Business

Global markets brace for prolonged volatility as economic

  • 30th May 2026

Lagos waste recovery facilities to create 5,000 new

  • 30th May 2026

PoS operators threaten to suspend Verve card transactions

  • 30th May 2026

Dangote Sugar launches massive ₦486bn rights issue

  • 30th May 2026

Contact Info

Some Populer Post

OPay surpasses 45m users, expands merchant network nationwide

Business

Global markets brace for prolonged volatility as economic shock

Business

Anthropic becomes most valuable AI firm after $65bn raise

Tech

Dangote Refinery slashes petrol gantry price by ₦25 to

featured Oil and Gas
  • Home
  • Strait of Hormuz

Tag: Strait of Hormuz

News

Trump, Iran nearing historic deal to reopen Strait of Hormuz

Donald Trump has announced that the United States and Iran are close to finalising an agreement aimed at ending tensions between the two countries, with discussions now focused on concluding the final details. In a statement issued late Saturday, Trump said the proposed deal would include the reopening of the Strait of Hormuz, a key […]

Oil and Gas

Iran threatens tariffs on Strait of Hormuz internet cables

Iran has threatened to impose tariffs on Strait of Hormuz submarine cables, which are crucial for the region’s digital economy. After a sustained blockade of the Strait of Hormuz and leaving the world scrambling for oil and energy supplies, Iran’s Islamic Revolutionary Guard Corps demanded “protection fees” from foreign cable operators to provide them with […]

featured Oil and Gas

Iran sets up new body to manage Strait of Hormuz

Iran’s top security authority said on Monday it has established a new body to oversee operations in the Strait of Hormuz, a strategic waterway Tehran has effectively restricted and is now seeking to impose charges on vessels passing through. In a post on its official X account, the Supreme National Security Council announced the creation […]

News

Strait of Hormuz closed only to our enemies — Iran

Iran has said the Strait of Hormuz is open to shipping from all friendly countries and closed only to its “enemies”. The war in Iran has turned the Strait of Hormuz into a choke point so critical that one misstep could rattle every economy on Earth. “From our point of view, the Strait of Hormuz […]

featured Transportation

EU explores alternative gulf energy routes amid US-Iran war

The ongoing Iran conflict and resulting disruption to global energy flows have pushed the European Union to explore alternative energy transport routes in the Middle East, as soaring oil and gas prices strain member states and expose vulnerabilities linked to the Strait of Hormuz. European Commission President Ursula von der Leyen said the bloc is […]

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 […]

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 […]

Business featured

Fraudsters demand crypto for safe passage through Strait of Hormuz – Report 

Fraudulent messages promising safe passage through the Strait of Hormuz in exchange for cryptocurrency have been sent to several shipping firms, according to Reuters on Tuesday, citing a maritime security company. Greek risk advisory firm MARISKS said unidentified individuals posing as Iranian officials contacted companies with vessels stranded west of the strategic waterway, demanding transit […]

Oil and Gas

Tankers turn back as Hormuz crisis deepens shipping chaos

Traffic once again seized up in the Strait of Hormuz as both Tehran and Washington imposed separate blockades, with Iranian vessels continuing to test the United States shutdown, tracking data showed Monday. Iran announced on Friday that it would reopen the strategic waterway, but the United States did not reciprocate for vessels going to and […]

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 […]

Opinion

China slams US Hormuz blockade as ‘dangerous, irresponsible’

China accused the United States on Tuesday of “dangerous and irresponsible” behaviour over its blockade of Iranian ports, with President Xi Jinping vowing Beijing would play a “constructive role” in promoting peace in the Middle East. US President Donald Trump has threatened to sink ships entering or leaving Iranian ports and coastal areas in the […]

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Email Us: [email protected]

ambusinessng @2025. All Rights Reserved.

Facebook-f Pinterest-p Youtube Instagram Linkedin-in