Iran War

Governments in Asia, the top oil-importing region, are seeking alternatives to shield economies from the energy crisis triggered by the Iran war. The Asian Development Bank cut its growth forecast for developing Asia to 4.7% this year. Oil imports to the region plunged 30% in April.

1 Mwezi wa tano, 2026 Imeripotiwa na AI

What began as escalating tensions in the Strait of Hormuz in mid-March 2026 has evolved into a full-scale war between the United States, Israel, and Iran, with the strait blockaded since early March. This vital chokepoint for 20% of global oil and natural gas shipments has ignited the most severe energy crisis in modern history, causing critical fuel shortages in 25 countries.

Republicans who control Congress are preparing for a contentious debate over how to pay for the U.S. military campaign against Iran, as independent estimates put the conflict’s cost to date near $30 billion and lawmakers warn the 1973 War Powers Resolution’s 60-day clock is approaching.

9 Mwezi wa nne, 2026 Imeripotiwa na AI

Germany's DAX index fell 1.1 percent on Thursday, closing at 23,807 points. Investors are wary of the fragile two-week ceasefire in the Iran war and Israeli airstrikes in Lebanon. US Federal Reserve minutes are also weighing on sentiment.

Brazil's ANP released on Thursday (2) a list of five companies that joined the first phase of the diesel subsidy program, excluding major distributors Vibra, Ipiranga, and Raízen. President Luiz Inácio Lula da Silva's government is discussing technical adjustments to attract them, as they handle half of private imports. The program aims to cushion the war in Iran's effects on fuel prices.

2 Mwezi wa nne, 2026 Imeripotiwa na AI

Amid the war against Iran launched on February 28, countries including France, Spain, Austria, Switzerland and Italy are restricting access to their territory for US military aircraft. Donald Trump voiced anger at these Nato allies on Truth Social. Emmanuel Macron confirmed France's non-participation stance.