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Oil prices jump nearly 3% as Iran-US tensions rise

Feb 27, 2026, 20:40 GMT+0

Oil prices climbed around 3% on Friday amid escalating tensions between the Islamic Republic and the United States, as traders weighed the risk of potential supply disruptions.

By Friday afternoon GMT, Brent crude futures were up 2.8% at $72.76 per barrel, while US West Texas Intermediate (WTI) crude rose 3.2% to $67.32 per barrel.

Market participants have been closely monitoring the escalating tensions between Tehran and Washington, as well as the possibility of a military confrontation that could disrupt oil supplies from Iran and across the region.

Reuters reported on Wednesday that Saudi Arabia has increased oil production in an effort to offset any potential shortfall in global supply from the Middle East.

Tehran has repeatedly warned in the past that it could close the Strait of Hormuz if attacked, a step that would disrupt one of the world’s most vital oil export routes.

Estimates from the US Energy Information Administration show that roughly 20 million barrels per day of crude oil and petroleum products—about one-fifth of global consumption—pass through the strait each day.

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Reports of power shifts in Tehran put spotlight on Larijani

Feb 27, 2026, 20:38 GMT+0
•
Maryam Sinaiee

Recent reports in Western outlets on alleged shifts inside Iran’s ruling establishment—particularly the growing role of Ali Larijani—have triggered a mix of denials, dismissals and cautious commentary in Tehran.

The reports come amid heightened tensions between Iran and the United States, as indirect talks continue while President Donald Trump has repeatedly warned that military strikes remain an option if diplomacy fails and Washington has expanded its military presence in the region.

The New York Times cited Iranian officials this week as saying Tehran has prepared contingency plans in case of war with the United States or Israel, including scenarios in which senior leaders—even Supreme Leader Ali Khamenei—could be killed.

According to the report, the planning is designed to ensure continuity of the Islamic Republic under extreme circumstances, with several senior figures named as part of that contingency structure, including security chief Larijani, parliament speaker Mohammad Bagher Ghalibaf and former president Hassan Rouhani.

The report also suggested that Larijani’s expanding role has reduced the visible influence of President Masoud Pezeshkian in day-to-day governance.

Separately, Le Figaro published a controversial account alleging that during the height of nationwide protests Khamenei was the target of an internal effort led by Rouhani to sideline him from crisis management.

According to the French newspaper, Rouhani gathered several political figures—including former foreign minister Mohammad Javad Zarif, clerics from Qom and individuals linked to the Revolutionary Guards—to discuss an alternative leadership arrangement.

Le Figaro said the effort ultimately failed, partly because Larijani did not support the initiative. Rouhani’s office rejected the account outright, describing it as a US-Israeli “fabrication” aimed at “creating doubt and concern in Iranian public opinion.”

Larijani has not publicly addressed either report.

Following the 12-day war with Israel, Khamenei appointed Larijani as secretary of the Supreme National Security Council, despite the Guardian Council previously disqualifying him from running in the presidential election.

Salar Velayatmadar, a member of parliament’s National Security and Foreign Policy Commission, said Larijani now plays “a decisive role in policymaking.”

“The council’s view is central in indirect negotiations with the United States,” he said. “Basically, the negotiations are taken from this council, word by word.”

Iranian media widely republished the New York Times and Le Figaro reports but mostly avoided detailed analysis.

The conservative newspaper Farhikhtegan dismissed the French report as a “fictional scenario” and a “diverse basket of strategic lies,” arguing that such narratives were designed to undermine “national cohesion.”

By contrast, the news outlet Eghtesad24 suggested the New York Times report portrays Larijani as a “crisis manager” operating across multiple arenas—from nuclear diplomacy to regional strategy and wartime planning.

Despite relying on unnamed sources, the outlet wrote, the report reflects an apparent effort by Iran’s political system to adapt to a more dangerous regional environment by strengthening internal coordination and resilience.

US designates Iran as state sponsor of wrongful detention

Feb 27, 2026, 19:38 GMT+0

US Secretary of State Marco Rubio on Friday designated Iran a state sponsor of wrongful detention, citing its pattern of hostage-taking and arbitrary detention of Americans.

“The Iranian regime must stop taking hostages and release all Americans unjustly detained in Iran, steps that could end this designation and associated actions,” Rubio said in a statement.

“If Iran does not stop, we will be forced to consider additional measures, including a potential geographic travel restriction on the use of US passports to, through, or from Iran,” he added. "No American should travel to Iran for any reason. We reiterate our call for Americans who are currently in Iran to leave immediately."

Italy urges citizens to leave Iran citing unstable security conditions

Feb 27, 2026, 19:22 GMT+0

Italy’s foreign ministry on Friday urged its citizens to leave Iran and advised extreme caution across the Middle East, citing persistently unstable security conditions.

“Italians in (Iran) for tourism or whose presence is not strictly necessary are urged to depart,” the ministry said, adding that travel to Iraq and Lebanon is also strongly discouraged.

The ministry also advised Italian nationals in Israel to exercise maximum caution and remain vigilant

Protests and crackdown spill into Iranian sport

Feb 27, 2026, 18:54 GMT+0
•
Maryam Sinaiee

The Islamic Republic’s harsh response to recent protests has spilled beyond politics into sport, where athletes now face a stark choice: compete in silence or risk reprisal.

As families hold 40th-day memorials and students continue demonstrations on university campuses, the country’s widening crisis has left athletes weighing personal conscience against state pressure.

In the early days of unrest, athletes across disciplines signaled support through Instagram posts. Before the January crackdown, former national football team captain Mohammad Khakpour responded online to the Supreme Leader’s characterization of protesters as “rioters.”

“One cannot expect perpetual silence from the people who are being crushed under the burden of high prices, unemployment, and insecurity and then have their voices silenced by labeling them as rioters.”

He added: “The people who come to the streets defenselessly have neither weapons nor a platform; they only have voices. Silencing their voices with force, bullets, batons, or fear neither solves the problem nor makes the wound smaller."

Some have gone further. Goalkeeper Rashid Mazaheri, long known for outspoken criticism, published a defiant Instagram post on Wednesday addressing the Supreme Leader directly: “Khamenei, beware that your rule on this divine land has ended.”

In the same message, he wrote that being a champion means standing against injustice, not winning medals: “We won’t bow our heads to you!”

The post was removed within hours. His wife wrote on Instagram that she feared for his life and would hold the government responsible for his safety. Supporters interpreted the message as confirmation he had been detained, though authorities have not commented and his whereabouts remain unclear.

The pressure has also reshaped national team rosters. Two women’s national team footballers preparing for the Women’s Asia Cup in Australia this month—Zahra Alizadeh and Kousar Kamali—publicly withdrew from the squad.

Kamali wrote: “When the heart is wounded and the soul is exhausted, football is no longer a refuge. I can’t pretend everything is normal.”

“This decision is not born of anger, but of awareness; it is not out of disrespect, but out of respect for my conscience. I say goodbye not to football, but to the national team — in the hope that one day it will again be possible to play for the people with a peaceful heart.”

Symbolic gestures have also drawn scrutiny. In recent weeks, some footballers have refrained from celebrating goals altogether or marked them with muted gestures reflecting protest or solidarity rather than triumph.

In several competitions, players have reportedly been barred from wearing black armbands or other signs of mourning.

According to Sami Sport FC, match supervisors have been instructed to suspend games if players use black clothing, ribbons or armbands. Facing possible disqualification and citing mounting security pressure, the club announced it would withdraw from the remainder of the season.

Two weeks earlier, Sami Sport players entered the pitch in black kits and armbands. After scoring, they covered their faces in a gesture of mourning rather than celebrating.

The episodes echo earlier moments when Iranian athletes declined to sing the national anthem—reminders that even arenas meant for national unity have become sites of political contest.

The stakes are likely to rise further this year. Iran has qualified for the World Cup, and all three of its group-stage matches are scheduled to be played in the United States. The tournament will place the team under intense international scrutiny, including from a large Iranian diaspora that has become increasingly vocal.

During the 2022 World Cup, many fans harshly criticized the national team and even called for a boycott, accusing players of indifference to the “Women, Life, Freedom” protests and to the state’s violent crackdown.

This time, the political climate is even more charged. Iranian society has grown more radicalized, repression much harsher and mistrust deeper than three years ago.

The government is likely to exert tight control over players to prevent any gestures of dissent on the sport’s biggest stage. But with global attention fixed on the team, even silence—or the absence of it—may carry political meaning.

Omani foreign minister, VP Vance discuss Iran in Washington meeting

Feb 27, 2026, 18:39 GMT+0

Oman's Foreign Minister Badr Albusaidi met US Vice President JD Vance in Washington DC on Friday, where he "shared details of the ongoing negotiation between the United States and Iran and the progress achieved so far," he said in a post on X.

"I am grateful for their engagement and look forward to further and decisive progress in the coming days. Peace is within our reach."