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Mojtaba Khamenei’s Rise Sparks Market Turmoil as Hardliners Mobilize

People attend a gathering to support Iran's new supreme leader Mojtaba Khamenei, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, March 9, 2026.  Iran’s hardline factions mounted a powerful show of support for newly appointed Supreme Leader Mojtaba Khamenei , rallying across Tehran in a display that signaled a tightening of conservative control and diminished hopes for de-escalation in the Middle East.  The demonstrations, marked by mass gatherings and imagery linking Mojtaba to his late father, Ayatollah Ali Khamenei, underscored the regime’s consolidation at a moment of heightened regional conflict.  Analysts warn that the hardliners’ unified backing suggests Iran is unlikely to soften its stance amid ongoing tensions with the U.S. and Israel. Global markets reacted sharply. Fears that prolonged instability could further disrupt energy supplies sent oil prices soaring and triggered steep declines in major stock indices. With one of the most significan...
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Ireland, Spain, and Norway Recognize Palestinian State: A Historic Move

                             

In a significant and historic development, Ireland, Spain, and Norway have officially recognized the state of Palestine. The move has drawn both praise and criticism from various quarters.

Recognition and Reactions

  • Ireland: Irish Prime Minister Simon Harris described the recognition as “an historic and important day for Ireland and for Palestine.” The decision was coordinated with Spain and Norway, with the aim of advancing the Israeli-Palestinian conflict toward a peaceful resolution through a two-state solution.

  • Spain: Spain’s Prime Minister Pedro Sanchez announced the recognition in the Spanish Parliament. European Union countries Spain and Ireland, along with Norway, have taken this step amid international outrage over the civilian death toll and humanitarian crisis in the Gaza Strip following Israel’s offensive.

  • Norway: Prime Minister Jonas Gahr Store and Foreign Minister Espen Barth Eide jointly made the announcement in Oslo. Israel’s Foreign Minister Israel Katz swiftly ordered the return of Israel’s ambassadors from both Norway and Ireland in response to the recognition.

Israel’s Reaction

Israel has expressed strong disapproval, considering this move a “gift to Hamas.” The recognition has further strained relations between Israel and the three European nations.

Formal Recognition Date

The formal recognition of the Palestinian state is set for May 28, 2024. This decision marks a significant milestone in the ongoing Israeli-Palestinian conflict and has implications for regional dynamics.


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