Story by Oleen Ndori, Foreign Editor
IRANIAN President Masoud Pezeshkian has outlined three conditions to end the ongoing war, which include recognition of Tehran’s legitimate rights, payment of reparations and firm international guarantees against future aggression.
This comes as the conflict continues with no end in sight, and oil prices continue to have a ripple effect across economies.
Since the start of the war, Brent crude, the international benchmark, has surged more than 35 percent and over time, higher oil prices are expected to push up the costs of goods, including food and fuel.
The International Monetary Fund has estimated that for every 10 percent rise in the price of oil that is sustained for a year, global inflation rises 0.4 percent.
Close to 2000 people have been killed in the conflict that began on the 28th of February across the Middle East.
