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      Oil Prices Surge and Stock Markets Stumble After Israel Strikes Iran

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      The military strikes jolted investors, raising concerns that a broader Mideast conflict would disrupt the world’s energy supplies.Israel’s military strikes against Iran shook global markets, as oil prices surged and stocks tumbled on worries that the attacks could set off a broader Mideast conflict that would disrupt the world’s energy supplies.Prices of Brent crude oil, the international benchmark, jumped nearly 9 percent to almost $78 a barrel in the hour following the Israeli strikes. As investors worried that rising oil prices might lead to more inflation and hurt the economies of oil-importing nations, stock markets fell broadly.The Nikkei 225 Index in Japan fell 1.3 percent in early trading Friday, while the Hang Seng Index dipped 0.7 percent in Hong Kong. Wall Street was closed at the time of the attack, but overnight futures market trading indicated that they could also fall as much as the Tokyo market.Iran is among the world’s largest producers of oil, and it sells almost all of what it produces to China, which consumes 15 percent of the global supply. Sales by Iran’s state oil company to China represent about 6 percent of Iran’s entire economy, and are equal to about half of its entire government’s spending.Iran’s exports have lagged in recent years as international sanctions have limited its ability to modernize its oil extraction and transportation technology.But Iran’s shipments have begun to recover in the past year on strong demand from China, which would be forced buy oil elsewhere if a broader conflict were to interrupt Iranian supplies. Beijing does have a large strategic oil reserve, accumulated through more than a decade of purchases and dispersed among numerous sites across the country. That could allow it to withstand weeks of an interruption in imports without difficulty.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Why Israel May Be Considering an Attack on Iran

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      Prime Minister Benjamin Netanyahu has vowed to prevent Tehran, “one way or the other,” from building a nuclear bomb.Israel has long envisioned a military attack on Iran’s nuclear enrichment sites in an attempt to halt what it considers an existential threat. But any such military strike would risk igniting a major conflict that could draw in the United States.Many in the Middle East are now wondering whether that moment has arrived. But it is unclear whether the heightened tensions are the result of saber-rattling in an attempt to influence negotiations between the United States and Iran over a nuclear deal, or a genuine Israeli attempt to carry out a planned attack. On Wednesday, The New York Times reported that officials in the United States and Europe believed that Israel seemed to be gearing up for a potential strike, even as Trump administration is seeking a deal with Tehran to curb its nuclear program. The following day, the International Atomic Energy Agency declared that Iran was not complying with its nuclear nonproliferation obligations — the first such censure in two decades.It is unclear how extensive an attack Israel is considering. But the United States has withdrawn diplomats from the region over concerns about the attack and any Iranian retaliation.Here’s what we know.Why might Israel attack now?Iran’s nuclear program has advanced considerably over the past decade, analysts say. Iran is on the brink of being able to manufacture enough nuclear material to fuel 10 nuclear weapons, although producing a usable bomb would likely take many more months.But Iran has been weakened since Hamas launched the Oct. 7, 2023, attack on Israel that ignited the war in Gaza. Hamas and Hezbollah, both of which are backed by Iran, have been decimated in the war with Israel.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Iran blasts Trump for ‘racist mentality’ and hostility to Muslims over travel ban

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      Tehran has denounced the US travel ban on Iranians and citizens of 11 other mostly Middle Eastern and African countries, saying Washington’s decision was a sign of a “racist mentality”.Donald Trump signed an executive order on Wednesday reviving sweeping restrictions that echo the US president’s first-term travel ban, justified on national security grounds after a firebomb attack at a pro-Israel rally in Colorado.Alireza Hashemi-Raja, the foreign ministry’s director general for the affairs of Iranians abroad, called the measure – which takes effect on 9 June – “a clear sign of the dominance of a supremacist and racist mentality among American policymakers”.The decision “indicates the deep hostility of American decision-makers towards the Iranian and Muslim people”, he added in a statement the ministry released on Saturday.Apart from Iran, the US ban targets nationals of Afghanistan, Myanmar, Chad, Congo-Brazzaville, Equatorial Guinea, Eritrea, Haiti, Libya, Somalia, Sudan and Yemen. A partial ban was imposed on travellers from seven other countries.Hashemi-Raja said the policy “violates fundamental principles of international law” and deprives “hundreds of millions of people of the right to travel based solely on their nationality or religion”.The foreign ministry official said the ban was discriminatory and would “entail international responsibility for the US government”, without elaborating.Iran and the US severed diplomatic ties shortly after the 1979 Islamic Revolution, and relations have remained deeply strained since.The US is home to the largest Iranian community outside Iran. According to figures from Tehran’s foreign ministry, in 2020 there were about 1.5 million Iranians in the US.Trump’s executive order came days after Sunday’s attack at the Colorado rally, in which authorities said more than a dozen people were hurt. The suspect is an Egyptian man who had overstayed a tourist visa. More

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      Iranian Film at South by Southwest London Offers a Dose of Hope

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      Amirali Navaee’s new film, “Sunshine Express,” screening next at South by Southwest London, is a project more focused on hope than politics.For the Iranian writer and director Amirali Navaee, portraying his country is not about depicting sadness and tragedy, which he feels has come to define the onscreen portrayal of his home in recent years.Iranian filmmakers have been as much in the news as their films have been over the past decade. The writer and director Mohammad Rasoulof fled Iran last year after being sentenced to eight years in prison while finishing “The Seed of the Sacred Fig,” which tells the story of a family torn apart by protests that were violently crushed by the Iranian government in 2022-23. His harrowing journey has been well-documented, and the film premiered at the Cannes Film Festival last year, with Rasoulof in attendance, where it received a special award from the competition jury. It was later nominated for best international feature at the Academy Awards.The Iranian director Asghar Farhadi, whose films “A Separation” (2012) and “The Salesman” (2017) both won Oscars for best international feature, refused to attend the Academy Awards the second time he won in protest over President Trump’s executive order that blocked entry of citizens from Iran and several other predominantly Muslim countries to the United States.And “Un Simple Accident,” from the Iranian writer-director Jafar Panahi, was awarded the Palme d’Or at Cannes last month. Panahi has been imprisoned several times in Iran because of his work but has continued to make movies in defiance of the Iranian government.“Sunshine Express” tells the story of people in a role-playing game who hope to win a cash prize.Distorted PicturesFor his first feature-length film, Navaee (pronounced nah-vah-YEE), who is also a choreographer and visual artist, said he wanted to express something more complex and less overtly political than other Iranian films. The project, “Sunshine Express,” debuted in February at the International Film Festival Rotterdam and is making its British premiere at South by Southwest London on Wednesday. Shot in a warehouse in Tehran on a small budget (Navaee, 42, said many of his friends helped finance the movie), it tells the story of people in a role-playing game on a train headed to a place called Hermia in the hopes of winning a cash prize.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Three Iranians Accused of Targeting People in Britain

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      The charges against the men come as concerns have grown about Iranian operatives carrying out operations against British residents and citizens.Three Iranian men appeared in court on Saturday in London, accused of helping Iran’s intelligence service by targeting individuals in Britain.Mostafa Sepahvand, 39; Farhad Javadi Manesh, 44; and Shapoor Qalehali Khani Noori, 55, have been charged under Britain’s National Security Act with engaging in conduct likely to assist a foreign intelligence service between Aug. 14 last year and Feb. 16.They are also accused of carrying out surveillance and reconnaissance as part of a plan to commit serious violence against an individual, who was not identified.The arrests come amid growing concern about efforts by Iranian operatives to target British citizens and residents.The Metropolitan Police said in a statement that the men had been arrested and detained on May 3. “The foreign state to which the charges relate is Iran,” the statement added.The BBC reported that the three had been accused of targeting journalists working for Iran International, an independent, Persian-language broadcaster based in London that has been critical of the Iranian government.All three defendants, who live in London, had illegally entered Britain between 2016 and 2022, and two were among the thousands who have traveled to the country on small boats from France.“The charges that have been laid against these three individuals must now take their course through the criminal justice system, and nothing must be done to prejudice the outcome of those proceedings,” Yvette Cooper, Britain’s home secretary, said in a statement.“But we will also take separate action to address the very serious wider issues raised by this case,” Ms. Cooper added. “The police have confirmed that the foreign state to which these charges relate is Iran, and Iran must be held to account for its actions.”Thanking the police, Ms. Cooper said, “We will not tolerate growing state threats on our soil.”In a speech last year, Ken McCallum, the head of MI5, Britain’s domestic security service, identified Iran as a country of growing concern to the counterterrorism police. He said that since January 2022, the security services had been investigating 20 Iranian-backed plots that posed potentially lethal threats to British citizens and residents. More

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      Massive Iran Port Explosion Kills 4 and Injures Hundreds

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      There was no immediate indication that the blast was caused by sabotage or a deliberate attack. State media said it was likely caused by containers of chemicals catching fire.A massive explosion on Saturday at the Iranian port of Shahid Rajaee in Bandar Abbas killed several people and injured hundreds, according to state media. The exact cause of the blast was not immediately clear, although there was no suggestion of an attack or sabotage.Mohammad Rasoul Moradi/Islamic Republic News AgencyA massive explosion at a port in southern Iran on Saturday killed at least four people and injured more than 500, according to state media.The exact cause of the blast at the Shahid Rajaee port in the city of Bandar Abbas was not immediately clear. But Iranian authorities did not suggest it was sabotage or a deliberate attack.The state-run Islamic Republic News Agency quoted an official as saying the ignition of containers of chemicals most likely set off the explosion. The blast sent up clouds of black smoke, according to footage from the scene distributed by an Iranian broadcaster and video from social media that was verified by The New York Times.Bandar Abbas is strategically located along the Strait of Hormuz, a busy Persian Gulf shipping lane for the world’s oil and natural gas.In 2020, Israel launched a cyberattack that hampered operations at the Shahid Rajaee port as part of its long-running shadow war with Iran.Israeli officials did not immediately respond to a request for comment on Saturday’s explosion.The explosion came around the time that American and Iranian officials began meeting in the Gulf sultanate of Oman on Saturday for a third round of talks on Iran’s nuclear program.Last week, The New York Times reported that Israel had planned to attack Iranian nuclear sites as soon as next month, but it was waved off by Mr. Trump, who wanted to negotiate an agreement with Tehran instead. But Mr. Trump has also vowed to prevent Iran from obtaining a nuclear weapon, including by military action if necessary. More

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      Why Saudi Arabia Supports Trump’s Nuclear Talks With Its Rival, Iran

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      The agreements are shaping up to be very similar. But Gulf support for a nuclear deal shows how much the region has changed.Ten years ago, when former President Barack Obama and other leaders reached a deal with Iran to limit its nuclear program, Saudi Arabia was dismayed.Saudi officials called it a “weak deal” that had only emboldened the kingdom’s regional rival, Iran. They cheered when President Trump withdrew from the agreement a few years later.Now, as a second Trump administration negotiates with Iran on a deal that might have very similar contours to the previous one, the view from Saudi Arabia looks quite different.The kingdom’s Foreign Ministry issued a statement recently saying that it hoped the talks, mediated by neighboring Oman, would enhance “peace in the region and the world.”Saudi Crown Prince Mohammed bin Salman even dispatched his brother, the defense minister Prince Khalid bin Salman, to Tehran, where he was received warmly by Iranian officials dressed in military regalia. He then hand-delivered a letter to Iran’s supreme leader, Ayatollah Ali Khamenei, a man whom Prince Mohammed once derided as making “Hitler look good.”What changed? Relations between Saudi Arabia and Iran have warmed over the past decade. As important, Saudi Arabia is in the middle of an economic diversification program intended to transform the kingdom from being overly dependent on oil into a business, technology and tourism hub. The prospect of Iranian drones and missiles flying over Saudi Arabia because of regional tensions poses a serious threat to that plan.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Gives Conflicting Signals and Mixed Messages on Iran Nuclear Talks

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      Just a few weeks ago, President Trump’s national security adviser, Michael Waltz, a longtime hawk on Iran, cast the administration’s goal in negotiations over Tehran’s nuclear program in crystal clear terms.“Full dismantlement,” he said. He went on to list what that meant: Iran had to give up facilities for enriching nuclear fuel, for “weaponization” and even its long-range missiles.But what sounded like a simple, tough-sounding goal on a Sunday talk show has started to unravel. In the past 24 hours, officials have left a contradictory and confusing set of messages, suggesting the administration might settle for caps on Iran’s activities — much as President Barack Obama did a decade ago — before backtracking on Tuesday.Some of this may simply reflect inexperience in dealing with nuclear weapons programs. Mr. Trump’s chief negotiator is Steve Witkoff, a friend of the president’s who, as a New York developer like him, has spent a lifetime dealing with skyscrapers but only began delving into Iran’s underground nuclear centrifuges and suspected weapons labs a few weeks ago.But the inconsistency also appears rooted in the splits inside Mr. Trump’s national security team as it grapples anew with one of the longest-lasting and most vexing problems in American foreign policy: How to stop Iran’s nuclear program without going to war over it. So far, the result is a blitz of mixed messages, conflicting signals and blustering threats, not unlike the way Mr. Trump and his aides talk about their ever-evolving tariff strategy.The issue came to the fore on Monday night when Mr. Witkoff began talking about his first encounter with Iran’s foreign minister last Saturday in Oman. The meeting went well, he said, plunging into the complex world of Iran’s nuclear program, which has taken it to the very threshold of building a weapon.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More