Iran says its non-oil trade has fallen by around 30% since the war began, but figures from several of its biggest trading partners point to far steeper declines in some of the country’s most important commercial relationships.
Sanctions can make Iran’s military and nuclear activities costlier and more difficult but cannot bring down the Islamic Republic on their own, former US Treasury official and weapons procurement expert Kerri Bitsoff told Iran International.
Oil tanker loading resumes at Iran’s Kharg Island, TankerTrackers says For the first time since late July, an Iranian tanker was seen loading crude at the Kharg Island on Friday, according to maritime tracking service TankerTrackers. A National Iranian Tanker Company Very Large Crude Carrier (VLCC) was seen loading 2 million barrels of crude at the Azarpad jetty on Kharg Island on 14 August. Iran has continued loading tankers at other terminals, with the country's oil production appearing to be roughly in line with refinery runs, or domestic consumption, suggesting the country may not need to export significant volumes of crude, TankerTrackers said in a post on X.
Oil climbs over $1 a barrel as expert warns of ‘day of reckoning’ Crude oil futures climbed over $1 a barrel on tanker attacks and a lack of progress on a peace agreement between the US and Iran. Reuters reported that Brent futures settled at $88. 52 a barrel, up $1.
Trump urges Americans to accept higher oil prices US President Donald Trump has urged Americans to accept slightly higher gasoline prices as the cost of preventing Iran from obtaining a nuclear weapon. The comments underscore the growing political risk for Trump as higher fuel prices collide with his campaign promise to lower energy costs, with Democrats already seeking to make the economic fallout from the Iran war an issue heading into the November midterm elections. In a speech in Garden City, Trump said Americans who had to "pay a tiny little bit more for your gasoline" should remember that this was the cost of ensuring "a very evil country" could not have a nuclear weapon.
Hormuz traffic rises from nine to 13 crossings, Kpler says Maritime traffic through the Strait of Hormuz increased on 13 August, with 13 confirmed vessel crossings, up 44 percent from nine crossings recorded the previous day, according to maritime tracking firm Kpler. Nine vessels used Iran's unilateral transit scheme, while no vessels were confirmed on the Hormuz Traffic Separation Scheme (TSS). The routes of four other vessels remained undetermined.
Washington, DC [US], August 15 (ANI): The US Central Command (CENTCOM) said on Friday (local time) that its forces had redirected 62 commercial vessels, disabled three, and boarded two others while enforcing the US blockade against Iran in the Arabian Sea. CENTCOM stated that the actions were taken to ensure compliance with the blockade.
US to hit Iran hard economically, Trump says US President Donald Trump told Fox News on Friday that the United States will hit Iran hard economically, as Washington and Tehran struggle to reach a deal to end a nearly six-month war. His comments came a day after US Treasury Secretary Scott Bessent said the US would impose measures on Tehran that have "never been seen" as soon as next week.
Russia's UN envoy says Hormuz navigation 'ruined' by US Mikhail Ulyanov, Russia's permanent representative to the United Nations, criticised US President Donald Trump's policy on the Strait of Hormuz in a post on X on Friday. "The logic of Washington is not understandable. It wants freedom of navigation through the Strait of Hormuz, but this freedom was ruined by the US aggression against Iran," he said.
New Delhi [India], August 14 (ANI): In a fresh move in the Salaya drug seizure case linked to the smuggling of 500 kg of heroin from Pakistan to India through a sea route, the National Investigation Agency (NIA) has attached two Punjab-based immovable properties linked to a key accused having transnational network extending across Italy, Australia, the United Arab Emirates (UAE), Thailand, Iran and Pakistan.
Bessent says US set to apply measures never seen on Iran US Treasury Secretary Scott Bessent said that Washington is going to apply measures that have "never been seen" on Iran. "Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," Bessent said during an interview on Newsmax's Rob Schmitt Tonight programme. "It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," he added.
TEHRAN (Tasnim) – The spokesperson for Iran’s Khatam al-Anbia Central Headquarters rejected US claims of normal maritime traffic through the Strait of Hormuz, saying no commercial vessel or oil tanker can safely transit the waterway without Iran’s authorization and supervision.
Replacing a single ship carrying essential goods to Iran would require about 2,500 trucks, a Chamber of Commerce official warned, saying land routes cannot offset the US maritime blockade and negotiations are the only realistic way to restore trade.
Maersk CEO says conditions right to increase transit through Suez Maersk, a Danish shipping company which accounts for 15 percent of maritime transport worldwide, reported a second-quarter operating profit above expectations and raised its full-year earnings guidance. CEO Vincent Clerc said he thought the "conditions for a full return to Suez during 2026 are in place", as long as "nothing happens in Yemen". Yemen's Houthis have been attacking ships transiting through Bab al-Mandab and the Red Sea since 2023, and announced a full blockade of vessels transporting Saudi oil last month.
Energy security will require diversification both in where countries source their energy and the types they consume, according to a media analyst. TEHRAN, Aug. 13 (Xinhua) -- The impasse over the Strait of Hormuz deepened as Iran said Tuesday that the key energy chokepoint will remain closed unless the United States "changes its behavior" and accepts Iran's conditions for ending the war.
Washington, DC [US], August 13 (ANI): The US Central Command (CENTCOM) said that US forces have redirected 59 commercial vessels, disabled three and boarded two others as part of efforts to enforce a blockade against Iran.
OPEC oil production continued its sharp post-war recovery in July, but Iran remained a notable exception, with output still around a quarter below pre-war levels and its oil revenues taking an even steeper hit.
Even if a cease-fire materializes, Gulf exporters recognize that relying strictly on the Strait of Hormuz is a risk they can no longer take.
Washington DC [US], August 11 (ANI): US Presidential Counsellor Peter Navarro has said that President Trump and Prime Minister Narendra Modi have a 'very good working relationship' and would resolve issues concerning the Russian-oil-related tariff issue. The remarks come amid efforts by India and the US to further their close relationship that is multi-faceted and spans across domains.
Washington, DC [US], August 12 (ANI): The US Central Command (CENTCOM) said its forces disabled a Panama-flagged cargo vessel in the Gulf of Oman after it attempted to violate the US blockade against Iran by sailing towards an Iranian port. In a post on X, CENTCOM said that the incident took place when the M/V Vela Nova attempted to transit the Gulf of Oman towards an Iranian port. <a href="https://x.
