• 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

Trump says Marines have seized an Iranian-flagged cargo ship that tried to evade blockade after Navy blew a ‘hole in the engineroom’
PoliticsIran
Trump says Marines have seized an Iranian-flagged cargo ship that tried to evade blockade after Navy blew a ‘hole in the engineroom’
By Michelle L. Price, Samy Magdy, Sam Metz and The Associated PressApril 19, 2026
42 minutes ago
The jet-fuel surge is making global flight connections disappear
EnergyAirline industry
The jet-fuel surge is making global flight connections disappear
By Danny Lee, Kate Duffy, Sri Taylor and BloombergApril 18, 2026
23 hours ago
U.S. extends waiver on Russian oil sanctions to ease Iran war shortages, just days after Treasury Secretary Scott Bessent ruled it out
EnergyRussia
U.S. extends waiver on Russian oil sanctions to ease Iran war shortages, just days after Treasury Secretary Scott Bessent ruled it out
By The Associated PressApril 18, 2026
1 day ago
The U.S. is ready to seize Iran-linked ships with boarding parties, report says, while Marines practice maritime raids
PoliticsIran
The U.S. is ready to seize Iran-linked ships with boarding parties, report says, while Marines practice maritime raids
By Jason MaApril 18, 2026
1 day ago
Iran’s Hormuz whiplash highlights divide within regime as U.S. blockade tightens. ‘The fight between different factions has started’
PoliticsIran
Iran’s Hormuz whiplash highlights divide within regime as U.S. blockade tightens. ‘The fight between different factions has started’
By Jason MaApril 18, 2026
1 day ago
air canada
EnergyAirline industry
Air Canada suspends all summer flights to New York’s JFK airport on Iran-surging fuel price
By The Associated PressApril 18, 2026
1 day ago

Most Popular

'We should absolutely be concerned about non-college-educated men today': higher rents, living at home, falling out of the labor market
Economy
'We should absolutely be concerned about non-college-educated men today': higher rents, living at home, falling out of the labor market
By Catherina GioinoApril 18, 2026
2 days ago
The record-setting U.S. drought is so bad that 97% of the Southeast and two-thirds of the West are parched
North America
The record-setting U.S. drought is so bad that 97% of the Southeast and two-thirds of the West are parched
By Seth Borenstein and The Associated PressApril 18, 2026
1 day ago
MacKenzie Scott has donated more than $26 billion—but it's barely made a dent in her net worth because of the power of Amazon shares
Success
MacKenzie Scott has donated more than $26 billion—but it's barely made a dent in her net worth because of the power of Amazon shares
By Sydney LakeApril 18, 2026
1 day ago
Putin finally admits Russia's economy is in trouble and grasps for answers, after warnings about a financial crisis have been piling up
Economy
Putin finally admits Russia's economy is in trouble and grasps for answers, after warnings about a financial crisis have been piling up
By Jason MaApril 18, 2026
24 hours ago
The $6 billion Vatican Bank was beset by scandals, disastrous investments—and ties to the Mafia. How Pope Francis tried to fix it
Banking
The $6 billion Vatican Bank was beset by scandals, disastrous investments—and ties to the Mafia. How Pope Francis tried to fix it
By Marco Quiroz-GutierrezApril 18, 2026
1 day ago
Thousands of CEOs admit AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago
AI
Thousands of CEOs admit AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago
By Sasha RogelbergApril 19, 2026
7 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.