Israel

In any air war, Israel’s defences would trump Iran’s, but at a high cost

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In any air war, Israel’s defences would trump Iran’s, but at a high cost

Iran’s aging air defenses make the country vulnerable to an Israeli attack, despite its strong ballistic missiles and drones. Israel’s formidable defense systems have the capability to hit targets inside Iran due to its obsolete air force and aging Russian-based air defense systems. Israel’s main challenge would be successfully striking military bases in western and southern Iran, requiring the use of penetrating bombs. The cost of repelling Iran’s attack could be significantly higher than the cost of the attack itself. Israel is working to replenish its air defense systems in preparation for potential future attacks. Israel is unlikely to rely solely on defense and may respond with significant offensive options if attacked by Iran.

Picture of Palestinian woman holding dead child wins 2024 World Press Photo

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Picture of Palestinian woman holding dead child wins 2024 World Press Photo

Reuters photographer Mohammed Salem won the prestigious 2024 World Press Photo of the Year award for his image of a Palestinian woman cradling the body of her five-year-old niece in the Gaza Strip. The picture was taken in a hospital in southern Gaza where families were searching for relatives killed during Israeli bombing. Salem hopes the award will bring awareness to the human impact of war, especially on children.

US announces new sanctions on Iran after missile and drone strike on Israel

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US announces new sanctions on Iran after missile and drone strike on Israel

The United States announced new sanctions on Iran targeting its unarmed aerial vehicle production following its missile and drone strike on Israel. The sanctions targeted individuals and entities enabling Iran’s UAV production, as well as companies providing materials for steel production to Iran’s largest steel producer. Additionally, Iranian automaker Bahman Group subsidiaries were also designated for supporting Iran’s Islamic Revolutionary Guard Corps. Britain and the European Union also imposed sanctions on Iranian military organizations, individuals, and entities involved in Iran’s UAV and ballistic missile industries. The U.S. statement came after the Group of Seven industrial democracies and EU leaders decided to step up sanctions against Iran to prevent a wider conflict in the Middle East. Iran launched the April 13 attack in retaliation for Israel’s suspected strike on the Iranian consulate in Damascus, leading to threats of retaliation from Israel and a potential review of Iran’s “nuclear doctrine.”

Oil extends losses on easing Middle East tension, demand concerns

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Oil extends losses on easing Middle East tension, demand concerns

Oil prices fell to a three-week low on Thursday, extending losses on hopes of easing tensions in the Middle East and a bleaker demand picture.

Tehran could review , ‘nuclear doctrine’ amid Israeli threats

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Tehran could review , ‘nuclear doctrine’ amid Israeli threats

Iran could review its “nuclear doctrine” following Israeli threats, raising concerns about Tehran’s nuclear program. Israel has threatened to retaliate against Iran’s missile and drone attack, which was in response to a suspected Israeli strike on its embassy compound in Damascus. Ahmad Haghtalab, a senior Iranian Revolutionary Guards commander, stated that threats against Iran’s nuclear facilities could lead to a change in their nuclear doctrine. Iran’s Supreme Leader, Ayatollah Ali Khamenei, has the final say on the nuclear program, which the West suspects has military purposes. Talks between Tehran and Washington to revive the 2015 nuclear pact have stalled since 2022. Iran continues to enrich uranium at rates up to 60% purity, far beyond the needs for commercial nuclear use.

Fuel prices rise after ending fuel tax reduction

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Fuel prices rise after ending fuel tax reduction

The average price of fuel in Cyprus has increased by 4.5 cents per litre for petrol, 1.3 cents per litre for diesel, and 0.4 cents per litre for heating oil following the termination of the government’s reduced tax measure. Gasoline prices had already increased by 8.3 cents per litre before the tax measure was lifted.

Gold rebounds on market caution, aims for $2,400

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Gold rebounds on market caution, aims for $2,400

Gold is trading around ,370 per troy ounce due to caution amidst geopolitical tensions in the Middle East. The US Dollar Index is losing ground, making Gold less expensive for investors using other currencies. Federal Reserve officials have acknowledged that inflation has surpassed expectations. Fed Chair Jerome Powell’s recent comments suggest a potentially hawkish stance on upcoming monetary decisions.

WTI falls on uncertain demand, MidEast tensions

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WTI falls on uncertain demand, MidEast tensions

The West Texas Intermediate (WTI) futures dropped to .00 due to weak demand outlook and expectations of the Federal Reserve keeping interest rates higher. The Fed’s confidence in price pressures declining to 2% has been dented by higher consumer price inflation and strong labor market data. Expectations of higher crude oil inventories and fears of oil supply tightening due to Iran’s attack on Israel have also impacted the oil price. Treasury Secretary Janet Yellen mentioned the possibility of new sanctions on Iran, which could affect their oil exports.

UK’s Cameron: clear Israel has decided to respond to Iran attack

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UK’s Cameron: clear Israel has decided to respond to Iran attack

British foreign minister David Cameron stated that Israel had decided to respond to the Iranian drone and ballistic missile attack, expressing hope that the response would minimize escalation. Cameron also emphasized the importance of coordinated sanctions against Iran, advocating for a clear message from the G7.

UN committee unable to agree on Palestinian bid for full membership

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UN committee unable to agree on Palestinian bid for full membership

The United Nations Security Council committee did not reach a unanimous recommendation on the Palestinian Authority’s application to become a full U.N. member. The Palestinian Authority is expected to push for a vote on the draft resolution recommending its full membership. This move would effectively recognize a Palestinian state, which is currently a non-member observer state. The U.S. has stated that an independent Palestinian state should be established through direct negotiations, not at the United Nations. The Security Council committee was unable to agree on whether the Palestinian application met all the criteria for membership.