The joint US-Israeli strikes on Iran represent a further erosion of the international legal order. Under international law, these attacks are neither preemptive nor lawful. Israel and the United States launched Operation Shield of Judah and Operation Epic Fury while diplomatic negotiations between Washington and Tehran were actively underway on Iran’s nuclear programme. Just two days earlier [on February 27], the most intense round of US-Iran talks concluded in Geneva, with both sides agreeing to continue. US President Donald Trump indicated he would give negotiators more time. Then came the bombs. Neither preemptive nor legal, US‑Israeli strikes on Iran have blown up international law The illegality of the attack Israel said the strikes were “preventive”, meaning they were to prevent Iran from developing a capacity to be a threat. But preventive war has no legal basis under international law. The UN Security Council did not authorise any military action, meaning the sole lawful...
The State Bank of Pakistan (SBP) on Monday maintained its key policy rate at 10.5 per cent. The announcement was posted on the central bank’s X account. A formal statement by the Monetary Policy Committee is awaited. Analysts had widely expected the policy rate to remain unchanged, with Topline Securities noting that the decision was in line with their expectations. A Reuters poll conducted earlier this month also indicated a consensus for a hold, as rising global energy prices and escalating regional tensions cloud the inflation outlook and limit the central bank’s room for further cuts. All 10 analysts surveyed by Reuters anticipated that the State Bank of Pakistan would keep the policy rate at 10.5 per cent, after policymakers maintained the rate at the same level in January. The State Bank has cut the key rate by a cumulative 1,150 basis points since mid-2024, from a record 22pc in 2023, as inflation cooled sharply from multi-decade highs. Pakistan has begun to feel ...