UK says Iran holding world economy 'hostage' with Hormuz attacks
Yvette Cooper is chairing a virtual summit looking at ways to get energy exports moving through the shipping lane.
Filter by source ▾
-
-
Exclusive: Greek ships secretly supplying Israel with oil and military cargo
Exclusive: Greek ships secretly supplying Israel with oil and military cargo Submitted by Oscar Rickett on Thu, 04/02/2026 - 12:01 Shadow ships are turning off their signals and filing false destinations to supply Israel via Turkey A promotional picture from the website of Greek shipping company Thenamaris (Thenamaris) Off Greek shipping companies have been secretly transporting oil, coal and military cargo to Israel , Middle East Eye can reveal. According to a new report, produced by the No Harbour for Genocide campaign and seen exclusively by MEE, at least 57 covert crude oil shipments were delivered to Israeli ports between May 2024 and December 2025, while Israel was carrying out its genocide in Gaza . The approximately 47 million barrels of oil were taken to Israel via Turkey , with tracking signals disabled and false destinations listed, meaning the shipments were carried out in secret and in direct violation of Turkey’s trade embargo on Israel.
-
Goldman Paris under police watch after bomb threat linked to Iran group
The Paris offices of Goldman Sachs were placed under police surveillance after a bomb threat believed to be linked to an Iranian group, Le Parisien reported.
-
Iran pledges safe passage through the Strait of Hormuz for Philippine oil shipments
Iran pledges safe passage through the Strait of Hormuz for Philippine oil shipments The Philippines said Iran has pledged to ensure the safe passage of its oil shipments through the Strait of Hormuz, as Manila scrambles to secure energy supplies. “The Iranian Foreign Minister assured the (Foreign) Secretary that Iran will allow the safe, unhindered, and expeditious passage through the Strait of Hormuz of Philippine-flagged vessels, energy sources, and all Filipino seafarers,” the foreign affairs department said.
-
Iraq revives Syria land route to export oil to Europe
Iraq revives Syria land route to export oil to Europe Submitted by Elis Gjevori on Thu, 04/02/2026 - 09:03 Seeking for new ways to balance the books, Baghdad shifts exports overland as regional war disrupts maritime routes An oil drilling machine is pictured at an oil field in al-Hol, in the desert region of Hasakeh province on 21 January 2026 (Omar Haj Kadour/AFP) Off Iraq has restarted overland oil exports through Syria , marking a significant shift in regional energy logistics as the US-Israeli war on Iran continues to wreak havoc on traditional shipping routes through the Strait of Hormuz . Ali Nazar, director general of Iraq’s state oil marketer Somo, said on Wednesday that the company had agreed to export 50,000 barrels per day of Basra medium crude via Syria to the Mediterranean, with plans to increase volumes. The crude will reach European markets through the Syrian port of Baniyas.
-
Indian markets struggle for direction amid West Asia tensions, crude prices and weak rupee concerns: Experts
New Delhi, [India] April 2 (ANI): Indian equity markets exhibited a cautious yet positive trend after US President Donald Trump indicated that the conflict involving Iran could see a scaling down over the next two to three weeks, raising hopes of easing geopolitical tensions.
-
Indias condom industry crippled by Iran war media
Supply chain disruptions have reportedly led to shortages of silicone oil and ammonia needed to produce contraceptives India's massive condom industry is facing major disruptions due to material shortages and soaring production costs linked to the ongoing war in the Middle East, local media has reported, citing manufacturers.
-
Gulf states considering new pipeline amid Iran curb on Hormuz Strait: Report
Gulf states considering new pipeline amid Iran curb on Hormuz Strait: Report Gulf countries are revisiting costly plans for pipelines that would allow them to bypass Iran's restrictions on the Strait of Hormuz, Financial Times reports. Such initiatives would be "expensive, politically complex and take years to complete," the British daily report indicated.
-
"When this conflict is over, strait will open up naturally": Trump strikes optimistic note for future of oil as prices continue to rise
Washington DC [US], April 2 (ANI): US President Donald Trump on Wednesday (local time) expressed confidence that the Strait of Hormuz, a vital global oil shipping route off the coast of Iran, will reopen 'naturally' once the ongoing conflict concludes in the region, amid concerns over the rising global oil prices.
-
Iraq begins oil exports via Syria amid disruptions
Iraq begins oil exports via Syria amid disruptions Iraq’s oil ministry said it has started exporting crude via tankers through Syria to support the national economy. In a statement, the ministry said it is working with the Syrian government to ensure safe passage to export points. It added that shipments will be gradually increased to boost export volumes.
-
War tests Iran’s Dubai trade lifeline
The war pitting the United States and Israel against Iran is being fought across airspace and shipping lanes, but one of its most consequential economic effects may be unfolding elsewhere: the fragile commercial relationship between Tehran and the United Arab Emirates.
-
Saudi Arabia rerouted about 1 million barrels a day away from the Strait of Hormuz
Saudi Arabia rerouted about 1 million barrels a day away from the Strait of Hormuz Nearly 4 million barrels of crude oil per day passed through the Bab el-Mandeb Strait in March, up from about 3 million the previous month and the highest level since October 2023, according to Kpler. The increase came as Saudi Arabia rerouted crude via its East-West pipeline to the Red Sea port of Yanbu following the disruption of the Strait of Hormuz. The pipeline has allowed Riyadh to maintain some exports, though it cannot fully offset losses caused by the closure.
-
A third inflationary shock in less than a decade is coming: who will pay the price this time around? | Aditya Chakrabortty
Brutal past experience has taught us that a cost of living crisis doesn’t affect us all the same, because we don’t all go into it with the same income or wealth Perhaps the most celebrated writer on oil markets is Daniel Yergin. His work has won a Pulitzer and his advice sought by every president from Bill Clinton to Donald Trump. Let’s start by looking at an example.
-
War and inflation batter Iran’s workforce
Iran’s economy is entering the new fiscal year under the weight of a profound wartime shock, with inflation reaching levels not seen in decades and essential goods becoming increasingly unaffordable for much of the population.
-
How Iran's Hormuz Blockade Chokes Global Trade Beyond Oil And Gas
When an Indian tanker carrying liquefied petroleum gas (LPG) passed through the Strait of Hormuz recently, its progress was followed by excitedlive TV news coverage. Its position was received eight minutes ago. Its currently at 12.
-
Indian agriculture will not be affected by Iran war: Govt
New Delhi [India], April 1 (ANI): The Agriculture Ministry on Wednesday assured that the country's agriculture sector and farmers will not be affected due to the West Asia Conflict, as the availability of seeds and fertiliser stocks is healthy for the upcoming Kharif season. The Ministry of Agriculture said that the seed availability for the Kharif season is in surplus of 19.
-
Indian agriculture will not be affected by Iran war: Agriculture Ministry
New Delhi [India], April 1 (ANI): The Agriculture Ministry on Wednesday assured that the country's agriculture sector and farmers will not be affected due to the West Asia Conflict, as the availability of seeds and fertiliser stocks is healthy for the upcoming Kharif season. The Ministry of Agriculture said that the seed availability for the Kharif season is in surplus of 19.
-
Explainer: What does Washington's loosening oil blockade mean for Cuba?
"Cuba, in the eyes of Donald Trump and (U. S. Secretary of State) Marco Rubio, was initially underestimated," said Luis Rene Fernandez Tabio, professor at the International Economic Research Center at the University of Havana.
-
Why Reopening the Strait of Hormuz Matters for the U.S. Economy
The interconnectedness of global energy markets means that the effects of Iran’s blockade of the waterway are not limited to countries directly dependent on oil from the Middle East.
-
Hormuz chokepoint: Are record oil prices good for Africa
The strategic response for Africa lies not in reacting to individual crises but in reducing its overall dependence on them US and Israeli strikes on Iran and the blockade of the Strait of Hormuz have implications for Africa that extend far beyond politics in the Middle East. This external shock has once again demonstrated Africa's structural dependence on global commodity markets.
