European Union countries must funnel their energy aid chiefly to vulnerable households and industries or risk wasting billions of euros as the Iran war hits oil and gas prices, European Commission President Ursula von der Leyen warned on Wednesday.

The U.S.-Israel war, combined with retaliation from Iran such as choking the Strait of Hormuz, is costing the EU almost 500 million euros ($600 million) a day, raising prices at the pumps and fears of a jet fuel shortage within weeks.

The Iranian rial plummeted to a record low against the dollar on Wednesday, according to currency-tracking websites, as a U.S. naval blockade of the country's ports continued.

On the black market, the rial was trading at around 1.80 million rials against the dollar, the Bonbast and AlanChand websites reported. When the war erupted two months ago, one dollar was traded at about 1.70 million rials.

Russia's traditional parade marking the 81st anniversary of the defeat of Nazi Germany in World War II will take place without military equipment, the Russian Defense Ministry said in a statement late Tuesday.

It will be the first time since Moscow launched its full-scale invasion of Ukraine in 2022 that no military equipment will rumble through Moscow's Red Square on May 9, the day Russia celebrates its most important secular holiday and showcases its military might.

The European Union accused Meta on Wednesday of failing to stop underage users from accessing Facebook and Instagram, in violation of the bloc's tough digital rules that require social media sites to protect minors.

The EU's executive branch said Meta Platforms lacked effective measures to prevent children younger than 13 from signing up, and that it was not doing enough to identify and remove children after they had opened accounts.

King Charles III and Queen Camilla are headed to New York on Wednesday as part of their closely watched diplomatic visit to the U.S.

The royal couple's swing through the city comes midway through a four-day trip marking 250 years of American independence. It will be the first trip to New York by a reigning British monarch since Queen Elizabeth II visited in 2010.

Stocks mostly advanced in Asia on Wednesday despite losses on Wall Street, while oil prices fell after the United Arab Emirates said it would leave OPEC in a blow to the powerful oil cartel.

U.S. futures edged higher.

Ambassador Danny Danon said it’s impossible to talk about peace in Lebanon without mentioning Hezbollah.

“Hezbollah is not just set on Israel’s destruction. It is Lebanon’s greatest obstacle to sovereignty. It has weakened the Lebanese government,” he told a ministerial meeting of the U.N. Security Council.

A brief statement by the Israeli army said a civilian employee of an engineering company, who was working with the military on projects in southern Lebanon, died in a drone attack.

Despite a ceasefire in Lebanon, Israeli forces and Hezbollah militants have been intermittently attacking each other in the south, where Israeli soldiers are occupying a slice of territory along the border.

The human rights organization made the statement Tuesday after a video circulated on social media showing Israeli military excavators destroying solar panels for the Lebanese border village of Debel and its water station.

The Israeli military said on Tuesday it found and destroyed a large Hezbollah tunnel network used by elite fighters in south Lebanon, near Israel's northern border.

Israel has been fighting Hezbollah since early March, sending troops into south Lebanon to battle the Iran-backed group after it launched rockets at Israeli territory, with the violence ongoing despite a shaky April 17 ceasefire.