The conflict involving the U.S., Israel, and Iran has deepened, with significant military and political developments on its fifth day .
· Naval Engagement: A US submarine reportedly sank the Iranian warship IRIS Dena off Sri Lanka, with media reporting at least 87 sailors killed .
· Air Campaign: The Israeli military stated it has dropped over 5,000 munitions on Iran, now focusing on government targets in Tehran .
· Regional Tensions: A missile fired from Iran toward Turkish airspace was intercepted by NATO . The US also vowed "complete and total dominance" over Iranian airspace .
· Global Politics: The US Senate blocked a war powers resolution against Iran . UK PM Starmer stressed a lawful basis for war , while Spain and Belgium ruled out military support . The Vatican warned the world risks being "set ablaze" .
🌍 Global Economic Shockwaves
The conflict is testing the global economy, with immediate impacts on energy markets.
· IMF Warning: IMF chief Kristalina Georgieva warned a prolonged conflict could affect global energy prices, market sentiment, and growth, posing new challenges for policymakers .
· Energy Market Disruption: European gas prices fell below €50 on peace talks reports, after initial spikes . Major energy players like QatarEnergy declared force majeure on LNG production, and Iraq cut crude output following Strait of Hormuz closure concerns .
· Supply Chain Fears: The ROK issued an alert over potential global energy supply disruptions .
📰 Other Notable News
· DRC Mine Collapse: Over 200 people were killed in a mine collapse in the eastern DRC following heavy rains .
· UK Politics: The wife of a UK lawmaker was arrested on suspicion of being a Chinese spy .
· Korea: Kim Jong Un expressed satisfaction with the country's navy nuclear armament .
· India Energy Security: A prolonged conflict could dent India's remittance flows from the Gulf and impact its economy .
· France Nuclear Policy: President Macron announced France will increase its number of nuclear warheads in a major policy update .