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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 […]

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US-Iran war may raise condom prices in Nigeria — Experts

Health experts have warned that prices of condoms may increase in Nigeria, and likely lead to shortages if the crisis in the Middle East disrupting global oil supply chains continues. The experts in the pharmaceutical sector explained that the ongoing conflict between the United States and Iran was already disrupting supplies and raw materials used […]

Oil and Gas

US-Iran war pushes France trade deficit to €6.9bn

Rising oil prices owing to the Iran war saw France’s trade deficit widen by 1.4 billion euros in March to 6.9 billion euros, authorities said Thursday. According to AFP, imports hit 59.3 billion in March, an increase of 1.8 billion over the previous month. Customs authorities stated that was largely due to the “rise in […]

Oil and Gas

Nigeria eyes ₦6.8trn oil windfall from US-Iran war

Nigeria could record an additional N6.8 trillion in oil revenue in 2026 as rising crude prices driven by the ongoing US-Iran conflict strengthen the country’s fiscal outlook. This is according to BMI, a unit of Fitch Solutions, in its latest Sub-Saharan Africa market assessment for April, which also raised Nigeria’s 2026 growth forecast. The report […]

featured Travel

UAE bans travel to Iran, Iraq, Lebanon amid tensions

The United Arab Emirates Ministry of Foreign Affairs on Thursday announced a travel ban preventing Emirati nationals from visiting Iran, Lebanon and Iraq, citing escalating regional tensions linked to the ongoing Middle East conflict. According to AFP, the move comes amid heightened insecurity following a prolonged crisis triggered by a United States and Israeli military […]

Oil and Gas

Oil prices climb as Iran war talks stall again

Oil prices rose Monday as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened. While the White House has said Donald Trump and his team were considering Tehran’s latest proposal to restore traffic through the waterway, CNN and the Wall Street Journal […]

News

Trump cancels Iran peace talks in Pakistan

United States President Donald Trump announced he had cancelled his envoys’ planned trip to Pakistan for peace talks with Iran on Saturday, but said that did not mean an immediate resumption of the US-Israeli war against the Islamic republic. Shortly before the announcement, Iranian Foreign Minister Abbas Araghchi wrapped up his own diplomatic visit to […]

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 […]

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