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World Economy Mar 23, 2026

Cuba Overcomes 29-Hour Nationwide Blackout Amid US Oil Blockade

Cuba has restored its power grid and brought online its largest oil-fired power plant, ending a 29-…
Cuba has successfully restored its power grid and brought its largest oil-fired power plant back online, ending a 29-hour nationwide blackout that affected the country's 10 million people. The blackout, which began on Monday, was caused by a combination of factors, including a US oil blockade that has severely impacted Cuba's fuel supply.The country's national power grid had fully come back online by 6:11 pm (22:11 GMT) on Tuesday. However, officials have warned that power shortages may continue due to insufficient electricity generation. The Antonio Guiteras power plant, a decades-old facility that underpins the country's power grid, was successfully fired up by midday on Tuesday.The US oil blockade, imposed by President Donald Trump, has had a significant impact on Cuba's economy and daily life. The blockade has restricted Cuba's access to oil imports, leading to dire fuel shortages and antiquated power plants struggling to meet demand. As a result, most Cubans, including those in Havana, have been experiencing 16 or more hours of blackout daily even before the latest grid collapse.The situation has led to heightened tensions between Cuba and the US, with Cuban President Miguel Diaz-Canel criticizing the US's "almost daily public threats against Cuba." The US State Department has blamed the Cuban government for the grid collapse, calling blackouts a "symptom of the failing regime's incompetence." Despite the challenges, Cubans have shown resilience, with many residents staying calm and adapting to the difficult circumstances.Cuba and the US have opened talks aimed at defusing the crisis, which is among the most acute since 1959. However, neither side has provided details of the ongoing negotiations. The situation remains a significant challenge for both countries, with the Cuban people bearing the brunt of the impact.
#power #cuba #grid
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World Economy Mar 23, 2026

Iran War Enters Critical 24th Day: Escalation, Market Fallout, and Rising Casualties

As the US-Israel military campaign against Iran enters its 24th day, a critical deadline for the St…
The military campaign launched by the United States and Israel against Iran has entered its 24th day, bringing the region to a precarious juncture. As US President Donald Trump’s 48-hour ultimatum for Iran to reopen the Strait of Hormuz approaches its expiration at 23:44 GMT on Monday, Tehran has issued stern warnings regarding the potential targeting of its electricity grid. In response, Iran has vowed to strike the energy and water systems of its Gulf neighbors, raising fears of a broader regional energy crisis.The conflict is already having tangible repercussions on the global economy. Financial markets are reacting sharply to the escalating tensions, with stocks in China and Hong Kong on track for their worst performance in nearly a year. The uncertainty has fueled stagflation fears, prompting UK Prime Minister Keir Starmer to convene an emergency meeting to address the mounting economic fallout.In Iran, the situation remains volatile. The Israeli military has conducted a wide-scale wave of strikes targeting infrastructure across Tehran, resulting in powerful explosions reported in the central, southern, and eastern parts of the capital. Verified footage shows massive columns of fire and smoke rising over Karaj following an air attack. The Iranian Revolutionary Guard Corps (IRGC) has retaliated by threatening attacks on power plants in Israel and those supplying electricity to US bases, while also targeting a turbine engine production site in Qom used for drone components.The conflict has also spilled over into Gulf Cooperation Council (GCC) nations. Saudi Arabia’s Ministry of Defence confirmed that two ballistic missiles were launched toward Riyadh, with one intercepted and the other falling in an uninhabited area. The UAE reported debris injuries in the al-Shawamekh area, while Bahrain confirmed attacks on the US Fifth Fleet. In Qatar, seven people were killed in a helicopter crash, and Kuwait has formally protested airspace violations to the International Civil Aviation Organization.The human toll continues to rise. In Israel, alerts were triggered across Jerusalem and central Israel following explosions, with the casualty toll from attacks on Dimona and Arad climbing to at least 180 injured. In Lebanon, authorities report that at least 1,029 people have been killed since March 2, with over 100 of the victims being children. In Iraq, at least 60 people have been killed, primarily among pro-Iran Popular Mobilisation Forces.
#iran #killed #war
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World Mar 23, 2026

Iran's Threat to Destroy Gulf Water Facilities Sparks Fears of Mass Disruption

Iran has threatened to destroy water infrastructure in Gulf countries if the US attacks its electri…
Iran has issued a stark warning to Gulf countries, threatening 'irreversible destruction' of their water infrastructure if the US follows through on its threat to attack Iran's electricity grid. This move has raised fears of a severe disruption to water supplies in the region, which heavily relies on desalination plants for drinking water.The Gulf countries, including Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman, are highly dependent on these plants, with some countries relying on them for up to 90% of their water supply. For example, Kuwait gets 90% of its water from desalination plants, while Saudi Arabia relies on them for around 70%.Desalination plants are considered critical civilian infrastructure in the Gulf, as they turn seawater into drinking water through a process called reverse osmosis. These plants are situated on the coast, making them an easy target for an Iranian attack, and disabling them would have a significant impact on civilian populations and industries.Iran has already followed through on a similar threat in the past, targeting a desalination plant in Bahrain after one of its own plants was hit. Analysts have warned that any disruption to water infrastructure could trigger a major escalation in the conflict, given the potential economic and civilian impact.The impact of targeting desalination plants would be severe, with most Gulf countries only having water reserves to last around a week. If plants are struck and capacity is taken out, the impact would be quick and severe, potentially wiping out water supplies to major cities in a matter of days.
#water #plants #gulf
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World Economy Mar 23, 2026

US Agrees to Pay $1 Billion to French Energy Company to Cancel Wind Farm Projects

The US government has agreed to pay French energy company TotalEnergies $1 billion to cancel its pl…
The Trump administration has announced it will pay French energy major TotalEnergies $1 billion to kill plans to construct wind farms off the US east coast. This decision comes as a fuel crisis triggered by the war in Iran drives up global fossil fuel prices.The deal is the latest blow to the US offshore wind industry, which has faced repeated disruptions to multi-billion-dollar projects under Donald Trump. Trump has expressed his dislike for wind turbines, citing their ugliness, cost, and inefficiency, and his administration has moved to increase domestic fossil fuel production.In the deal, TotalEnergies will give up two offshore leases it had purchased off New York and North Carolina. The US Department of the Interior will reimburse the company $928 million it paid for the leases under Joe Biden. TotalEnergies has pledged not to develop any new offshore wind projects in the country and will invest nearly $1 billion this year in the development of four trains at the Rio Grande LNG plant in Texas, and the development of upstream conventional oil in the US Gulf and shale gas production.Critics of the deal, including climate advocates and environmental groups, argue that it will deepen the country's dependence on volatile fossil fuel markets and undermine efforts to transition to cleaner energy sources. They also point out that offshore wind projects can provide reliable and affordable power to the grid. The decision has been met with criticism from groups such as Oceantic Network, Evergreen Action, and Sierra Club, who argue that it will leave American consumers struggling to pay their electricity bills and undermine efforts to address climate change.
#wind #energy #offshore
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