Putin escalates Middle East diplomacy amid US-Israeli strikes on Iran

Russian President Vladimir Putin has stepped up Middle East diplomacy, holding a phone call with UAE counterpart Mohammed bin Zayed Al Nahyan. Both leaders expressed "serious concern" over the deteriorating regional situation and emphasized the need for a rapid end to hostilities and renewed political-diplomatic efforts that respect the "legitimate interests of all states." This Russian diplomatic push comes as US-Israeli strikes on targets in Iran continue unabated, with Iranian officials accusing "war criminals" of hitting civilian sites including pharmaceutical plants.

Tanker attacks and soaring fuel costs are adding to regional tensions. In the Gulf, loud explosions were reported off the coast of Dubai after an Iranian drone hit a fully loaded Kuwaiti tanker. Meanwhile, average US gasoline prices rose to $4 per gallon on Tuesday, the highest since 2022, even as global oil benchmarks edged slightly lower. Moscow has reiterated it will not sell oil or gas to "unfriendly" nations as the energy shock deepens.

On the military front, the Pentagon held its sixth briefing since the conflict began, with US Defense Secretary Pete Hegseth talking up Operation Epic Fury. Meanwhile, Iran's Islamic Revolutionary Guard Corps warned it will begin targeting US tech companies in the region from April 1. Tensions are also spreading to Lebanon, where Israeli attacks have forced more than 200,000 people to flee into Syria.

The diplomatic landscape remains volatile, with US President Donald Trump lashing out at European allies for refusing to join the US-Israeli war on Iran, calling France's refusal to allow overflights by Israel-bound US supply planes "very unhelpful." Trump had previously suggested Tehran's "new regime" is "very reasonable" and that a deal could be reached "soon," even as he continues to make further threats against Iran.