News #Iran

Iran said it will step up efforts to tackle problems created by the US sanctions that are crippling its economy, while a senior Iranian official warned of a “painful response” if it comes under further attack.

Iran set preconditions on Saturday for a reopening of the Strait of Hormuz, including compensation for war damages, complicating a potential deal to open the waterway essential to the world economy.

President Donald Trump said on Monday the United States was reinstating its blockade of Iranian shipping in the Gulf and would ensure the Strait of Hormuz stays open

The United States has revoked a sanctions waiver that authorized the sale of Iranian oil because of its repeated attacks on tankers in the Strait of Hormuz

OPEC+ has agreed to a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling

Iran’s top diplomat warned Sunday that any attempt to bypass the Strait of Hormuz routes agreed with the United States would “increase tensions” in the Middle East

Oman and Iran reaffirmed their commitment to the strait being a secure and open route for international navigation and to promoting maritime safety,

The United States said Monday it is temporarily lifting sanctions on Iran to allow the country to produce, sell and deliver crude oil and related products

At least 20 oil tankers have crossed the Strait of Hormuz since the U.S. and Iran began to reopen the sea lane to commercial ship traffic, according to the trade intelligence firm Kpler.

With the signing of the peace agreement and the reopening of key energy supply routes, analysts expect global energy markets to stabilize

The United States on Wednesday released the official text of the memorandum of understanding reached over the weekend with Iran.

The Strait of Hormuz will be “completely open” from Friday after a deal between Iran and the US to end the Middle East war that limited shipping in the critical bottleneck