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Iran warned Monday it will strike electrical plants and desalination facilities across the Middle East if US President Donald Trump follows through on his threat to bomb power stations in the Islamic Republic.
The threat from Tehran puts at risk both electricity supplies and water in the Gulf states, particularly as the desert nations co-locate their power stations with desalination plants crucial for supplying drinking water.
Meanwhile, Tehran has also threatened it would deploy mines across the entire Persian Gulf in case of “any enemy attempt to attack Iranian coasts or islands,” an escalation which would further complicate the cargo ship traffic, already jeopardised by the Strait of Hormuz blockade.
Follow Euronews’ live blog as our colleagues from the region and around the world bring you the latest developments in the ongoing Iran war.
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Oil up, stocks down on Monday
Stocks tumbled Monday and oil prices jumped after US President Donald Trump and Iranian leaders traded threats over the key Strait of Hormuz, while Israel said the war could last several more weeks.
With the war now in its fourth week and showing no sign of ending, the head of the International Energy Agency warned of the worst global energy crisis in decades and said the world economy was under “major threat” from it.
The escalation hammered stock markets, with Seoul and Tokyo — which had been the standout performers before the war started — taking the brunt of the selling, shedding 6.5% and 3.5%, respectively.
Hong Kong and Shanghai shed more than 3%, while Singapore, Taipei, Mumbai, Bangkok and Manila all lost between 2% and 3%.
London, Paris and Frankfurt opened sharply lower.
Meanwhile, oil prices jumped more than 2% with Brent above $114 and West Texas Intermediate topping $101.
9:43 GMT+1
Gulf countries under Iranian attack again
Saudi Arabia and the United Arab Emirates reported coming under fresh attacks on Monday morning, with explosions and sirens sounding over the Gulf.
The Saudi Ministry of Defence said it had detected two incoming ballistic missiles targeting the capital on Monday, “one of which was intercepted and the other fell in an uninhabited area”.
The UAE defence ministry said it was “currently responding to incoming missile and drone threats from Iran”, explaining “the sounds heard are the result of the air defence systems intercepting missiles and drones”.
Hours earlier, Abu Dhabi authorities reported one person had been wounded by falling debris from an intercepted ballistic missile.
Sirens were also sounding in Bahrain, with residents instructed to seek shelter.
“Citizens and residents are urged to remain calm and head to the nearest safe place,” the interior ministry posted on social media.
While Tehran said it was only targeting US assets in the region, its drones and missiles have struck civilian infrastructure, including landmarks, airports, ports and oil facilities around the Gulf.
9:41 GMT+1
Israel says ‘weeks of fighting’ ahead
In a statement on Sunday evening, IDF spokesperson Brigadier General Effie Defrin said Israel is facing “weeks of fighting” ahead in the ongoing Iran war, now in its third week.
“With each passing day, we are weakening the terror regime more and more. We will not allow the terror regime and its proxies to pose a threat to the State of Israel.”
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