• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
EnergyIran

Tehran briefly loses power after strikes as peace push ramps up

By
Patrick Sykes
Patrick Sykes
,
Sherif Tarek
Sherif Tarek
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Patrick Sykes
Patrick Sykes
,
Sherif Tarek
Sherif Tarek
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
March 29, 2026, 6:27 PM ET
A plume of smoke rises from the site of a strike in Tehran on March 29, 2026.
A plume of smoke rises from the site of a strike in Tehran on March 29, 2026.ATTA KENARE / AFP via Getty Images

Parts of Tehran lost electrical power after missile strikes on Sunday as Iran and its proxies lobbed attacks at US allies over the weekend and thousands more American military personnel moved into the region.

Recommended Video

The arrival of a US amphibious assault group and the introduction of the Iran-backed Houthis to the conflict raised fears of a possible escalation of the war entering its second month, even as Pakistan, Egypt, Saudi Arabia and Turkey met to find a path out.

Pakistan’s Foreign Minister Ishaq Dar said after the meeting with his counterparts that “both Iran and US have expressed their confidence in Pakistan” to host future talks, although neither side has indicated they are ready to meet.

There’s still little sign that Iran and the US will meet for peace talks soon, even though President Donald Trump has pushed for negotiations as US gas prices soar in a congressional election year. He delayed his deadline to April 6 for Tehran to agree to reopen the Strait of Hormuz or have its power plants demolished. Iran rejected a 15-point proposal from Trump and insisted on war reparations and other demands Trump is unlikely to accept.

Electricity supply was cut in parts of Tehran, the capital of Iran, and nearby Alborz province after attacks on facilities in the area, the state-run Islamic Republic News Agency reported Sunday. It was largely restored within an hour.

The International Atomic Energy Agency concluded Sunday that Iran’s Khondab heavy water production plant had sustained severe damage from a strike. Heavy water is used in nuclear power plants as well as for weapons-grade plutonium. One of the stated aims for the war is to destroy Iran’s nuclear capabilities.

Iranian Supreme Leader Mojtaba Khamenei issued remarks for the first time in about a week on Saturday, thanking Iraqi religious authorities for their support, according to state-run Hamshahri newspaper. Khamenei, who took over when his father, Ayatollah Ali Khamenei, was killed during the initial hours of the war, still hasn’t been seen in public since his appointment and the US says he’s injured, perhaps badly. 

The Houthis launched ballistic missiles at Israel on Saturday morning, following US-Israeli strikes on Iranian nuclear facilities, including the Khondab plant. Tehran also struck aluminum producers in Bahrain and the United Arab Emirates.  

The Washington Post reported that the US Defense Department was preparing for potentially weeks of ground operations in Iran, citing unidentified US officials. Any mission would likely first focus on opening the Strait of Hormuz, the strategic waterway through which a fifth of seaborne global oil flowed before the war but which has now slowed to a trickle, inflicting the biggest supply disruption in the history of the global oil market.

“Our men are waiting for American soldiers to enter on the ground,” Iranian Parliament Speaker Mohammad Bagher Ghalibaf said, according to the semi-official Tasnim news agency. 

The strait has emerged as Iran’s main source of leverage in the war and Tehran is drafting a law to govern passage through the waterway. It will include sections related to shipping security, the collection of fees and the establishment of a “regional development and progress fund,” the semi-official Fars news agency cited lawmaker Alireza Salimi as saying on Sunday.

Read More: The Strait of Hormuz Energy Shock Is About to Head to the West

“What the Iranians are really doing is waging war on the world economy,” Daniel Yergin, vice chairman of S&P Global, said on Fox News’s Sunday Morning Futures. “They’re trying to turn the Strait of Hormuz — an international waterway — into, basically, an Iranian canal that they can control and extract money from.”

Pakistan on Saturday said it had reached a deal with Tehran to allow 20 of its ships passage, while Bahrain on Sunday announced a ban on fishing and pleasure boats at night, citing the Iranian threat. Saudi Arabia has managed to reroute some of its oil around the strait, with its East-West pipeline now operating at its full capacity of 7 million barrels a day, according to a person familiar with the matter. 

The Houthis could complicate that — the Red Sea port of Yanbu, through which 5 million barrels of Saudi exports are now flowing, is well within their missile range. The group said it would continue operations until US-Israeli attacks on the Islamic Republic and its proxy militant groups, including Hezbollah in Lebanon, cease.

In a sign of the conflict’s long reach, French anti-terrorism authorities are investigating a foiled bombing near the Bank of America Corp. headquarters in Paris that they said appeared to be linked to the Middle East conflict.

A strike on Prince Sultan Air Base in Saudi Arabia on Friday that wounded at 15 US troops also damaged a US E-3 Sentry, according to a person familiar with the matter who asked not to be identified discussing sensitive military operations. Such aircraft, which cost roughly $300 million, are equipped with airborne warning and control system radar to help track drones and missiles. Unverified photos of the jet showed its tail completely severed, rendering it unflyable.

One person was killed in an Iranian strike on Tel Aviv, according to Israel’s emergency services. Israel’s invasion of southern Lebanon continued over the weekend, with strikes killing two journalists on Saturday, according to Lebanon’s state-run NNA.

On Sunday, Israeli Prime Minister Benjamin Netanyahu instructed the military to widen the buffer zone in southern Lebanon, saying in a video posted to social media that he’s “determined” to restore security to residents in the north and wipe out Iran-backed Hezbollah.

The US military said in a social media post on Saturday that it had struck more than 11,000 targets and destroyed more than 150 Iranian vessels since the conflict began. The Israel Defense Forces said a wide-scale wave of strikes overnight targeting missile production and storage sites in Tehran had been completed.

The war has left over 4,500 people dead, according to governments and non-governmental agencies. Around three-quarters of fatalities have been in Iran, while more than 1,200 people have died in Lebanon. Dozens of people have been killed in Israel and Gulf Arab states, and 13 US troops have died.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Patrick Sykes
See full bioRight Arrow Button Icon
By Sherif Tarek
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Energy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Energy

EnergyIran
Tehran briefly loses power after strikes as peace push ramps up
By Patrick Sykes, Sherif Tarek and BloombergMarch 29, 2026
2 hours ago
EnergyDow Jones Industrial Average
Dow futures fall 300 points as Wall Street braces for potential U.S. ground assault on Iran and Houthi attacks that could slash oil supplies further
By Jason MaMarch 29, 2026
2 hours ago
EnergyOil
Russia was expecting a windfall from soaring oil prices, but relentless Ukrainian drone attacks are devastating nearly half its export capacity
By Jason MaMarch 29, 2026
7 hours ago
iran
EnergyGlobal Economy
Global economy takes gut punch from war in Iran, with nobody untouched the longer it goes on
By Paul Wiseman and The Associated PressMarch 29, 2026
8 hours ago
big tech
EnvironmentData centers
Big tech was embracing clean energy and turning a corner on climate change. Then AI data centers arrived
By Tammy Webber and The Associated PressMarch 29, 2026
9 hours ago
Elon Musk, in front of a blue "World Economic Forum" background, puts his hand to his mouth.
EnergyElon Musk
Elon Musk warns the U.S. could soon be producing more chips than we can turn on. And China doesn’t have the same issue
By Sasha RogelbergMarch 29, 2026
11 hours ago

Most Popular

Europe
413,793 KitKat bars stolen: 'Whilst we appreciate the criminals’ exceptional taste, the fact remains that cargo theft is an escalating issue'
By Fortune EditorsMarch 28, 2026
1 day ago
Energy
Saudi pipeline to bypass Hormuz hits 7 million barrel goal
By Fortune EditorsMarch 28, 2026
1 day ago
Economy
U.S. debt suddenly draws weaker demand as $10 trillion must be rolled over this year amid Iran war. 'The bond market remains undefeated'
By Fortune EditorsMarch 28, 2026
1 day ago
Energy
Elon Musk warns the U.S. could soon be producing more chips than we can turn on. And China doesn’t have the same issue
By Fortune EditorsMarch 29, 2026
11 hours ago
Success
Meetings are not work, says Southwest Airlines CEO—and he’s taking action by blocking his calendar every afternoon from Wednesday to Friday 
By Fortune EditorsMarch 27, 2026
3 days ago
Success
She left a Silicon Valley VC to solve a problem left untouched for 88 years. Now her bra brand is the fastest-growing at Nordstrom
By Fortune EditorsMarch 29, 2026
14 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.