THE WORLD TODAY #269, 03 MARCH 2026
Glynnis Winona Beschi, Lekshmi M K, Siddhi Halyur, Tonica Sharon C, Yesasvi Koganti

US-Iran War, Day 04:
US and Israel hit inside Iran; Missiles and drones strike the US embassy in Riyadh; Washington orders evacuation of non-emergency personnel from diplomatic missions, as Iran threatens to close the Strait of Hormuz
On 03 March, it marks the 4th day of the US - Israel and Iran war. The war has expanded across the Middle East region, leading to violence and economic disruption. Explosions were reported in Tehran and Bahrain, as US and Israeli air strikes hit the targets inside Iran and Iranian-aligned forces in Lebanon. In response, Iranian drones and missiles struck US diplomatic posts in the region, causing fire at the US embassy in Riyadh, Saudi Arabia. In response to escalating threats, Washington ordered the departure of non-emergency personnel and family members from diplomatic missions in Bahrain, Iraq and Jordan, expanding earlier precautionary measures across the Gulf. Iran has threatened to close the Strait of Homuz which has spiked the cost of crude and transport across the world. Global stock markets fell due to disruptions in energy flows from the East. Israel’s PM Benjamin Netanhyu stated that the war could take “sometime” but would not stretch into years like previous Middle East wars. According to the Iranian Red Crescent Society, 787 people have been killed across Iran, with the toll rising as bombing continues. Russia raised an alarm about fighting near Iran’s Bushehr nuclear facility, warning of potential risks.

France: “The next 50 years will be an era of nuclear weapons,” says President Macron
On 03 March, President Emmanuel Macron announced a major expansion of France’s nuclear arsenal in response to a growing, unstable strategic environment. He declared that the next 50 years will be an "era of nuclear weapons," considering the global threats to be the reason for the shift in defense policy. As a part of this policy shift, France has decided to increase their warheads beyond 300 and launch a new nuclear-armed submarine, the Invincible, in 2036. The French Government has decided not to disclose the exact number of weapons in its possession to the public. Under the new "Advanced Deterrence" framework, eight European allies have agreed to participate in joint exercises and host French nuclear bombers at their air bases. This allows France to distribute its nuclear forces across Europe. These partners will also help develop technologies like space-based alarms and air defenses. President Macron emphasised that the President of France holds the sole authority to authorize a nuclear strike. This strategy is intended to strengthen European security and work alongside NATO’s current defense systems.

Oil, Gas and Shipping: Prices increase, as the conflict surge; LNG tankers price increase by forty per cent
On 03 March, supertanker costs in the Middle East hit an all-time high of more than USD 400,000 as the US-Iran conflict intensified, with Iran warning that it would attack ships passing through the Strait of Hormuz. Iran’s attack on Gulf countries has prompted them to shut down the oil and gas facilities as a precautionary measure. The freight rates for LNG tankers jumped by more than 40 per cent and could rise above USD 100,000 this week. Atlantic rates rose by forty-three percent and Pacific rates rose by forty-five per cent. The disruption has caused oil and gas prices to spike and stock market indices to stumble. Crude oil prices could pass USD 100 per barrel, and US petrol could rise by twenty-five per cent. UK gas prices have doubled, surging by more than 46 per cent. The UK’s FTSE 100 index fell by 2.6 per cent, Germany’s Dax fell by 3.7 per cent, and France’s CAC-40 fell by 3 per cent.

Pakistan and Afghanistan War: 42 civilians killed in cross-border fighting, says the UN agency
On 03 March, the United Nations Assistance Mission in Afghanistan (UNAMA) reported that 42 civilians had been killed and 104 wounded in Afghanistan in the ongoing clashes with Pakistan between 26 February and 02 March 2026. The civilian casualties were caused by airstrikes and indirect fire during cross-border clashes. UNAMA has called for an immediate halt to fighting and urged both sides to protect civilians and allow humanitarian access.

The US and Rwanda: Washington sanctions Kigali’s military officials over alleged backing of M23 rebels in eastern Congo
On 03 March, according to media reports, the US imposed sanctions on the Rwanda Defence Force and senior military officials, including the army chief of staff. The sanctions were imposed on Rwanda for allegedly backing the AFC/M23 rebel group in eastern DRC. The US Treasury stated that Rwandan support enabled rebels to expand their control beyond their original boundaries, with the State Department accusing Rwanda of enabling serious human rights abuses. However, Rwanda denied the allegations, calling sanctions unjust, and stated that it would continue to follow US-mediated disengagement procedures that Congo failed to meet. Congo welcomed the move as a show of support for its sovereignty. Despite a US-led peace deal signed in December, conflict continues, with AFC/M23 recently claiming responsibility for a drone attack on Kisangani’s airport, raising fears of wider regional escalation.