UN: Iran War Spiralling Out of Control

Emmanuel Addeh in Abuja and Nume Ekeghe in Lagos

UN Secretary-General Antonio Guterres warned yesterday that the Iran war has spun beyond all boundaries, declaring the conflict “out of control,” and cautioning that the world faces the prospect of a far broader confrontation.
Calling for an end to the military escalation, Guterres said it was time to ‘stop climbing the escalation ladder and start climbing the diplomatic ladder’ and return to full respect of international law.

Pointing to the key parties involved in the war, he told the United States and Israel that it is high time to end the war as human suffering deepens, civilian casualties mount, and the global economic impact is increasingly devastating.
Guterres urged Iran to end attacks on the Gulf countries, arguing that they are not parties to the conflict.
“More than three weeks on, this war is out of control,” Guterres told reporters at a news conference at UN headquarters in New York, adding that “the conflict has broken past the limits even leaders thought imaginable.”
“The world is staring down the barrel of a wider war, a rising tide of human suffering, and a deeper global economic shock,” he said, stressing that it “has gone too far.”

Highlighting the economic ripple effects of the war, Guterres said the prolonged closure of the Strait of Hormuz is choking the movement of oil, gas, and fertiliser at a critical moment in the global planting season.
Shipping traffic through the Strait of Hormuz, a critical artery for global goods and energy trade, had been largely disrupted by escalating tensions in the Gulf following US and Israeli attacks on Iran and Tehran’s retaliation.
The strait, which connects Saudi Arabia, the UAE, Kuwait, Qatar, Iraq, and Iran to global markets, handles roughly 25 per cent of global oil trade, about 20 per cent of liquefied natural gas trade, and nearly 30 per cent of fertiliser trade.

The UN chief turned his attention to Lebanon and said, “Israel must stop its military operations and strikes in Lebanon, which are hitting civilians the hardest,” adding, “The Gaza model must not be replicated in Lebanon.”
In efforts to de-escalate tensions, Guterres further announced the appointment of Jean Arnault of France as his “personal envoy to lead the UN efforts on the conflict and its consequences.” Arnault was the UN chief’s personal envoy on Afghanistan and regional issues in 2021.

When asked for details about Arnault’s role, Guterres said he “will be doing everything possible to support all the efforts for mediation, all the efforts for peace, to be in contact with all the parties” in the Middle East.
Guterres emphasised the need for diplomacy and full respect for international law, expressing hope that the parties involved in the Iran war will reach an understanding to end ‘this horrible’ conflict.
He added: “Because the consequences of the conflict, that is totally out of control at the present moment, are absolutely devastating.”
The region has been shaken since the US and Israel launched a joint offensive on Iran on February 28, killing more than 1,300 people, including then-Supreme Leader Ali Khamenei.

Trump Extends Planned Bombing of Iran Energy Plants by 10 Days

Besides, the U.S. will extend a pause on strikes on Iranian energy plants by 10 additional days, President Trump announced on Truth Social. The president said he’s extending the pause at the request of the Iranian government.
The president had previously announced a five-day pause striking Iran’s energy infrastructure Monday, which was set to expire on Saturday.
“As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time,” he wrote.
“Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well. Thank you for your attention to this matter,” he added last night.

Oil Settles Above $100 as Investors Fear Further Escalation

Crude futures closed higher on Thursday, rebounding from the previous session’s losses, as hopes for a swift end to the war in the Middle East faded.
Brent futures rose $5.79 or 5.7 per cent to settle at $108.01 per barrel, while the U.S. West ‌Texas Intermediate crude futures gained $4.16, or 4.6 per cent to close at $94.48 a barrel.
U.S. Special Envoy Steve Witkoff confirmed that the United States sent a “15-point action list” to Iran as a basis for negotiations to end the war. Iranian Foreign Minister Abbas Araqchi said earlier that Iran was reviewing the U.S. proposal but that there were no talks on winding down the war.

A senior Iranian official told Reuters on Thursday that the proposal was “one-sided and unfair,” even as U.S. President Trump said Iran has offered to let 10 oil tankers transit the Strait of Hormuz as a goodwill gesture in the negotiations.
“There’s pure confusion and frustration over the veracity of stories coming out of the United States and Iran. Investors are once again rotating into safer assets in an effort to preserve capital,” said Timothy Snyder, chief economist at Matador Economics, quoted by Reuters.
The war has nearly halted shipments through the Strait of Hormuz, which typically carries about a fifth of the world’s crude oil and LNG supply, in what the International Energy Agency (IEA) has called the biggest oil supply disruption ever.

W’Bank Pledges Support for Vulnerable Economies Amid Price Spikes

The World Bank Group has pledged support for vulnerable economies facing mounting pressures from the escalating conflict in the Middle East, as sharp increases in commodity prices and supply chain disruptions begin to ripple across global markets.
In a statement, the group said the impact of the crisis is extending beyond energy markets to fertilisers and other critical agricultural inputs, heightening concerns over inflation and food security, particularly in import-dependent economies. It added that it plans to scale up support by combining immediate financial assistance with policy guidance and private sector interventions to sustain growth and protect jobs.

It stated: “A number of the World Bank Group’s clients in emerging markets have reached out to us as the conflict in the Middle East has started to impact commodity prices and logistics. We are working with governments, the private sector, regional partners, and other stakeholders to help them through this new set of challenges.
“We are closely monitoring global market developments, and we are in direct contact with the most affected client countries to understand what they are facing on the ground.  Shipping route disruptions are increasing costs, and supply risks are spreading from energy into fertilisers and other critical agricultural inputs.

“Crude oil prices increased by nearly 40 per cent between February and March, the price of liquefied natural gas shipments to Asia rose by almost two-thirds, and the prices of nitrogen-based fertilisers increased by nearly 50 percent in March.  
“The World Bank Group is moving quickly to help client countries to navigate this crisis.  We are ready to respond at scale combining immediate financial relief with policy expertise and private sector support for the recovery of jobs and growth.
“We will draw on the full range of instruments we have available to support governments, firms, and households. Our aim is to deliver immediate relief by leveraging our active portfolio, our crisis response toolkit, and pre-arranged financing facilities.

“We will transition progressively to fast-disbursing instruments anchored in sound policies to underpin recovery. Through our private sector arms, we will provide firms with essential liquidity, trade finance, and working capital,” the bank said.
While acknowledging the fluid nature of the situation, the World Bank warned that prolonged disruptions and damage to infrastructure could deepen the challenges facing already fragile economies.
“Clearly, this is an evolving situation and we cannot predict the full range of impacts. As everyone has said, the longer this lasts, and the more damage there is to critical infrastructure, the more challenging this will be for our clients. That said, we are determined to be helpful and do all we can to safeguard some of the hard-won economic progress that these countries are making.”