Conflict deepens amid talks, with fears for food, energy and economy

Israeli strikes in Tehran and escalating US pressure on Iran signal a deepening conflict, even as Washington pauses attacks to allow talks. Regional tensions remain high following deadly incidents in the UAE, while shipping through Hormuz shows cautious recovery. Experts warn prolonged war could trigger global food, energy and economic shocks in the months ahead. Follow this live blog for the latest updates on the conflict and diplomatic efforts:
India has reduced taxes on diesel and petrol, the government announced Friday, as the Middle East war continues to disrupt global energy supplies.
"In view of the West Asia crisis, the central excise duty on petrol and diesel for domestic consumption has been reduced", Finance Minister Nirmala Sitharaman said in a statement, referring to the Middle East war that began late last month.
The South Asian nation, one of the world's largest crude oil importers, relies on foreign suppliers for more than 85 percent of its oil needs - with Russia being the biggest supplier.
Sitharaman said taxes on petrol and diesel have been slashed by 10 rupees ($0.11) a litre to "provide protection to consumers from rise in prices".
She also announced charges on exports of diesel and aviation turbine fuel at 21.5 rupees ($0.23) and 29.5 rupees ($0.31) per litre.
"This will ensure adequate availability of these products for domestic consumption," she added.
A Thai-flagged cargo ship that came under attack from Iran in the Strait of Hormuz and was abandoned by its crew has run aground, Iranian media reported Friday.
The Mayuree Naree came under attack March 11, with three of its mariners going missing and still not found.
The semiofficial Tasnim and Fars news agencies, believed to be close to Iran’s paramilitary Revolutionary Guard, reported that the cargo ship ran aground near the village of Ramchah on Qeshm Island.
The Israeli military said it needs more troops for deployment in southern Lebanon, where forces are engaged in fighting Hezbollah as part of efforts to establish a so-called "buffer zone".
"On the Lebanese front, the forward defensive zone that we are creating requires additional (Israeli army) forces," military spokesman Brigadier General Effie Defrin said, noting that the military is operating across multiple fronts, including the West Bank, Gaza and Syria.
Australia's leader said Friday it was not consulted over the war with Iran, responding to President Donald Trump's swipe the US ally was not doing enough.
Prime Minister Anthony Albanese said Australia was in close contact with Gulf states under attack from Iran, providing a surveillance aircraft to help defend the United Arab Emirates, where many Australians live.
"There is no request been made to Australia that has not been agreed to," Albanese told reporters in Canberra.
Secretary of State Marco Rubio is in France to meet his Group of Seven counterparts Friday after President Donald Trump attacked NATO countries over a reluctance or refusal to take part in the Iran war, a conflict that some of America's closest allies have met with deep skepticism.
Rubio will have a hard time trying to sell the other top diplomats from G7 countries on the U.S. strategy for the Iran conflict, to which almost all nations have raised objections. Trump's vitriolic comments about NATO during a Cabinet meeting Thursday will make it an even tougher task. Of the G7 nations - besides the U.S. - Britain, Canada, France, Germany and Italy are members of the transatlantic military alliance. Japan is the only one that is not.
Rubio left Washington for the G7 meeting outside Paris just hours after Trump complained bitterly about NATO countries not stepping up to help the U.S. and Israel in the Iran war.
"We are very disappointed with NATO because NATO has done absolutely nothing," Trump said.
Oil prices fell Friday after Donald Trump again pushed back a deadline for Iran to reopen the Strait of Hormuz, though most equities also dropped as traders shrugged at the news following a series of conflicting messaging from the White House.
Oil prices fell more than one percent Friday, though that only partially pared the previous day's surge amid growing anxiety that the conflict will last far longer than first thought.
Brent is up almost 50 percent since the war began on February 28, while West Texas Intermediate has risen around 40 percent.
Equities struggled following hefty losses in Wall Street.
Tokyo and Seoul, which had been the standout performers in the first two months of the year, were among the biggest losers, while Hong Kong, Sydney, Wellington, Taipei Jakarta and Manila were also sharply lower.
Shanghai and Singapore fluctuated.
Investors are also increasingly sceptical about the messaging from the White House, with Trump often flipping between threats and talk of peace.
Iran's Revolutionary Guards said on Friday they had carried out missile and drone strikes the previous day targeting sites in Israel and military facilities in the Gulf used by US forces.
The strikes involved long- and medium-range missiles and "destructive and roaming drones", and targeted sites in Israel, the United Arab Emirates, Qatar, Kuwait and Bahrain, the Guards said in a statement carried by the IRNA and Fars news agencies.
The statement said a maintenance facility for US air defence system Patriot was targeted in Bahrain.
Israel's military said its forces carried out strikes on "infrastructure" targets in Tehran early Friday, nearly a month into the Middle East war.
A brief military statement said Israeli forces "completed a wide-scale wave of strikes targeting infrastructure of the Iranian terror regime in the heart of Tehran".
The US Central Command has confirmed the death of Admiral Alireza Tangsiri even as the US military called on Iranians serving in the IRGC Navy to "immediately abandon their post and return home".
“US military strikes on the IRGC-N will continue. Therefore, we call on every Iranian serving in the IRGC-N to immediately abandon their post and return home to avoid further risk of unnecessary injury or death,” said US Admiral Brad Cooper, CentCom Commander.
Lebanese media reported an Israeli strike hit Beirut's southern suburbs early Friday, as AFP correspondents heard several explosions from the Hezbollah stronghold, which Israel has repeatedly struck since war erupted this month.
AFPTV footage showed smoke billowing from the area after the raid.
Israel has previously issued sweeping evacuation warnings for the area, but provided no specific warning in advance of Friday's strike, which came in the early hours of the morning.
Jordan has strongly condemned Iranian attack on United Arab Emirates, which resulted in the deaths of two individuals of Pakistani and Indian nationality. Several others were injured, including a Jordanian citizen, an Emirati national, and an Indian national, following fall of debris in Abu Dhabi.
Shipping lanes through the Strait of Hormuz are showing early signs of life again, with the US Department of the Treasury signaling a cautious rebound in maritime traffic — even as war tensions with Iran continue to dominate headlines.
US Treasury Secretary Scott Bessent said vessel movement in and out of the Arabian Gulf is now "increasing day by day", describing the shift as “the beginning” of a broader recovery.
"You're starting to see more and more movement in and out of the Gulf today, and this is more than yesterday, and this is the beginning."
US President Donald J. Trump announced a suspension of operations linked to targeting Iran's energy facilities for 10 days, effective until 6 April 2026. This move represents a 10-day extension of the current pause and comes as part of ongoing talks.
In a statement published on Truth Social, President Trump explained that the decision followed a request from the Iranian government. He noted that current discussions "are going very well," despite what he described as "erroneous statements to the contrary."
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