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Middle East war: global economic fallout Paris, France, March 11 (AFP) Mar 11, 2026 Here are the latest economic events in the Middle East war on Wednesday:
The Iran-linked hacking group Handala claimed responsibility for a cyberattack on US medical technology giant Stryker, saying it had extracted 50 terabytes of data in retaliation for the US war on Iran.
Major indices in the United States and Europe fell, while markets closed mixed in Asia. Crude prices pushed higher despite the International Energy Agency announcing its members had agreed to unlock 400 million barrels of oil from their reserves -- their largest release ever.
The US and Israel "must consider the possibility that they will be engaged in a long-term war of attrition that will destroy the entire American economy and the world economy", Ali Fadavi, adviser to the Revolutionary Guards' commander-in-chief, told state television.
"This situation in no way justifies lifting the sanctions that exist against Russia," he said after a video call with other G7 leaders to discuss the war's economic fallout.
Iraqi officials later said they had rescued 20 crew of an oil tanker that came under an unspecified attack in the country's territorial waters.
US finance group Citi and British consultancy Deloitte evacuated offices in Dubai's financial centre, while PwC, another British consultancy, closed offices in Saudi Arabia, Qatar, the UAE and Kuwait.
The White House subsequently stated that the US Navy had not escorted any tankers through the strategic Gulf passage. Iran's Revolutionary Guards said no US Navy vessel has "dared" to approach the strait.
A driver working at the complex, who asked not to be named, told AFP they saw "bursts of fire rising from the complex, with loud sounds like explosions".
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