INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Iran warns of ‘explosion’ after US veto on Gaza war

US Ambassador Alternate Representative of the US for Special Political Affairs in the United Nations Robert A. Wood raises his hand during a United Nations Security Council meeting on Gaza. AFP
  • On Friday, the United States vetoed a Security Council resolution that would have called for an immediate ceasefire in Gaza
  • Hossein Amir-Abdollahian, the top diplomat of the Islamic republic, also appealed for the immediate opening of the Rafah border crossing with Egypt

Tehran, Iran – Iran warned Saturday of the threat of an “uncontrollable explosion” of the situation in the Middle East, after the United States vetoed a UN Security Council resolution calling for a ceasefire in the Gaza war.

Hossein Amir-Abdollahian, the top diplomat of the Islamic republic, also appealed for the immediate opening of the Rafah border crossing with Egypt to enable humanitarian aid to be sent into the Gaza Strip.

Fighters from the Iran-backed Palestinian group Hamas launched an unprecedented attack on southern Israel on October 7, killing about 1,200 people, and taking around 240 hostages, according to Israeli officials.

Israel, whose main ally is the United States, vowed to destroy Hamas in response and unleashed an offensive that the health ministry in the Hamas-run Gaza says has killed more than 17,400 people in the Palestinian territory, also mostly civilians.

On Friday, the United States vetoed a Security Council resolution that would have called for an immediate ceasefire in Gaza, saying the resolution “would leave Hamas in place able to repeat what it did on October 7.”

“As long as America supports the crimes of the Zionist regime (Israel) and the continuation of the war… there is a possibility of an uncontrollable explosion in the situation of the region,” Amir-Abdollahian told UN Secretary-General Antonio Guterres in a phone call, according to a foreign ministry statement.

The Iranian foreign minister praised the UN chief’s decision to use Article 99 of the UN Charter as “brave action to maintain international peace and security”.

Fighting resumed between Israel and Hamas on December 1 following a one-week truce that Israel says Hamas violated.

“The Israeli regime’s claim that Hamas has violated the ceasefire is completely false,” Amir-Abdollahian told Guterres, adding that US support for Israel “has made it difficult to achieve a lasting ceasefire”.