Attacks on facilities by both sides in the conflict this week threaten grave consequences for the global economy
Middle East crisis – live updates
The escalating attacks on key oil and gas projects in the Middle East are expected to fuel a new phase of the ongoing conflict, with profound consequences for the world’s energy supplies and the global economy.
The Iran regime has vowed to target a string of key energy infrastructure across the region after warning that an Israeli strike on a production facility for its largest gasfield at South Pars on Wednesday had ignited a “full-scale economic war”.
South Pars is part of the world’s largest natural gasfield, which is shared by Iran and Qatar. It is located offshore between the two Gulf states and forms a domed extension to Qatar’s giant North Field.
