US blockade of Iranian ports to continue amid Iran war
The United States has announced that its naval blockade of Iranian ports will continue for an indefinite period amid ongoing conflict in the region.US Defense Secretary Hegseth stated that the blockade will last "as long as it takes" to achieve strategic objectives.The blockade is currently restricting Iranian maritime trade, significantly impacting the country's ability to export and import goods through its ports.This military measure is part of a broader US strategy in the ongoing Iran war.The blockade has contributed to shortages of jet fuel within Iran and has disrupted global energy markets, highlighting the wider economic consequences of the conflict.Officials... [Continue Reading]
360LiveNews | 16 Apr 2026 15:01 LONDON
Europe faces jet fuel shortages amid Iran war disruptions
Europe is facing a significant jet fuel shortage, with supplies estimated to last only about six weeks due to disruptions caused by the ongoing war involving Iran.The conflict has led to the effective closure of the Strait of Hormuz, a critical route for oil exports from the Gulf region.Fatih Birol, executive director of the International Energy Agency (IEA), warned that flight cancellations could occur soon if oil supplies from the Middle East are not restored in the coming weeks.He highlighted the urgency of the situation in an interview, noting the potential for immediate impacts on air travel.The shortage is expected... [Continue Reading]
360LiveNews | 16 Apr 2026 13:31 LONDON
UK Government Plans for Potential Food Shortages Amid Iran War
The UK government is actively preparing for possible food shortages this summer due to disruptions linked to the ongoing conflict in Iran.Officials have confirmed contingency plans are being drawn up in case the Strait of Hormuz remains closed, which could disrupt supplies of carbon dioxide (CO2) critical for food preservation and animal slaughter.Staple items such as chicken, pork, and fizzy drinks could face shortages if CO2 supplies break down, according to government sources and recent reports.Business Secretary Peter Kyle acknowledged the scenario planning publicly, emphasizing that while the leaks about these plans were unhelpful, the public should be reassured that... [Continue Reading]
360LiveNews | 16 Apr 2026 09:01 LONDON
UK economy grows faster than expected in February despite looming Iran war impact
The UK economy expanded by 0.5% in February, surpassing expectations, according to official data from the Office for National Statistics (ONS).This growth follows a revised figure for January, which showed a 0.1% increase, up from an initial estimate of no growth.These figures reflect economic activity before the outbreak of the US-Israeli war with Iran on 28 February.The conflict has since triggered a significant energy shock, raising concerns about its potential to disrupt global economic stability.The International Monetary Fund (IMF) has responded by lowering its growth forecast for the UK, identifying it as the most vulnerable among advanced economies to the... [Continue Reading]
360LiveNews | 16 Apr 2026 07:33 LONDON
China's Economy Grows Faster Than Expected in Q1 2026 Despite Iran War Impact
China's economy expanded by 5% year-on-year in the first quarter of 2026, surpassing economists' forecasts despite ongoing global disruptions linked to the US-Israel war with Iran.Official data released on April 16 showed GDP growth exceeded the anticipated 4.8% figure.This marks the first official GDP release since Beijing lowered its annual growth target to between 4.5% and 5% in March, the lowest since 1991.The growth rebound from the previous quarter's 4.5% was primarily driven by manufacturing, with exports such as cars identified as a significant positive factor.However, the economy continues to face challenges, including a decline in property investment.The timing of... [Continue Reading]
360LiveNews | 16 Apr 2026 06:42 LONDON
US Treasury Secretary defends short-term economic pain for long-term security amid Iran war
US Treasury Secretary Scott Bessent has stated that the economic downturn caused by the ongoing US-Israel conflict with Iran is a necessary sacrifice to prevent the threat of Iranian nuclear strikes on Western capitals.Bessent emphasized that while the global economy faces challenges, the long-term security benefits outweigh the short-term economic costs.The International Monetary Fund (IMF) has warned that the war could push the global economy into recession, with global growth potentially falling below 2% in 2026 if oil, gas, and food prices spike and remain high.Despite these warnings, Bessent expressed confidence that the US and Israeli military actions have reduced... [Continue Reading]
360LiveNews | 14 Apr 2026 19:33 LONDON
