United News of Bangladesh

Iranian President Masoud Pezeshkian on Wednesday outlined several conditions for ending the ongoing conflict with the United States and Israel, saying Tehran is committed to regional peace but expects its rights to be recognised. In a post on social media platform X, Pezeshkian said the conflict could only end if Iran’s “legitimate rights” are acknowledged, compensation is paid for damages and strong international guarantees are provided to prevent future attacks. Earlier, Iran’s armed forces warned of a major retaliation if the United States carried out strikes on Iranian ports. Abolfazl Shekarchi, spokesperson for Iran’s armed forces, told state-run IRIB TV that no port, economic centre or location in the Persian Gulf would be beyond Iran’s reach if Washington attacked Iranian port facilities. His comments came after the US Central Command posted a warning on its Persian-language account on X urging civilians in Iran to stay away from port areas where Iranian naval operations were taking place. The latest escalation follows joint US-Israeli attacks launched on Feb 28 targeting Tehran and several other Iranian cities. The strikes killed Iran’s then Supreme Leader Ali Khamenei, along with senior military commanders and civilians. Iran later retaliated by launching multiple missile and drone attacks on Israeli and US-linked targets across the Middle East.

The ongoing crisis in the Middle East has begun to impact Bangladesh's foreign exchange market, driving up the price of the US dollar for both remittance procurement and import payments. On Tuesday, commercial banks were seen purchasing remittance at a maximum rate of Tk 122.90 per dollar. Consequently, the exchange rate for settlement of import letters of credit (LCs) has climbed to Tk 123, according to banking sources. Just a week ago, the dollar rate for imports stood at approximately Tk 122.50. The recent jump of nearly 50 paisa per dollar has sparked concerns among businesses. "Banks are capitalizing on the war situation in the Middle East," an importer told the media on Tuesday. "The sudden hike in the dollar rate is increasing our import costs, the impact of which will eventually be felt by consumers,’ he said. Banking officials noted that uncertainty caused by the conflict has led foreign remittance houses to demand higher rates. While remittance dollars were previously available at Tk 122, the rate has now neared Tk 123 per dollar. Bangladesh Bank’s latest exchange rate report reflects this upward trend. The average price of the dollar, which was Tk 122.33 on March 3, has now risen to Tk 122.58. A top official of a private commercial bank stated that the central bank has issued an informal message to banks to ensure the rate does not cross the Tk 123 threshold for now. "However, if the pressure of import liabilities increases and supply remains tight, the price may rise further," the official said, adding that the central bank might need to provide dollar support from the national reserves to stabilize the market. Industry experts emphasized that moving toward a fully market-based exchange rate is crucial to increasing the supply of greenbacks in the local market.

Iranian state media reported that an Israeli strike hit an elementary girls’ school in Minab, Hormozgan province, killing at least 57 students dead and 60 others wounded. Iran's state news agency IRNA reported this information. The massive joint attack by the United States and Israel on Iran has escalated tensions across the Middle East, raising fears of a broader regional conflict. Iranian retaliation has targeted US assets in several Gulf Arab states, including Bahrain, Kuwait, Qatar, and the United Arab Emirates, where American military bases are hosted. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for strikes against “all Israeli and US military targets in the Middle East,” vowing that the operation “will continue relentlessly until the enemy is decisively defeated.” At least one person was reported killed in Abu Dhabi after Iranian missiles were intercepted, while Bahrain reported a missile attack on the headquarters of the US Navy’s 5th Fleet. The attacks have triggered widespread disruption of civil aviation. At least eight countries — Iran, Israel, Iraq, Jordan, Qatar, Bahrain, Kuwait, and the UAE — closed their airspace. Several international carriers, including Air France, British Airways, Lufthansa, Turkish Airlines, and Qatar Airways, canceled flights to the region. Middle East airspace closure also disrupts flights from Dhaka In Iran, explosions were reported in multiple cities, including Tehran, Kermanshah, Qom, Tabriz, Isfahan, Ilam, Karaj, and Lorestan province. Tehran strikes targeted University Street, Jomhouri area, and near the offices of Supreme Leader Ayatollah Ali Khamenei, along with the Islamic Revolutionary Guard Corps headquarters. US President Donald Trump outlined the campaign’s objectives, saying the US aims to “destroy their missiles and raze their missile industry to the ground” and “annihilate their navy.” He urged Iranian military personnel to surrender, promising immunity to those who comply but warning of “certain death” for those who resist. Trump acknowledged possible US casualties in the operation, which the Pentagon has dubbed “massive and ongoing.” Regional actors are closely monitoring the conflict. Kataib Hezbollah, an Iraqi paramilitary group, has threatened imminent attacks on US bases in retaliation. Russia called for an immediate halt to US and Israeli attacks, urging diplomatic resolution, while Saudi Arabia condemned Iranian missile strikes on Gulf states, warning of “dire consequences” for continued violations of sovereignty. The European Union urged restraint and diplomacy to prevent nuclear escalation. Pakistan condemned attacks on Iran, while Indonesia signaled readiness to facilitate US-Iran dialogue. The Nobel Peace Prize-winning International Campaign to Abolish Nuclear Weapons condemned the military strikes, warning that the attacks “risk provoking further escalation” and increase the danger of nuclear proliferation. Source: Agencies