THE LATEST | CANADABloomberg: President Donald Trump issued fresh threats to Iranian infrastructure in an effort to pressure Tehran in negotiations, posting to social media that “The biggest bridge in Iran comes tumbling down, never to be used again — Much more to follow!”
Iranian Foreign Minister Abbas Araghchi said striking civilian structures “will not compel Iranians to surrender” and Iran’s semi-official Fars news agency reported that airstrikes had hit numerous targets, including a bridge connecting Tehran to the city of Karaj…
Strikes Hit Infrastructure Sites in Iran After Trump’s Threat
President Trump celebrated an attack on a major highway bridge outside of Tehran after vowing to take Iran “back to the Stone Ages.” And a leading public health institution in the country was destroyed…
The global wave of energy rationing
In recent weeks, however, the war against Iran and resulting high global energy prices have forced the Philippines into fuel-saving measures such as working from home. The country’s president Ferdinand Marcos Jr has declared a national energy emergency.
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The strains in the Philippines are mirrored in emerging and middle-income economies across Asia and beyond, as spiralling fuel prices and looming shortages force governments into drastic measures to conserve supplies. The result, warn economists, will be curbed growth and strained public finances…
Wartime fuel shortages spawn panic, robberies and killings in Asia
In Bangladesh, illegal syndicates are stealing fuel in the middle of the night and raiding transport vehicles to stockpile supplies, according to a trade association for gas station owners. Gas pump workers in Bangladesh as well as in neighboring India and nearby Pakistan have been killed in fuel thefts or rage-driven assaults over the lack of supplies, authorities said. And in the Philippines last week, thousands of transportation workers went on strike to protest soaring diesel prices…
US Allies Work On Plan B For Hormuz Strait If Trump Walks Away
More than 40 US allies met to discuss plans to reopen the Strait of Hormuz, in a signal to President Donald Trump of the deep concern across the international community about the crisis.
The international community was clear the US needed to include a solution for Hormuz in ceasefire talks with Iran, and the virtual meeting showed the coalition of countries deem it necessary to begin preparations for having to reopen the strait without the US…
Macron dismisses Trump’s call for western nations to reopen Hormuz by force
Emmanuel Macron on Thursday dismissed Donald Trump’s suggestion that western countries should use force to reopen the Strait of Hormuz as “unrealistic”, as the UK hosted talks with 41 nations about how to increase diplomatic pressure on Iran to reopen the strategic waterway.
The French president said restoring shipping in the strait was only possible “in co-ordination with Iran” following a ceasefire in hostilities with the US and Israel…
As Trump doubles down on Iran war, markets shudder and oil prices climb
With no immediate resolution to a dispute that’s locked up oil and gas, the war with Iran is increasing economic pain and straining the U.S. relationship with its allies…
Oil cargo prices surge as fears of supply shortage grip market
The price of crude cargoes for immediate delivery has soared to its highest level since 2008, as traders react to a possible escalation of the Iran war and concerns about shortages of oil…
Three Ships Appear to Enter Hormuz by New Route Along Oman Coast
Three tankers broadcasting Omani ownership appeared to enter the Strait of Hormuz by hugging their home country’s coastline, indicating a different route to a northerly path through Iranian waters…
From Lockheed to European start-ups, arms makers jostle for Iran war orders
Middle East conflict holds out promise to bring another windfall for defence groups as governments restock arsenals…
Control Over Strait of Hormuz Will Determine Who Wins the War
Tehran’s ability to control this international waterway, through which one-fifth of the worldwide oil supply used to pass, has become Iran’s biggest leverage against the U.S., its Gulf neighbors and the global economy. Whether the war ends in a success or defeat for Iran depends first and foremost on whether Tehran emerges from this conflict still holding the strait—and, with it, the keys to the worldwide energy markets…
A Bid to Use Force to Open Strait of Hormuz Hits Roadblocks at U.N. Security Council
Russia, China and France on Thursday effectively stymied a push by Arab countries to get the United Nations Security Council to authorize military action against Iran to reopen the Strait of Hormuz, saying they opposed any language authorizing force, according to a diplomat and a senior U.N. official…
Iran Beefs Up Defenses, Recruits Children as It Prepares for Ground War
Iran is responding to the threat of a ground operation on its soil by stepping up defenses around its biggest oil port, while threatening to attack a wider array of targets around the Gulf and launching a mass recruitment drive reminiscent of its 1980s war with Iraq…
World’s top energy traders wrongfooted in early days of Iran war
The world’s biggest energy traders struggled to capitalise on the market turbulence in the early days of the Iran war, as they grappled with fuel tankers set ablaze, missile attacks at oil terminals and vessels stuck in the Gulf…
Rival Nations Seize On Choke Points to Counter Trump
From Iran to China, President Trump’s global aggression has encouraged other countries to search for new ways to pressure the U.S. economy…
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