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Tag: Iran

News

Iran sets conditions for reopening Strait of Hormuz

Iran set preconditions on Saturday for a reopening of the Strait of Hormuz, including compensation for war damages, complicating a potential deal to open the waterway essential to the world economy. Tehran has imposed an effective blockade of the strait since the United States and Israel struck Iran in late February, and wants to charge […]

Policy and Regulations

US expands sanctions on Iran’s oil shipping network

The United States on Tuesday expanded its sanctions targeting Iran’s oil sector, taking further aim at the network of petroleum shipping magnate Mohammad Hossein Shamkhani, the Treasury Department said. Treasury Secretary Scott Bessent said the department had also frozen $130 million held in digital wallets linked to Iran’s central bank, hitting a sector that has […]

Transportation

Iran, Oman to agree on Strait of Hormuz service fee

Iran and Oman will study the costs to be charged for services provided in administering the Strait of Hormuz, the two countries said Tuesday, insisting they held sovereignty over the waterway. Tehran has repeatedly said it plans to charge what it calls maritime service fees for crossing the strait, as opposed to tolls, a plan […]

Opinion

Macron warns Iran against tolls on Strait of Hormuz

French President, Emmanuel Macron, on Monday cautioned Iran against introducing tolls on maritime traffic passing through the Strait of Hormuz, insisting that “everything” must be done to prevent any charges on vessels using the strategic waterway. This comes after Iran’s Fars news agency reported that Tehran had inserted a clause on maritime service fees into […]

News

Iran refuses to reopen Strait of Hormuz amid US naval blockade

Iran has officially vowed not to reopen the Strait of Hormuz for as long as a United States naval blockade remains active. This defiance persisted into Thursday despite an extension of the ceasefire, with the Gulf nation announcing it had seized two ships attempting to navigate the strategic waterway. United States Central Command reported late […]

News

Trump extends Iran ceasefire amid ongoing diplomatic negotiations

United States President Donald Trump has announced an extension of the ceasefire with Iran beyond its initial two-week timeline, stating that the truce will remain in place until negotiations are concluded and a formal proposal is submitted by the Iranian government. Trump disclosed this in a post on Truth Social on Tuesday, explaining that the […]

Maritime

Iran seizes two vessels in Strait of Hormuz

Iran’s Islamic Revolutionary Guard Corps on Wednesday announced that its naval forces intercepted two vessels attempting to cross the Strait of Hormuz and redirected them to Iranian territorial waters, heightening tensions around one of the world’s most critical maritime routes. In a statement, AFP reported that the Guards disclosed that the operation took place earlier […]

Oil and Gas

China denies US claim over seized Iran-bound vessel

China on Wednesday firmly denied claims that a vessel intercepted by the United States was carrying a “gift” from Beijing to Iran, pushing back against allegations made by United States President Donald Trump a day earlier. Trump had alleged that an Iranian-flagged ship seized by US forces in the Gulf of Oman on Sunday contained […]

Business

Condom prices may rise amid Iran supply disruptions — Karex

The chief executive of Karex, the world’s largest condom manufacturer, has warned that prices could increase by as much as 30 per cent or more if ongoing tensions involving Iran continue to disrupt access to critical raw materials. Goh Miah Kiat disclosed that production costs have surged significantly since the escalation of the conflict, putting […]

Business

Hormuz vessel traffic slumps after brief weekend surge

Observed commercial transits through the Strait of Hormuz have come to a near standstill, marking a sharp reversal after a brief surge in traffic on Saturday, as escalating regional tensions disrupt one of the world’s most critical maritime trade routes. No new vessel crossings were recorded on Sunday, according to tracking data, after Iranian forces […]

featured Oil and Gas

Oil prices drop as Iran declares Strait of Hormuz ‘completely open’

Oil prices plunged Friday after Iran’s Foreign Minister Abbas Araghchi said the vital Strait of Hormuz was “completely open” for commercial tankers and cargo ships during the US-Iran ceasefire. International benchmark Brent North Sea crude plunged 10 per cent to $89.11 a barrel, after earlier falling five percent on US-Iran peace deal hopes. The main […]

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