TEHRAN (Tasnim) – Iran’s Persian Gulf Strait Affairs Authority (PGSA) warned vessels against navigating outside designated transit routes, saying such movements would not be covered by safe-passage guarantees, insurance protections, or related liabilities.
Video: Trump says released Iranian assets to be spent on US crops US President Donald Trump told farmers on Thursday that unfrozen Iranian assets will be used to purchase American agricultural products, including wheat, soybeans and corn. "We're going to be taking some of their money, and we'll spend it. " US President Donald Trump told farmers on Thursday that unfrozen Iranian assets will be used to purchase American agricultural products, including wheat, soybeans and corn pic.
Tehran's top negotiator has accused Washington of exporting "trash talks" Iran's chief negotiator, Mohammad Bagher Ghalibaf, has denied that the country's unfrozen assets would be used to buy agricultural products from the US.
Eight more South Korean ships exit Hormuz, ministry says Eight additional South Korean vessels have departed the Strait of Hormuz as security concerns persist in the strategic waterway, Reuters, citing South Korea's oceans ministry, reported. The latest departures come after Iran's Persian Gulf Strait Authority warned ships against using unauthorised routes through the strait and the UN's International Maritime Organisation suspended its escort programme following a suspected attack on a cargo vessel near Oman. The incident pushed global oil prices about 2 percent higher, renewing concerns over the security of one of the world's busiest energy shipping lanes.
Washington DC [US], June 26 (ANI): US President Donald Trump on Thursday (local time) claimed that the US will take money from Iran as it is having a hard time with food. Trump, while addressing Rose Garden Club Dinner with American Farmers, said that Iran will be a new market for the US. 'We have another one a new market coming up and that's called the lovely country of Iran.
Trump says released Iran funds to be spent on US crops US President Donald Trump said unfrozen Iranian assets will be used to purchase American agricultural products, including wheat, soybeans and corn, under the framework of the recent agreement with Tehran. "We're going to be taking some of their money," Trump said during an event with US farmers. "And we'll spend it, and we're going to be buying wheat, soy beans and corn – a lot of it.
Iran warns ships against using unauthorised Hormuz routes Iran's Persian Gulf Strait Authority (PGSA) has warned ships against navigating the strategic waterway through routes that are not officially designated or covered by safe-passage guarantees. PGSA said vessels using unauthorised routes would do so at the risk of their owners and investors, warning that responsibility for any consequences would rest with them. The warning came after a cargo ship reported being struck by an unidentified projectile near Oman while attempting to transit the Strait of Hormuz, prompting renewed security concerns.
Oil prices rise after vessel targeted near Strait of Hormuz Oil prices rose about 2 percent on 26 June after a cargo ship was struck by an unidentified projectile near Oman, renewing concerns about the security of shipping through the Strait of Hormuz and the pace of recovery in regional oil exports. Brent crude settled up $1. 52, or 2.
US official says frozen Iranian funds have not been released A US official has told The Associated Press that no frozen funds have been released to Iran and that none will be released until Tehran meets the requirements of Trump's interim agreement with Iran. The official spoke on condition of anonymity because they were not authorised to speak on the record. Treasury Secretary Scott Bessent told CNBC's Squawk Box this week that the Treasury Department would oversee how any unfrozen funds are spent.
IMF says prices have eased since US-Iran agreement but Gulf trade remains disrupted The International Monetary Fund says energy and commodity prices have fallen since the United States and Iran agreed to halt hostilities and reopen the Strait of Hormuz, but warned that Gulf trade flows will take time to return to normal. IMF spokesperson Julie Kozack said the fund would decide in its 8 July World Economic Outlook update whether to maintain the three growth scenarios it issued in April, which were based on possible outcomes of the US-Israeli war on Iran. In May, as the Strait of Hormuz remained closed and oil prices stayed above $100 a barrel, Kozack said the global economy was moving away from the more stable "reference forecast" towards an "adverse scenario" of 2.
Shipping giant says stranded vessels have left Gulf after Hormuz closure Shipping giant Hapag-Lloyd says all of its vessels that were stranded in the Gulf after the temporary closure of the Strait of Hormuz have now left the region. A company spokesperson said the decision followed a security assessment and consultations with the relevant authorities. "All Hapag-Lloyd vessels that were affected by the temporary closure of the Strait of Hormuz and had been waiting in the Persian Gulf to leave have now safely left the Gulf region," the spokesperson said.
Blocking of proposal backed by Oman signals new threat to free passage through strait vital to world economy Iran has rejected UN-backed plans for the mass evacuation of ships through the strait of Hormuz , creating a new threat to the free passage of commercial ships through the strait. The proposal, backed by Oman, was potentially the first phase of a broader Omani proposal to consult on setting up a new management of the strait based on voluntary fees and modelled on the Malacca and Singapore strait mechanism. Continue reading...
Gulf stock markets fall as oil prices return to pre-war levels Most stock markets in the Gulf closed lower on Thursday, as oil prices fell back towards levels last seen before the start of the US-Israeli war on Iran. The decline came after a preliminary agreement between the United States and Iran paved the way for the reopening of the Strait of Hormuz. Oil prices, a key driver for Gulf financial markets, extended losses as expectations of increased Middle East supply outweighed concerns over demand, according to the Reuters news agency.
Ghalibaf rejects US claim that Iran's unfrozen assets will be spent on US goods Iran's top negotiator Mohammad Bagher Ghalibaf has said that US claims that Iran will spend its unfrozen assets to buy US agricultural products were false. Treasury Secretary Scott Bessent echoed President Donald Trump on Wednesday and insisted that a large percentage of Iran's unfrozen assets would be used to buy US foods and medicine, even as Iran said it would determine its spending. "America falsely claims our unfrozen assets will buy their agriculture.
Iran’s negotiators have opened a renewable 60-day clock. Its factories may not have that long. The Chamber of Commerce’s own PMI survey shows warehouses emptying, orders drying up and production lines at risk of stoppage within months.
Iraq urges Opec to raise its quota Iraq has urged Opec to increase its oil production quota considering the country's history of conflicts and the recent war that have damaged its industry, the oil ministry said Thursday. Like other oil producers, Iraq, a founding member of Opec, was greatly affected by the US-Israeli war on Iran, as it is hugely dependent on oil exports, which make up about 90 percent of its budget revenues. Iraq's oil ministry said that the country "has consistently emphasised the importance of reassessing production baselines to ensure they are aligned with the sustainable production capacities of member countries," and in respect of "Iraq's unique security and economic circumstances".
Tehran insists it can levy fees on shipping while Washington claims no country may charge for passage through an international waterway The US and Iran have clashed over Tehran's move to levy a toll on ships transiting the Strait of Hormuz. Washington has insisted that Tehran cannot impose transit fees, while Iran argues it can levy charges for services provided.
Iranian entities moved more than $3. 84 billion in cryptocurrency through the Seychelles-based exchange CoinEx over the past six years, helping connect Iran's crypto ecosystem to global markets despite US sanctions, The Wall Street Journal reported on Wednesday.
Iran, India discuss expanding energy ties after years of reduced trade Iran and India discussed strengthening energy cooperation and trade during a meeting between their oil ministers on the sidelines of a Brics energy ministers’ gathering in India, the Iranian oil ministry's news outlet Shana reported on Thursday. Last week, Iran and the United States signed an interim deal, after which Washington issued a temporary license for the export of Iranian energy products. India has historically been an important buyer of Iranian crude, but suspended imports in 2019 following the re-imposition of US sanctions on the export of Iranian oil.
UN data shows 57 ships sailed through Hormuz since 23 June Some 57 ships carrying an estimated 1,100 seafarers have transited the Strait of Hormuz since June 23 under a United Nations evacuation plan launched this week, data from the UN's shipping agency showed on Thursday. These are the first numbers to be released by the UN's International Maritime Organization (IMO) for the initiative, which will enable hundreds of ships with some 11,000 seafarers to leave the strait. According to current IMO data, 12 ships sailed through during the morning of 25 June, 32 during 24 June and 13 during 23 June.
