Iran General NewsIran blast panics financial markets

Iran blast panics financial markets

-

The Independent: An explosion which turned out to be a dam blast in southern Iran sent jitters through financial markets amid speculation that the country’s only nuclear reactor had come under attack. The incident came as Iran and Syria announced yesterday that they would “form a common front” against external threats, and a day after the Islamic state confirmed that unmanned American spy planes were flying surveillance missions over nuclear facilities. The Independent

By Angus McDowall in Tehran and Anne Penketh

An explosion which turned out to be a dam blast in southern Iran sent jitters through financial markets amid speculation that the country’s only nuclear reactor had come under attack.

The incident came as Iran and Syria announced yesterday that they would “form a common front” against external threats, and a day after the Islamic state confirmed that unmanned American spy planes were flying surveillance missions over nuclear facilities.

Iran’s Arabic-language al-Alam satellite channel issued the first reports of an explosion in Deylam, about 100 miles from the Russian-built atomic plant at Bushehr, citing witnesses who said they had seen an aircraft fire a missile.

But the Islamic Revolutionary Guards Corps said the channel had been mistaken. Senior Israeli security sources were also quick to state that Israel had “no involvement”.

Later explanations on state television suggested that a fuel tank had fallen from an aircraft.

The news of the explosion caused international stock markets to dip, while oil futures prices jumped by nearly a dollar before settling down. By the end of the day, however, Ali Reza Afshar, deputy to the chief of staff of Iran’s armed forces, was playing down the incident. He said that “what happened was only a natural part of building work. These were heavy blasts carried out for the construction of the dam.”

The Islamic republic has been the subject of increased pressure over its nuclear power programme, which the US and Israel say is hiding substantial efforts to build an atomic bomb.

Only hours before yesterday’s explosion, the Israeli Foreign Minister, Silvan Shalom, was telling journalists at a breakfast meeting in London that Iran was just six months from reaching a critical point of knowledge that would allow it to develop a nuclear weapon.

Latest news

City Council Member in Zanjan Runs Over Protesting Worker With Car

The state-run Rouydad24 news website wrote on May 19 regarding the protests by Zanjan municipality workers: "Disregard for workers'...

PMOI Confirms Deaths of Resistance Unit Members During 2025–2026 Iran Uprising

As further details emerge from the nationwide uprising that swept across Iran from late 2025 into early 2026, the...

Urban Poverty in Iran: The Collapse of the Economy of Life in Major Cities

Urban poverty in Iran has now reached a stage where it can no longer be explained merely through income...

Gasoline Price Hikes in Iran Trigger a New Battle Over People’s Livelihoods

As Iran’s economic crisis, inflation, and declining purchasing power continue, recent remarks by Hamid Rasai, a member of the...

Paris to Host Major Rally Supporting a Free Iran on June 20

More than 100,000 people are expected to gather in Paris on June 20, 2026, to voice their support for...

Amnesty International: 2,159 People Executed in Iran in 2025

In a new report, Amnesty International stated that the Iranian regime carried out at least 2,159 executions in 2025,...

Must read

UN Fact-Finding Mission Expresses Concern over Unprecedented Rise in Executions in Iran

On the World Day Against the Death Penalty, the...

US may have to strike Iran: Republican VP prospect

AFP: Potential Republican vice presidential candidate Marco Rubio said...

You might also likeRELATED
Recommended to you