Hormuz blockade drives Panama Canal fees up to $4m Shipping companies are paying up to $4 million for last-minute transit through the Panama Canal as the effective closure of the Strait of Hormuz disrupts global routes, according to Associated Press. The canal typically charges fixed rates, but auction prices for priority access have surged. With vessels rerouting to avoid the Gulf, demand for fast-track slots has spiked, allowing companies to skip multi-day delays.
EU airlines may use 'mixed fuel' amid shortages, agency says The European Union Aviation Safety Agency (EASA) is developing guidance to help airlines use US-grade Jet-A fuel as Europe faces shortages linked to disruptions in the Strait of Hormuz, a spokesperson said. EASA said most commercial aircraft engines are certified to use both fuel types, noting that European airlines already operate with mixed fuel loads on transatlantic routes. The move, which comes as Europe increases fuel imports from the United States to ease supply pressures, would allow greater flexibility for carriers that typically rely on Jet A-1 fuel.
Washington rules out oil waivers, freezes $344m in Iran-linked assets The United States has frozen $344 million in digital assets linked to Iran as part of efforts to increase economic pressure, Treasury Secretary Scott Bessent said. Bessent said the US Treasury Department had sanctioned several digital wallets, adding it would “continue to work systematically to undermine Iran’s ability to generate and transfer funds. ” Bisent also ruled out renewing the waivers Washington granted to Iranian and Russian oil, in an interview with the Associated Press.
Washington DC [US], April 25 (ANI): The United States has intensified its military and maritime pressure on Iran, with Secretary of War Pete Hegseth announcing an expanded naval blockade that officials say is growing in scale and reach. The move comes amid heightened tensions and is being framed by the administration as part of a broader strategy to compel Iran toward a nuclear agreement.
The US president has realized that he stands to lose more than he would gain by imposing sanctions on New Delhi, Deepak Bhojwani has said New Delhi "never stopped buying Russian crude" despite US sanctions on two of Russia's biggest oil firms, Deepak Bhojwani, India's former ambassador to several Latin American countries, including Colombia, Venezuela, and Cuba, told RT on Friday.
Iran’s economy is heading into a period of sharp deterioration following the March war, with mounting pressure from inflation, currency depreciation and damage to key industries raising the risk of a broader crisis.
Trump administration pitching US companies to rebuild Gulf infrastructure hit by Iran The Trump administration has told several Gulf states that they should use American companies to rebuild their infrastructure damaged by Iran's retaliatory strikes amid the US-Israeli war on the Islamic Republic, US and Arab officials familiar with the discussions told Middle East Eye. Kuwait , Bahrain and the UAE are among the countries the US has tapped as potential customers for US engineering, manufacturing and construction firms, given the extent of damage in their countries, the officials told MEE. Saudi Arabia and Oman have been less impacted by Iranian air strikes.
Trump administration pitching US companies to rebuild Gulf infrastructure hit by Iran Submitted by Sean Mathews on Fri, 04/24/2026 - 20:11 US is lobbying to ensure American companies have front row in Gulf reconstruction, with one Arab official saying the push appeared 'a little tone-deaf' Smoke rises following a strike on the Bapco Oil Refinery, amid the US-Israeli war on Iran, on Sitra Island, Bahrain, on 9 March 2026 (Reuters/Stringer) Off The Trump administration has told several Gulf states that they should use American companies to rebuild their infrastructure damaged by Iran's retaliatory strikes amid the US-Israeli war on the Islamic Republic, US and Arab officials familiar with the discussions told Middle East Eye. Kuwait , Bahrain and the UAE are among the countries the US has tapped as potential customers for US engineering, manufacturing and construction firms, given the extent of damage in their countries, the officials told MEE. Saudi Arabia and Oman have been less impacted by Iranian air strikes.
US sanctions Chinese refinery over Iranian oil purchases The Trump administration has imposed fresh sanctions on a Chinese refinery accused of buying large volumes of Iranian oil, as Washington and Tehran prepare for another round of talks. The US Treasury said it targeted Hengli Petrochemical (Dalian), describing it as a major buyer of Iranian crude and petroleum products. Officials also sanctioned around 40 shipping companies and vessels linked to what they described as Iran’s “shadow fleet”, used to move oil despite restrictions.
Iran calls US seizure of ship ‘flagrant breach of international law’ Iran’s mission to the United Nations has condemned the US's interception of a commercial vessel, describing it as a serious violation of international law. The ship, identified as Touska, was seized as part of Washington’s naval blockade on Iranian ports. US President Donald Trump said the vessel was stopped after failing to respond to warnings, while Secretary of War Pete Hegseth also referenced the operation.
Saudi Arabia cuts $200m in Met Opera House funding due to Iran war: Report Submitted by MEE staff on Fri, 04/24/2026 - 18:15 General manager of NYC's famed opera venue said Saudi Arabia pulled funding because of economic impact war was having on kingdom Saudi Arabian Finance Minister Mohammed al-Jadaan departs a press briefing at the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on 17 April 2026 (Kent Nishimura/AFP) Off Saudi Arabia has pulled out of a $200m deal to support New York City’s Metropolitan Opera House due to economic hits it has suffered from the US-Israeli war on Iran , The New York Times reported on Friday. While $200m is a relatively small sum compared to Saudi Arabia’s vast $1 trillion sovereign wealth fund, the decision is notable as the first sign that the war on Iran is denting Gulf financial commitments in the West. Peter Gelb, the Met Opera's general manager, told the NYT that the kingdom said its decision was based on damage to the country’s economy caused by the Iran war and the blockade of oil passing through the Strait of Hormuz.
EU: War on Iran has negatively impacted European economy The US-Israel war on Iran has impacted the European Union’s economy by 0. 2 to 0. 6 percent, according to EU Commissioner for Economy and Productivity, Valdis Dombrovskis, Al Jazeera reported.
Two men accused of carrying out surveillance on Jewish and Israeli-linked sites in London on behalf of Iran are due to appear at the Central Criminal Court on Friday for a preliminary hearing.
Iran grants fee exemption on Hormuz passage for 'friendly' countries Iran has granted fee exemption to "friendly" states passing through the Strait of Hormuz, Russian state news agency RIA Novosti reported. "We have provided exceptions for some countries. I don’t know what will happen in the future," Iranian Ambassador to Moscow, Kazem Jalali, told the news outlet.
Tehran [Iran], April 24 (ANI): The Indian Embassy in Iran has issued a fresh advisory urging Indian citizens to avoid travelling to the country amid ongoing regional tensions and operational uncertainties affecting flight services. In a post on X, the Embassy stated that Indians should refrain from travelling to Iran by any mode and advised those already in the country to leave in coordination with the mission.
New Delhi [India], April 24 (ANI): The Indian stock market opened lower on Friday, dragged down by a sharp rise in crude oil prices and escalating U. S. -Iran tensions that have heightened geopolitical uncertainty.
Iranian cargo ship reaches port safely despite US efforts to seize it An Iranian cargo ship reached port safely after the US reportedly attempted to seize it in the Oman Sea, according to Iranian media reports. The semi-official Fars News Agency said that the vessel, which was carrying rice, was escorted by naval units of Iran’s Islamic Revolutionary Guard Corps (IRGC).
Washington DC [US], April 24 (ANI): US President Donald Trump on Thursday (local time) said that the United States has full control over its blockade measures against Iran, calling them effective. He also said that Iran's reported actions in the region, including targeting multiple countries, could be a serious mistake. Speaking to the reporters in White House, Trump said, 'That is very top secret...
After nearly two months of closure, Tehran’s stock market is preparing a phased reopening, but deep structural flaws, lack of transparency and uncertainty over US negotiations threaten to turn the restart into a fresh crisis.
