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A bulk carrier sailing near Iran’s coast in the Strait of Hormuz region was attacked by multiple small craft, Britain’s maritime monitoring agency has said. In a brief statement of Sunday, the United Kingdom Maritime Trade Operations (UKMTO) said that all crew members aboard the unidentified vessel were “reported safe” after the incident, which took…
US President Donald Trump unveiled an initiative called “Project Freedom”, aimed at assisting commercial vessels currently stranded in the Strait of Hormuz amid rising tensions in the Gulf region.In a post on Truth Social on Sunday (local time), Trump said that multiple countries had requested American assistance to help their ships safely exit the strategically…
The United States has warned shipping companies that they could face sanctions if they make payments to Iran for safe passage through the Strait of Hormuz. The alert, issued Friday by the US office of foreign assets control, comes amid rising tensions over control of the strategic waterway.The Strait of Hormuz, through which about a…
US President Donald Trump has earned a new nickname as tensions over Iran and the Strait of Hormuz fuel fresh market and political commentary. Analysts are now moving from the earlier ‘TACO’ label for US President to a new term ‘NACHO’.The shift comes amid ongoing blockade between the Trump administration and Iran over control and…
US President Donald Trump on Thursday shared a modified map renaming the Strait of Hormuz as the “Strait of Trump” after claiming that the naval blockade against Iran could continue for months.Trump posted the image on his Truth Social account that labelled the strategic Strait of Hormuz as the “Strait of Trump” with no caption….
TOI correspondent from Washington: US President Donald Trump on Tuesday claimed that Iran is “in a state of collapse” and is urgently pleading with Washington to reopen the Strait of Hormuz, projecting an image of a weakened adversary desperately seeking relief. But developments on the ground suggest a far more complex reality: a hardened maritime…
Collectively, OPEC nations account for roughly 36 per cent of global oil output. (AI image) In a significant move which may have implications for the world oil market, the United Arab Emirates (UAE) has announced that it will pull out of OPEC and OPEC+ alliances. The move comes amid the ongoing Middle East crisis which…
Wars and geopolitical conflicts often have unexpected impacts for economies. Countries are struggling with tight energy supplies and companies in the Gulf are forced to rethink their production volumes. The key question is, what impact will the Middle East conflict have on Indian companies?While most Indian retailers are facing losses amid supply concerns, the Iran…
Nearly all Indian refiners, except Numaligarh Refinery, are now importing Russian crude. (AI image) India’s imports of crude oil from Russia have dropped from the highs seen in March when the supply disruptions from the Middle East caused by the US-Iran war and the Strait of Hormuz closure prompted refiners to step up buys from…
A Russian-linked superyacht has sailed through the Strait of Hormuz despite the ongoing blockade of the strategic waterway, according to marine tracking data and media reports reviewed by the BBC. The vessel, Nord, is linked to sanctioned Russian billionaire Alexey Mordashov, a close ally of Russian President Vladimir Putin.The 142-metre luxury yacht travelled from Dubai…
