Iran war lifts global prices; Philippines, Egypt act
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- The Philippines endorsed a 30-day price ceiling on a key good, alongside fuel subsidies and public transport expansion, to curb rising food and energy costs driven by the Iran war, as reported by FP's Joseph Rachman.
- Egypt implemented a month-long policy, including dimming streetlights and early closures for businesses, to address the energy crisis sparked by the Iran war, according to FP's Nosmot Gbadamosi.
- Afghanistan and Pakistan each took escalatory steps in their intensifying conflict, which comes at an awkward time for Pakistan, positioning itself as a potential peace broker in the U.S.-Israel-Iran war, notes FP's Michael Kugelman.
- Russia expelled a British diplomat over unspecified accusations, coinciding with a broader crackdown that has severely curtailed internet access, as previously reported by Alexey Kovalev.
- The average price of a gallon of gas in the United States crossed a notable threshold for the first time since 2022, with war-related disruptions potentially worsening if Houthis threaten Red Sea shipping, warns FP's Keith Johnson.
- U.S. President Donald Trump is considering a response to allies' reluctance to join the war against Iran, despite Raphael S. Cohen's argument that the war is going reasonably well for Israel and the United States.
- Mexico's president appointed Roberto Velasco, an expert in an unspecified field, as the new foreign minister amidst increased U.S.-Mexico tensions, including Washington's economic blockade of Cuba, as Oscar Lopez wrote in February.
Why it matters: The Iran war is directly causing rising food and fuel prices, leading to a 30-day price ceiling in the Philippines and energy-saving policies in Egypt.
