Iran Strike on Key Aluminum Producer Threatens Global Supply Chains [View all]
Source: Newsweek
Published Mar 28, 2026 at 12:42 PM EDT updated Mar 28, 2026 at 02:29 PM EDT
United Arab Emirates (UAE) enterprise Emirates Global Aluminium (EGA) said Saturday that an Iran strike hit the company's facilities, with the extent of damage still unknown. In a statement issued on the company website, company leadership said the Al Taweelah site "sustained significant damage during the Iranian missile and drone attacks at Khalifa Economic Zone Abu Dhabi," adding that "assessment of the damage is ongoing."
Why It Matters
The Iran war has lasted for nearly a month after joint U.S.-Israel strikes on Tehran killed Ayatollah Ali Khamenei and several dozen other high-ranking officials in the country. Over the course of the war, 13 U.S. military service members have been killed and many others injured. An Iran strike, a mixture of missiles and drones, on the Prince Sultan Air Base in Saudi Arabia on Friday injured 10 service members and damaged several American aircraft as the most recent example.
However, the conflict's toll has reached far beyond the battlefield as Iran leans on every lever of economic power it has, including the closure of the Strait of Hormuz. Iran's strikes have also hit major industrial infrastructure across the Middle East, prompting several major oil producers to declare force majeure as they struggle to produce and export oil.
Gas and oil prices have continued to climb since the strait's closure, with the national average price for gas remains close to $4 a gallon, with some states, mainly those on the West Coast, already nearing $6 a gallon, according to AAA. Oil has crossed $100 a barrel again as of Saturday.
Read more: https://www.newsweek.com/iran-strike-key-aluminum-producer-threatens-global-supply-chains-11751726
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