IMO says Hormuz should remain free of tolls The International Maritime Organisation has called for the Strait of Hormuz to "remain free of any tolls and charges, in accordance with international law". "We have always been consistent on our stance on fees. IMO stands firmly against charging fees for passage through straits used for international navigation," an IMO spokesperson said.
Washington, DC [US], July 13 (ANI): US President Donald Trump on Monday (local time) said that the United States is 'reinstating' the Iranian blockade and said that the US will charge '20 per cent' to provide security to the Strait of Hormuz, a strategic gateway.
Hormuz tanker traffic falls to lowest level in two months The number of tankers transiting the Strait of Hormuz has fallen over the past 24 hours to its lowest level in two months, as renewed fighting between the US and Iran and attacks on vessels heighten safety concerns. Shipping industry sources said vessels are increasingly switching off their public AIS tracking transponders, making it difficult to determine how many ships are moving. But according to tracking analysis from Kpler, oil and gas tanker traffic fell to its lowest level since 25 May.
Brent crude climbs 5% after US president says 20% toll will be imposed on key trade route to cover ‘safety and security’ Business live – latest updates Oil prices rose 5% on Monday as Donald Trump reinstated the US blockade of Iranian shipping in the Gulf and will charge other countries to pass through the strait of Hormuz. As the US and Iran exchanged strikes amid an escalating standoff over the vital trade route, the price of Brent crude climbed to $79. 37 a barrel.
Britain said on Monday it would designate Iran's Islamic Revolutionary Guard Corps and two other groups under new state threats legislation, making it a criminal offense to support or assist them if the measure is approved by parliament later this week.
Trump says US reinstating Hormuz blockade and charging ships for passage Trump says the US is "reinstating" a blockade on Iran in the Strait of Hormuz and will charge ships for safe passage. The US will be known as "THE GUARDIAN OF THE HORMUZ STRAIT", Trump wrote on Truth Social. "As such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World.
For decades, OPEC influenced the market by how much oil it produced. But China, the largest importer, is demonstrating its remarkable power over prices.
Dubai-based port operator plans to build UAE passageway to bypass Hormuz DP World is planning to construct a new port and a container terminal on the United Arab Emirates’ east coast to bypass the Strait of Hormuz after Iran announced it would be closing the waterway again, the Financial Times has reported on Monday. The FT added that the Dubai-based port operator is in talks to develop the port in the coastal area of Fujairah and add a new terminal to expand the existing harbour in the emirate, citing people familiar with the matter.
New Delhi [India], July 13 (ANI): Crude oil is likely to trade range-bound to higher while gold is expected to trade range-bound to lower in the coming sessions amidst fresh US-Iran strikes that has put the Strait of Hormuz back in focus and as markets price in the prospects for interest-rate hikes to combat inflation, according to a research report by domestic brokerage firm Nirmal Bang.
UK effectively bans Iran's IRGC as terrorist organisation Submitted by Oscar Rickett on Mon, 07/13/2026 - 13:15 Home Office using controversial new legislation to designate Iranian force a threat to national security Islamic Revolutionary Guard Corps (IRGC) Commander-in-Chief Ahmad Vahidi attends a public farewell ceremony to pay his respects to late Supreme Leader Ayatollah Ali Khamenei, in Tehran, 5 July 2026 (Reuters) Off The UK is designating Iran 's Islamic Revolutionary Guard Corps (IRGC) a threat to national security under the controversial national security (state threats) bill enacted last week. UK Home Secretary Shabana Mahmood will use the new legislation to ban support for the IRGC, which is part of Iran's armed forces. This effectively means that the UK has proscribed - or banned - the IRGC, which it accuses of death threats and other forms of intimidation on British soil.
UK effectively bans Iran's IRGC as national security threat Submitted by Oscar Rickett on Mon, 07/13/2026 - 13:15 Home Office using controversial new legislation to designate Iranian force a threat to national security Islamic Revolutionary Guard Corps (IRGC) Commander-in-Chief Ahmad Vahidi attends a public farewell ceremony to pay his respects to late Supreme Leader Ayatollah Ali Khamenei, in Tehran, 5 July 2026 (Reuters) Off The UK is designating Iran 's Islamic Revolutionary Guard Corps (IRGC) a threat to national security under the controversial National Security (State Threats) bill enacted last week. UK Home Secretary Shabana Mahmood will use the new legislation to ban support for the IRGC, which is part of Iran's armed forces. This effectively means that the UK has proscribed - or banned - the IRGC, which it accuses of death threats and other forms of intimidation on British soil.
Shabana Mahmood will use new powers to ban support for the group, which has been linked to death threats and intimidation on British soil.
Home Office announces ban on support for Iranian military group in escalation of diplomatic tensions with Tehran The UK will list Iran’s Islamic Revolutionary Guard Corps as a terrorist organisation, ministers have announced, in a major escalation of the diplomatic tensions between London and Tehran. The Home Office said on Monday it would ban support for the IRGC, a central branch of the Iranian military, after years of political division over the issue. The move is equivalent to proscription, though not legally identical.
UK proscribes Iran’s IRGC as a terrorist organisation Britain has proscribed Iran’s Islamic Revolutionary Guard Corps (IRGC) as a terrorist organisation, according to reports from Sky News on Monday. The designation will make the IRGC the first state agency to be classified by the UK as a terrorist organisation, a move which was previously ruled out by the government who sought to retain diplomatic relations with Iran. The IRGC was also proscribed as a terrorist organisation by the United States in 2019, becoming the first official body to be designated and prompting Iran to do the same for America's military.
Israeli government funnels millions of shekels to sanctioned settlement group Submitted by MEE staff on Mon, 07/13/2026 - 10:02 The funding comes as Israel faces mounting pressure over settler violence in the occupied West Bank An Israeli settler spits through a fence at Palestinians, during an attack on a Palestinian home in the village of Al-Mughayyir, near Ramallah, in the occupied West Bank, 11 July (Reuters) Off Israel’ s Ministry of National Security, headed by far right politician Itamar Ben Gvir, is set to transfer four million shekels ($1. 31m) to a sanctioned group which supports illegal settler outposts in the occupied West Bank, Israeli media is reporting. Ahavat Gilad ("Love of Gilad") was among six firms sanctioned by France , the UK , Canada, Norway, Australia and New Zealand in June, after it was revealed that it had been involved in facilitating and financing a spike in settler violence across the West Bank.
China calls for free and safe Hormuz passage Chinese Foreign Ministry spokesperson Lin Jian said to reporters in Beijing on Monday that passage through the Strait of Hormuz should be “properly handled” and resuming free and safe navigation through the waterway serves the interests of all nations. Iran’s ambassador to Beijing previously said that ships transiting through the strait would be charged new fees, but added that China and other “friendly” countries would be granted “special considerations”.
EU says Strait of Hormuz must be reopened European Union Vice President Kaja Kallas said on Monday that EU foreign ministers will meet Gulf nations to talk about security in the region and reopening the Strait of Hormuz, noting the Iran-US interim deal is “not really holding” amid renewed strikes. Kallas said officials will discuss “what kind of message we can send that the Strait of Hormuz has to be opened, freedom of navigation has to be respected, there can be no tolls, no fees for navigation there. ” Iran has warned against “foreign” interference in the Gulf after some European countries suggested deploying naval forces to get commercial shipping flowing through the strait.
Oil prices spike as Hormuz traffic slows to multi-week low Oil prices have jumped more than 4 percent on Monday following renewed strikes between the US and Iran threatening their fragile peace agreement. "Oil's return towards pre-war levels in June reflected markets pricing in a best-case outcome for the fragile US-Iran arrangement," analyst Fabien Yip told AFP, adding that the "re-escalation exposes how fragile that assumption was". Meanwhile, the number of vessels transiting the Strait of Hormuz has fallen to its lowest in five weeks, according to shipping data, despite Trump’s insistence that the waterway is open to commercial vessels.
How Scott Bessent's 'economic statecraft' aims to justify US coercion Submitted by Marco Carnelos on Thu, 07/09/2026 - 20:02 The treasury secretary has made a candid admission: Washington intends to write one set of rules for itself, and another for the rest of the world US Treasury Secretary Scott Bessent is pictured in the Oval Office of the White House in Washington, DC, on 6 July 2026 (Mandel Ngan/AFP) On Amid the country’s 250th anniversary festivities, US Treasury Secretary Scott Bessent last month delivered an important address, aiming to present a coherent doctrine of “economic statecraft”. Stripping away references to one of the nation’s founding fathers, Alexander Hamilton, what remains is a remarkably candid admission: Washington intends to write one set of rules for itself, and another for everyone else. The speech was less a strategy than a confession; an articulation of double standards so unselfconscious that it mistakes coercion for principle.
Syria set to host first economic forum with the US Syria is set to host its first business forum alongside the US on Monday, with the event focused on Syria’s economic recovery, reform plans and investment opportunities. The forum, organised by the Ministry of Economy and Industry and the Syrian-American Business Council, marks another step towards economic restoration following Washington's decades of sanctions on the country.
