Latest Global energy concerns mount as Iran threats stop cargo through Strait of Hormuz

Dubai, Mar 11 (AP) The ongoing Israeli-American war on Iran, for all its complexity and global effects, boils down to a single question: Who can take the pain the longest?
     A surge in oil prices points to what may be Iran's most effective weapon and the United States' biggest vulnerability in continuing the campaign: Damaging the world economy.
     Wednesday's major developments include Iranian attacks against commercial ships across the Persian Gulf and its targeting of Dubai International Airport, escalating a campaign of squeezing the oil-rich region as global energy concerns mount.
     The US campaign of air strikes also continues, and the Israeli military said it is simultaneously striking across Iran as well as Hezbollah infrastructure in Beirut.
     The war has killed at least 1,230 people in Iran, at least 550 in Lebanon and 12 in Israel, according to officials in those countries. The Pentagon said Tuesday that about 140 US service members have been wounded, with 108 of them back on duty. Eight suffered severe injuries and seven have been killed. An Israeli intelligence assessment indicates that Iran's new supreme leader also was wounded at the start of the war.
    
     Here is the latest:
    
     Netanyahu advisor says Iranians must seize their future, as 'plan B' not an option
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     Michael Eisenberg, general manager of the Aleph venture capital fund, told The Associated Press Wednesday that he hopes Iranians will seize this opportunity to claim their freedom, as it's currently the only option on the table.
     He said the war's goals include enabling the Iranian people to take hold of their future in what he called a once-in-a-generation opportunity.
     He acknowledged that people could risk death if they rise up, but said “freedom has a price. People pay. Sometimes with their life.”
     “What Israel and the United States have done together is reduce the cost of freedom for the Iranian people,” he said. “It's time to leave this evil death cult regime behind.”
     When asked in the interview if there's a plan B if that doesn't transpire, Eisenberg said: “Plan B is not on the table right now.”
    
     Putin speaks with the UAE's leader
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     Russia's President Vladimir Putin spoke about the war Wednesday with the United Arab Emirates president, Sheikh Mohamed bin Zayed Al Nahyan.
     The Kremlin said in a readout that the leaders “continued their exchange of views on the dangerously deteriorating situation in the Middle East, which has grave consequences for Iran and the Arab countries.”
     In his second call with Al Nahyan since the start of the Iran war, Putin emphasized “the need to stop the further escalation of the conflict and settle it through talks.” He also thanked Al Nahyan for offering assistance and support to Russian citizens in the UAE.
    
     Monitors report a dozen incidents involving vessels since the war began
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     At least 12 incidents have been confirmed involving vessels in and around the Strait of Hormuz since the war began, according to two global trackers.
     The International Maritime Organisation reports 12 involving merchant vessels as of Wednesday. IMO secretary-general Arsenio Dominguez earlier said at least seven mariners had been killed.
     And the United Kingdom Maritime Trade Operations center, run by the British military, says it has received 17 reports of incidents affecting vessels in and around the Arabian Gulf, Strait of Hormuz and Gulf of Oman as of Wednesday. It lists 13 attacks and four others as “suspicious activity,” involving tankers, tugs, cargo and other vessels.
    
     Iranian women's soccer team is staying in Asia until it's safe to travel home
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     The team members who didn't request asylum in Australia may remain in Malaysia longer as Asian football authorities explore options for their onward travel.
     “There is a possibility that they may remain in Malaysia longer if necessary,” Asian Football Confederation secretary-general Windsor John told the Scoop online news portal. He was quoted as saying that the AFC was also discussing with several countries in Asia about temporarily hosting the team.
     He said the AFC had arranged for the team to travel from Sydney to Kuala Lumpur at short notice after it became clear the squad could not immediately return to Iran. They arrived in Malaysia early Wednesday, and their accommodation and related costs will be covered by the AFC, he said.
     Windsor separately was quoted by the New Straits Times as saying the players were in “good condition and spirits” and looking forward to return to Iran. Windsor couldn't be immediately reached for comments.
    
     Iran questions World Cup participation
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     The head of Iran's Football Federation raised doubts about whether Iran will take part in the World Cup that will be held across North America in June, after several members of the Iranian women's soccer team sought asylum in Australia.
     Mehdi Taj told Iranian state media in an interview broadcast on Tuesday that members of the women's soccer were coerced into staying in Australia, and accused Trump of interfering, referring to the soccer players as “hostages.”
     Iran is scheduled to play its first match against New Zealand on June 16 in Los Angeles.
     “If the outlook for the World Cup is like this, no reasonable person would accept to send their national team to such a place,” he said.
    
     European Union issues new sanctions on Iran for serious 'human rights violations'
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     EU foreign policy chief Kaja Kallas said Wednesday that the 27-nation bloc is issuing new sanctions on 19 Iranian officials and entities.
     “As the Iran war continues, the EU will protect its interests and pursue those responsible for domestic repression,” the EU's top diplomat said in a social media post. “It also sends a message to Tehran that Iran's future cannot be built on repression.”
     A spokesperson for the European Commission did not immediately provide additional details.
    
     Iran threatens to stop all oil shipments through the Strait of Hormuz
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     Iran threatened to not allow “even a single litre of oil” to pass through the Strait of Hormuz for the US, Israel, or their allies.
     A spokesperson for Khatam Al-Anbia, which operates the Revolutionary Guard-owned companies, said any ship or oil cargo that belongs to the US, Israel, or its allies will be a legitimate target.
     Under normal circumstances, around 20 per cent of the world's oil and natural gas is shipped through the narrow channel that leads to the Persian Gulf. Fears about the geopolitical situation have caused the price of oil to swing wildly.

     Japan plans to start releasing its own oil reserves
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     Japanese Prime Minister Sanae Takaichi said Wednesday that her country will start releasing its own oil reserves starting Monday to minimize the fallout of the war in the Middle East.
     More than 90 per cent of Japan's oil imports come from the Middle East, most of the shipment pass through the Strait of Hormuz.
     Japan has oil reserves worth 254 days. With the strait virtually being blocked, however, oil imports to Japan are expected to significantly decrease from the end of March, Takaichi said.
    
     Iran cracks down on criticism on social media
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     Iran has arrested 81 people who have posted information on social media the authorities deem unacceptable during wartime, Iran's state TV reported.
     “Since we are at war, we will act like it, those in social media who cause tension for the public mind will be considered the enemy and will be treated as such,” Ahmad Reza Radan, the commander-in-chief of the Islamic Republic's security forces, said on state TV late Tuesday.
     He said the people who post critical things or repost things connected to Iran's enemies will face lengthy prison sentences and possibly executions.
     Several other countries in the Middle East have also instituted similar bans.
     Israel has restrictions on sharing photos and videos that show specific locations of strikes. Several dozen have been arrested in Bahrain and Qatar for sharing “misleading” opinions and information online, according to DAWN, a Washington-based rights organisation. (AP)
    
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(This story has not been edited by THE WEEK and is auto-generated from PTI)