio has voiced hope for working with elements within Iran's government, saying the United States privately had received positive messages.

Rubio said there were internal “fractures†inside the Islamic republic and that the United States hopes figures with “power to deliver†take charge.

“We are hopeful that that's the case,†Rubio told the ABC News programme ‘Good Morning America'.

“There are clearly people there talking to us in ways that previous people in charge in Iran have not spoken to us in the past, some of the things they're willing to do,†he said.

“These people are lunatics. They are insane. They are religious zealots who can never be allowed to possess a nuclear weapon because they have an apocalyptic vision of the future,†Rubio added.

The Group of Seven (G7) economic powers have said they stood ready to take “all necessary measures†to safeguard energy market stability and limit broader economic spillovers from recent volatility.

After an online meeting of finance ministers and central bankers, the G7 also called in a statement on countries “to refrain from imposing unjustified export restrictions on hydrocarbons and related productsâ€.

The statement added that G7 central banks remain strongly committed to maintaining price stability, with monetary policy staying data-dependent.

“We stand ready to take all necessary measures in close coordination with our partners, including to preserve the stability and security of the energy market,†they said in a joint statement.

“We recognise the importance of coordinated international action to mitigate spillovers and safeguard macroeconomic stability.â€

Danish shipping firm Maersk announced Monday that Oman's port of Salalah, which was hit by a drone at the weekend, would start to reopen from Tuesday.

The Oman authorities said one worker was injured and minor damage caused by the strike on the port, which is run by Maersk subsidiary APM Terminals and is one of the key shipping facilities in the Gulf state.

Maersk said the area damaged was “limited†and that the port's management would take “necessary measures†to progressively build up to full capacity.

Some “constraints†would remain but additional safety and “preventive†measures had been taken because of the strike, it added.

A ballistic missile launched from Iran entered Turkish airspace before being shot down by Nato air and missile defences deployed in the eastern Mediterranean, Turkey's defence ministry said.

The incident marked the fourth such incident since the start of the Iran war, following three earlier interceptions by Nato systems earlier this month that promoted Ankara to protest and warn Tehran.

The ministry said all necessary measures were being taken “decisively and without hesitation†against any threat directed at Turkey's territory and airspace.

The internet blackout in Iran has entered its 31st day, according to internet monitoring group NetBlocks. It said in a post:

It has now been over 720 hours since Iran fell off the global internet with the digital blackout entering its 31st day.

As the shutdown continues into its second month, misinformation and propaganda increasingly fill the void both domestically and internationally.

Those without access to Starlink or alternative ways to communicate – which are often expensive – are cut off, not only from the outside world but the blackout also severely curtails Iranian's ability to communicate with each other, making mobilisation, for example, much more difficult.

The US treasury secretary, Scott Bessent, said the global oil market is well supplied, with more boats travelling through the strait of Hormuz.

“Over time, the US is going to retake control of the straits and there will be freedom of navigation, whether it is through US escorts or a multinational escort,†Bessent told Fox News.

Iran has all but halted shipping ​through the strait, using the vital waterway as leverage. Its effective closure has sent oil prices rocketing to more than $100 a barrel.

Iran has said “non-hostile vessels†may transit the waterway if they coordinate with Iranian authorities. It has meant a trickle of cargo ships and tankers – most of them Iranian, but some from Thailand and China – have made it through the strait since the start of the war.

Donald Trump's call for countries, including France and the UK, to send warships to help unblock the strait was met with a cool response earlier this month, despite governments around the world being hit by surging energy prices.

The US has eased oil sanctions on Russia and Iran in an attempt to contain soaring energy prices but there are still fears that the economic damage from the war could be so great that it could cause a global recession.

Bahrain's defence force, meanwhile, said its air defence systems have intercepted and destroyed 398 drones and 182 missiles launched by Iran since 28 February, when US-Israeli airstrikes on Iran triggered Tehran to launch strikes across Gulf countries, which have close ties to Washington and host several American military bases.

The UAE says its air defences have intercepted 11 ballistic missiles and 27 drones launched from Iran so far today. The defence ministry said it has engaged 1,941 drones and 440 missiles since the war began. It said the Iranian attacks have killed 11 people and injured 178 others.

“The Ministry of Defence affirmed that it remains fully prepared and ready to deal with any threats and will firmly confront anything that aims to undermine the security of the country, in a manner that ensures the protection of its sovereignty, security and stability and safeguards its interests and national capabilities,†it said in a statement shared on social media.

An industrial building and a fuel tanker in Israel's northern city of Haifa were hit by debris from an intercepted missile, Israel's fire and rescue service said on Monday.

It was not immediately clear where the missile was fired from.

Israel renewed its bombardment of Beirut's southern suburbs on Monday while continuing air strikes on Lebanon's south, one of which targeted an army checkpoint and killed a soldier.

Lebanon was pulled into the Middle East conflict when Tehran-backed armed group Hezbollah fired rockets at Israel on 2 March in revenge for the killing of Iran's supreme leader, the opening salvo in the US-Israeli war against the Islamic republic, AFP reported.

Israel has responded with large-scale air strikes across Lebanon and a ground offensive in the south. Lebanese authorities say more than 1,200 people have been killed since the hostilities broke out.

On Monday, two strikes hit Beirut's southern suburbs, one of them targeting an apartment in a residential building, according to an AFP photographer, who said Hezbollah gunmen imposed a security cordon at the site after the attack.

A security source told AFP that three Hezbollah members were killed in the strike and three others wounded. An eyewitness who declined to be named said victims were evacuated from the site following the strike.

Israel's military has said it had struck a university in Tehran run by Iran's Revolutionary Guards, claiming the institution was used for advanced weapons research.

“In recent days, one of the IRGC's central military infrastructure sites was recently struck, located within the compound of Imam Hossein University – the IRGC's primary military academic institution, which also serves as an emergency asset for the regime's military bodies,†a military statement said.