Satellite imagery reviewed by Iran International shows a sharp fall in visible shipping activity at Shahid Rajaee and Imam Khomeini ports since the US naval blockade was reimposed in mid-July, underscoring the growing squeeze on Iran’s imports and exports.
TEHRAN (Tasnim) – US gasoline prices are expected to reach $4. 03 per gallon on Labor Day, surpassing the previous record for the holiday weekend as the aggression on Iran continues to push up energy costs.
Proposed Hormuz passage deal not feasible for shipping industry: Report A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to US sanctions and restrictive insurance clauses on any payments, four industry sources told Reuters. Under the latest proposal, Tehran would be able to intervene if necessary with any inbound traffic, while outbound traffic would follow a route between Iran and Oman, with exit clearance granted through Oman after notifying Iran, a senior Iranian source told Reuters this week. Introducing compulsory charges through the strait for transit or service fees was "a toll in all but name", the world's leading shipping associations said in an open letter, which was sent to the UN's shipping agency.
When a refrigerator breaks in Iran now, the family often cannot replace it, and increasingly cannot afford to repair it either. Behind that is an industry losing its raw materials, its customers and, since March, two of the industrial hubs that supplied it.
US sanctions Turkish bank over alleged IRGC ties, accusing it of facilitating millions in transactions for Iran.
US, allies push IAEA board to report Iran to UN Security Council The United States, Britain, France and Germany are seeking a resolution by the UN nuclear watchdog's board next week reporting Iran to the UN Security Council for the first time in 20 years, according to diplomats and the proposed text seen by Reuters. If passed, the resolution would follow up on one adopted on June 12 of last year declaring Iran in breach of its non-proliferation obligations for not fully cooperating with an investigation into uranium traces found at undeclared sites. Israel started bombing Iran's nuclear facilities the next day, soon joined by the US Iran's uranium-enrichment plants were destroyed or badly damaged.
Gulf of Oman sees ship-to-ship transfer of 24 million barrels of crude At least 24 million barrels of crude oil were exchanged during ship-to-ship transfers in the Gulf of Oman on Friday, according to maritime tracking service, TankerTrackers In a post on X, TankerTrackers said: “We’ve now tagged 17 crude oil and gas (LNG & LPG) ship-to-ship transfers which took place yesterday (2026-09-04) in the Gulf of Oman. At least 24 million barrels were being exchanged. ” “We also identified many more oil-laden tankers waiting for a dance partner in those waters,” the post read.
US diesel prices hit record $5. 85 a gallon The price of diesel hit a new record Friday in the United States, as disruption from the US war with Iran squeezes voters. The cost is now $5.
Kpler says Hormuz traffic dropped sharply on 31 August, Bab el-Mandeb stable Traffic through the Strait of Hormuz fell sharply on August 31, with five confirmed crossings, down 50 percent from 10 a day earlier, according to maritime data firm Kpler. Four vessels entered the Middle East Gulf and one exited, using a mix of Iranian, Omani and negotiated routes. Two of the crossings involved shadow vessels, while one involved a sanctioned vessel.
Washington DC [US], September 5 (ANI): The United States, in its latest efforts of economic sanctions under Operation Economic Outcast, on Friday (local time) imposed fresh sanctions on a Trkiye-based financial institution and two of its subsidiaries, accusing them of facilitating transactions linke
The United States on Friday sanctioned Turkey’s Golden Global Bank and two subsidiaries over alleged financial dealings with Iran, escalating a campaign targeting foreign institutions accused of helping Tehran move money around sanctions.
WASHINGTON -- The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran.
Revealed: Microsoft signed $125m contract with Israel during first year of Gaza war Microsoft signed a contract worth more than $100m with the Israeli government in 2024, according to documents published on the Israeli Ministry of Finance’s Hebrew-language website, Middle East Eye can reveal. The multimillion-dollar deal appears in Israel's annual budget-execution report for 2024 , which was published by the finance ministry's accountant general in March 2025. However, details of the Microsoft agreement were obscured within a lengthy list of procurement commitments and only surfaced following close analysis of the budget report by MEE.
Price of gasoline also sets new record for Labor Day weekend ahead of crucial midterm elections in November.
US sanctions on Iran hit three Turkish entities The US has targeted three Turkey-based entitites in a new round of Iran-related sanctions issued on Friday. According to the US Treasury Department, the entities targeted are Golden Global Portfoy Yonetimi Anonim Sirketi, Golden Global Varlik Kiralama Anonim Sirketi, and Golden Global Yatirim Bankasi Anonim Sirketi. The move is the latest in the Trump administration's campaign to economically pressure Tehran six months into Washington's war on Iran, which has pushed energy prices higher worldwide.
A bank owned by the Iranian state is still open in London, operating on a temporary permission from the British Treasury that expires on October 22. Renewing it, or letting it lapse, is Britain's answer to Washington's campaign to shut Iran's banks for good.
'Secretive' UAE and Swiss-based firms reportedly major crude suppliers to Israel Two little-known oil traders, Vitol and Heritage Petroleum FZCO, have emerged as two of the top suppliers of crude to Israel during its genocide in Gaza , according to a new report by Oil Change International (OCI) and the Centre for Research on Multinational Corporations (SOMO). Together, the companies collectively exported approximately 22m barrels to Israel, representing 11 percent of the country’s total crude imports between October 2023 and June 2026, the report found. Despite a Turkish embargo against Israel, the majority of the oil shipped by the two companies flows through the Turkish port of Ceyhan.
'Secretive' UAE and Swiss-based firms found to be major crude suppliers to Israel, says report Submitted by Katherine Hearst on Thu, 09/03/2026 - 11:55 Vitol and Heritage Petroleum FZCO supplied 22m barrels of crude, much of it shipped via Turkey despite Ankara’s trade embargo, new data has revealed A crude oil tanker crosses the Bosphorus Strait in the Besiktas district of Istanbul on 6 April 2018 (Ozan Kose/AFP) Off Two little-known oil traders, Vitol and Heritage Petroleum FZCO, have emerged as two of the top suppliers of crude to Israel during its genocide in Gaza , according to a new report by Oil Change International (OCI) and the Centre for Research on Multinational Corporations (SOMO). Together, the companies collectively exported approximately 22m barrels to Israel, representing 11 percent of the country’s total crude imports between October 2023 and June 2026, the report found. Despite a Turkish embargo against Israel, the majority of the oil shipped by the two companies flows through the Turkish port of Ceyhan.
Argentina threatens oil firms with sanctions as Falkland Islands dispute intensifies Submitted by MEE staff on Fri, 09/04/2026 - 10:09 Javier Milei cited Trump's threat to change position on islands over the UK's lack of support for war on Iran Argentina's President Javier Milei delivers a speech during the Americas Society/Council of the Americas 'Political and Economic Perspectives' conference in Buenos Aires on August 20, 2026 (AFP/Juan Mabromata) Off Argentina has threatened sanctions on oil firms that seek to drill around the Falkland Islands as he continues to up the pressure over the British Overseas Territory. The country's far-right President Javier Milei said in a national address that the "winds of change" favoured Argentina's claim to the islands, which they refer to as Las Malvinas. He cited a threat by US President Donald Trump to change his country's position on the islands over the UK's lack of support for the war on Iran .
World food prices at highest since 2022, says UN World food prices rose in August to their highest since late 2022, impacted partly by the war on Iran, the United Nations' Food and Agriculture Organisation (FAO) said on Friday. Extreme heat and drought in Europe, the threat of a severe El Nino weather pattern and trade upheaval caused by the Ukraine and Iran wars have unsettled agricultural markets, pushing grain prices to three-year highs and sugar to a one-year peak, the agency said. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 133.
