The United States has countered a declaration by Iran’s Islamic Revolutionary Guard Corps (IRGC) that the Strait of Hormuz has been closed to commercial maritime traffic. Pinnacle Daily reports that Iran on Saturday, announced it was closing the vital shipping route again, claiming the U.S. and Israel have violated the ceasefire deal contained in a …
Ongoing tensions in the Strait of Hormuz are disrupting global energy and fertilizer flows. Shipping through the key waterway has dropped the by over 95 per cent. This sharp decline is affecting oil, gas, and fertilizer movement worldwide. Energy prices have surged across regions due to the disruptions. Higher oil and gas costs are pushing …
The President of the European Commission, Ursula von der Leyen, on Monday warned that the ongoing war involving Iran is already affecting Europe, citing rising energy prices, security threats and disruptions to global trade. Speaking to European Union ambassadors, von der Leyen said the ripple effects of the conflict are spreading beyond the Middle East. …
