Iran's closure of the Strait of Hormuz appears to have dealt far greater damage to its own trade with China than to Beijing's commerce with the rest of the Persian Gulf, according to newly released Chinese customs data.
TEHRAN (Tasnim) – Iran's foreign minister warned that confiscating another country's assets to cover unrelated claims would set a dangerous precedent after US President Trump threatened to use frozen Iranian funds to compensate for alleged damage to ships and cargo in and around the Persian Gulf.
Tehran [Iran], July 24 (ANI): Iranian Foreign Minister Seyed Abbas Araghchi on Friday slammed US President Donald Trump's plan to use Iranian assets held by Washington to compensate for damages to ships and cargo transiting through strategic maritime waterways in West Asia, calling the move an 'incendiary precedent'.
New posts 06:45 Trump Threatens To Use Iranian Assets To Pay For Shipping Damage Amid Tensions In The Strait of Hormuz US President Donald Trump has warned that any damage to ships or cargo amid ongoing tensions in the Strait of Hormuz would be compensated using Iranian assets held under US control, prompting a swift reaction from Tehran.
Stocks in Asia were down following a sell-off in the U. S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.
Araghchi warns against using Iranian frozen assets, says it sets 'incendiary precedent' Iranian Foreign Minister Abbas Araghchi cautioned that using a foreign country's state assets to pay for future claims could stir up chaos. "Seizing another nation’s assets to pay for unrelated future claims is an incendiary precedent," Araghchi said on X. "Those who celebrate or profit from such funds should remember: once governments normalize confiscation, no one's assets are safe.
FRANKFURT, July 24 (Xinhua) -- The European Central Bank (ECB) on Thursday decided to put interest rates on hold as oil prices surged due to the escalation of the Iran conflict. The flaring up of the conflict has already sent crude oil prices soaring, raising inflation risks in the euro area.
Washington DC [US], July 24 (ANI): Amid continued hostilities between the US and Iran, President Donald Trump on Thursday said that any damages done to ships and cargo will be paid by the Iranian money in possession and control of Washington. He made the remarks in a post on Truth Social and called it a 'fair and equitable' step.
Russia’s turn to imported gasoline after Ukrainian attacks damaged its refineries is adding demand to a tight Asian fuel market, creating a potential new complication for Iran as it struggles to cover a daily shortfall of about 30 million liters.
The price of Brent crude rose more than 5% on Thursday as the war in the Middle East continues to escalate.
From Syria to UAE, the race to bypass Strait of Hormuz is on The Middle East is entering a pipeline-building boom from the Mediterranean to the Red Sea and the Gulf of Oman , as Arab oil producers rush to bypass the Strait of Hormuz, where Iran is fighting to exert its dominance over global energy flows. Tens of billions of dollars will be spent in the coming years to bypass the chokepoint where the US and Iran are battling for control, experts say. And while the Middle East has a recent history of grandiose infrastructure projects that fizzle out, this time the commitments to rewire the flow of oil are real.
From Syria to UAE, the race to bypass Strait of Hormuz is on Submitted by Sean Mathews on Wed, 07/22/2026 - 18:46 A Houthi blockade against Saudi Arabian shipping underscores how new pipelines and export routes remain vulnerable A handout picture provided by energy giant Saudi Aramco shows one of its engineers at Yanbu refinery in Saudi Arabia's Medina province, on 16 January 2011 (Joe Lynch/Saudi Aramco/AFP) Off The Middle East is entering a pipeline-building boom from the Mediterranean to the Red Sea and the Gulf of Oman , as Arab oil producers rush to bypass the Strait of Hormuz, where Iran is fighting to exert its dominance over global energy flows. Tens of billions of dollars will be spent in the coming years to bypass the chokepoint where the US and Iran are battling for control, experts say. And while the Middle East has a recent history of grandiose infrastructure projects that fizzle out, this time the commitments to rewire the flow of oil are real.
A Dubai-based logistics giant unveiled a deal with the United Arab Emirates on Wednesday to develop a new port system that would bypass the Strait of Hormuz.
Iran's Qalibaf says no one will sell oil in the region if Iran cannot Iran's top negotiator Mohammad Baqer Qalibaf said on Wednesday that no one will be able to sell oil in a region where Iran is not able to do so, adding that if Tehran's security is not ensured, no infastructure will be safe. "The equation of this war is clear: either all or none," Qalibaf said in a post on X, adding that the security of the Strait of Hormuz lies in the absence of American forces. معادلهٔ این جنگ مشخص است: یا همه یا هیچکس!
Manila [Philippines], July 22 (ANI): US Secretary of State Marco Rubio on Wednesday warned Southeast Asian leaders, cautioning that permitting illegal maritime blockades in West Asia risks establishing a precedent that could spread to vital Indo-Pacific chokepoints.
New posts Featured entry 13:19 Oil Prices Pass $100 A Barrel After Attacks In Middle East Brent crude oil rose above $100 a barrel on July 23 for the first time in two months as renewed fighting between Iran and the United States stoked fears of prolonged supply disruptions. The benchmark touched $100.
Mumbai [Maharashtra] (India), July 22 (ANI): Indian benchmark indices opened lower on Wednesday as surging crude oil prices amid escalating tensions between the US and Iran weighed on investor sentiment, while Indian pharmaceutical stocks came under pressure after US President Donald Trump announced plans to impose tariffs of up to 200 per cent on generic drug imports from 2028.
New Delhi [India], July 22 (ANI): Brent crude prices hit USD 92 per barrel on Wednesday, climbing to a five-week high amid intensifying geopolitical tensions between the US and Iran. Brent crude futures rose 50 cents, or 0. 55 per cent, to USD 91.
New Delhi [India] July 22 (ANI): As crude oil prices have started surging again amid renewed attacks linked to the Iran conflict, a sustained rise in crude prices could feed through to higher pesticide prices in the coming months, according to a report by Capital 360 ONE. Brent crude futures rose 50 cents, or 0. 55 per cent, to USD 91.
Washington DC [US], July 22 (ANI): US Secretary of War Pete Hegseth on Tuesday (US local time) said the United States has reimposed an 'effectively impenetrable' blockade against Iran and asserted that Tehran is at its weakest military point in decades, as he testified before the Senate Appropriations Committee on the Trump administration's request for a USD 1. 5 trillion defence budget.
