Iran warned Monday it would strike electrical plants across the Middle East if US President Donald Trump follows through on a threat to bomb power stations inside Iran. Tehran said such retaliation would put electrical supplies and desalination-dependent drinking water at risk in Gulf Arab states where power and water infrastructure are often co-located. Semiofficial Fars news agency published a list of facilities it said could be targeted, including the United Arab Emirates’ nuclear power plant.
March 23, 2026 — Live updates
China warns of ‘vicious cycle’ if war escalates in Middle East
Beijing: China urged all parties involved in the Gulf conflict to halt military operations to avoid a “vicious cycle” and return to negotiations. Chinese foreign ministry spokesperson Lin Jian warned that continued escalation would plunge the entire region into chaos and said the use of force only breeds further violence. (Reuters)
Oil prices up more than 50 per cent since start of the war
Dubai: Brent crude traded around USD 112 a barrel, roughly 55% higher since Israel and the US began military action on February 28 by attacking Iran. (AP)
US Central Command leader says campaign is ‘ahead or on plan’
Dubai: US Navy Adm. Brad Cooper, head of US Central Command, said the US campaign against Iran is “ahead or on plan.” In an interview with the Farsi-language network Iran International, Cooper said Iran’s attacks on Gulf states put civilians at risk and that US and Israeli strikes are targeting missile and drone manufacturing sites to remove future threats. (AP)
Cooper says Iran operating ‘in a sign of desperation’
Dubai: Adm. Cooper said Iran’s deliberate attacks on civilian targets in recent weeks—more than 300 incidents—reflect desperation. He noted a slowdown in the volume of incoming Iranian drones and missiles, shifting from large barrages to isolated launches. (AP)
Trump reiterates his ‘peace through strength’ slogan
Dubai: US President Donald Trump posted on Truth Social: “PEACE THROUGH STRENGTH, TO PUT IT MILDLY!!!” (AP)
Sensex falls 1,500 points as war and oil dent sentiment
Mumbai: India’s benchmark indices plunged on Monday as the Middle East conflict and rising crude spooked investors. The BSE Sensex fell about 1,555 points (2%) to 72,977, while the NSE Nifty dropped nearly 480 points (2%). Heavyweights such as Tata Steel, State Bank of India and others were among the biggest losers; HCL Tech was the lone gainer. (PTI)
Indian national injured after debris falls in Abu Dhabi
Abu Dhabi: Authorities said an Indian national suffered minor injuries from debris in Al Shawamekh after UAE air defences intercepted a ballistic missile targeting the capital. The Abu Dhabi Media Office urged reliance on official sources and cautioned against unverified reports. (ANI)
IEA consulting governments on further oil stock releases
Sydney: International Energy Agency head Fatih Birol said the IEA is consulting with Asian and European governments about releasing more strategic oil stocks “if necessary” due to disruptions from the Iran war. (Reuters)
China, Hong Kong stocks tumble as war rattles markets
Shanghai/Hong Kong: Major Chinese indexes opened sharply lower, with the CSI300 and Shanghai Composite down about 2% and the Hang Seng off nearly 3% amid global market jitters. (Reuters)
Asia shares slide, yields climb as Gulf war rages
Sydney: Asian share markets fell while US bond yields reached eight-month highs as the US and Iran traded threats and Israel prepared for more fighting, driving oil volatility. (Reuters)
Dollar rises as Middle East conflict spurs haven demand
Tokyo: The dollar strengthened on safe-haven flows while the Australian dollar and other risk-sensitive currencies slid. Japan said it stood ready to act to counter currency volatility as the yen weakened. The IEA chief warned the crisis is worse than the 1970s oil shocks. (Reuters)
Energy, desalination plants threatened
Arad (Israel): Iran has effectively closed the Strait of Hormuz while claiming it will allow safe passage for non-enemy vessels. Attacks on ships have halted most tanker traffic through the strait, which handles about one-fifth of global oil flows. President Trump warned the US would destroy Iran’s “various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!” The US maintains Iran’s Revolutionary Guard controls much of Iran’s infrastructure. Iranian parliament speaker Mohammad Bagher Qalibaf responded that if Iran’s power plants are targeted, vital regional infrastructure—including energy and desalination facilities essential for Gulf drinking water—would be considered legitimate targets and “irreversibly destroyed.” Iran’s UN ambassador called attacks on power plants inherently indiscriminate and disproportionate, saying they would amount to war crimes. (AP/IRNA)
