Iran still has an outsized ability to rattle global energy markets. Markets will not reopen until Monday but a $10 rise in the price of a barrel of oil since the start of the year is a reminder of how seriously traders take any threat to the country, even though years of US sanctions mean … Read more
Donald Trump launched America’s new war against Iran from his Mar-a-Lago resort in the middle of the Florida night, casting it as a decisive bid to tackle Tehran in a way no US president had done in almost half a century. The “massive and ongoing operation”, Trump said in an eight-minute video on social media, … Read more
On Saturday morning, explosions rang out around Iran, with smoke rising over Tehran, while sirens wailed over Tel Aviv and Jerusalem. Israel had begun a war against Iran, the defence minister Israel Katz announced, with Israelis calling it Operation Roar of the Iron. Israelis were told to brace for incoming Iranian missiles. The US called … Read more
After weeks of threats and a massive US military build-up, the missiles began to rain down on Tehran on Saturday morning, the first day of Iran’s working week, triggering panic across the capital. With waves of air strikes, the US and Israel ignited their second war against the Islamic republic in eight months, warning it … Read more
From invasions and internal revolts to strikes on its leadership, Iran’s theocratic regime has survived for almost half a century through countless crises and foreign interventions. Repeatedly, and often against the odds, the Islamic Republic showed its ability to adapt under pressure and use ruthless tactics when needed — underscoring the durability of a complex … Read more
Limited supplies of critical defensive munitions to protect US forces and allies from Tehran’s missiles are likely to shape the military offensive against Iran, according to officials and analysts. The US and Israel burned through their stockpiles of interceptors at an unprecedented rate during last year’s 12-day war, when Iran fired hundreds of missiles at … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. DeepSeek is set to release its latest large language model next week, more than a year since its last major release in a fresh test of China’s ambitions to challenge US rivals in AI. The … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Yachts linked to Russian owners have shed €580mn in value after being impounded across Europe after Moscow’s full-scale invasion of Ukraine, with many left to deteriorate in marinas. Luxury yacht brokerage Cecil Wright found that … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An unhappy new tax year beckons on April 6. In six weeks’ time, nearly 1mn freelancers and buy-to-let landlords will become guinea pigs in the government’s Making Tax Digital experiment. Dubbed the biggest tax shake-up … Read more
Israel shut its airspace and imposed restrictions on gatherings across the country after carrying out air strikes on Iran early on Saturday. Sirens sounded through Israel warning people to stay close to shelters in the wake of the attack, which hit central areas of Tehran and followed weeks of tensions between the Islamic republic and … Read more