Iran’s rial hits new low as dollar nears 1.92 million
The US dollar reached a record 1,918,000 rials on Iran’s open market Friday, surpassing its previous high as war, inflation and worsening economic prospects continued to weaken the currency.
Filter by source ▾
-
-
Only three commodity vessels crossed Strait of Hormuz on Thursday
Only three commodity vessels crossed Strait of Hormuz on Thursday Only three commodity vessels crossed the Strait of Hormuz on Thurday, a record low since May, Reuters reported. According to Reuters, most ships were redirected or stopped due to the US' resumed blockade on the Strait. The reported added that global energy prices have risen due to the lack of traffic passing through the Strait.
-
UK outlaws support for IRGC under new national security powers
Britain formally designated Iran’s Islamic Revolutionary Guard Corps as a threat to national security on Friday, making public support for the organization or assistance to it punishable by up to 14 years in prison.
-
Australia declines timeline for delayed Iranian skilled visa cases
Australia declined to provide a timeline for resolving delayed skilled visa applications from Iranian nationals and did not directly answer whether Iranian applicants face additional security or identity checks compared with other nationalities.
-
"Avoid deploying Indian seafarers" through Hormuz, advises DGMA; says their safety remains "central" amid Gulf attacks
New Delhi [India], July 17 (ANI): Amid continuing attacks on merchant vessels and the heightened security situation in the Gulf, India's Directorate General of Maritime Administration (DGMA) has advised ship owners, ship managers and Recruitment and Placement Service Licence (RPSL) companies to avoi
-
Head of International Energy Agency says oil security remains a 'critical issue'
Head of International Energy Agency says oil security remains a 'critical issue' The head of the International Energy Agency, Fatih Birol, said on Thursday that if the US and Iran do not unite to improve flows of oil through the vital Strait of Hormuz, the world should soon be concerned about energy security. "Oil security is still a critical issue," Birol told a Council on Foreign Relations event. "We should be worried, and I am worried if the situation does not improve in the next few weeks.
-
Hormuz open for ships not travelling to or from Iranian ports, US Navy ensuring transit: White House
Washington DC [US], July 17 (ANI): The White House on Thursday (local time) said the Strait of Hormuz remains open for commercial vessels that are not travelling to or from Iranian ports as part of the US blockade on Tehran, adding that the US Navy is deployed to ensure the continued flow of maritime traffic through the strategic waterway.
-
Strait of Hormuz Tanker Traffic Erodes Further as Oil Prices Rise
Very few ships passed through the waterway on the first full day of the U. S. naval blockade of Iran.
-
US gas prices edge up again as US-Iran tensions heighten over strait of Hormuz
Diesel tops $5 a gallon as regular gas reaches almost $4, nearly a dollar and a quarter more than a year ago Middle East crisis live – latest updates The average price of diesel fuel in the US has increased again to more than $5 a gallon, according to the AAA , and the average price of gas is almost $4, returning to their highs before the June memorandum of understanding between the US and Iran . It’s a reminder to consumers and truckers of the costs of the Iran war and the unpredictable rhetoric from both Washington and Tehran. A year ago today, the AAA says, the average price for a gallon of diesel was $3.
-
EU fails to agree on Russia sanctions after days of talks media
The blocs envoys have reportedly decided to freeze the oil price cap for a week until they convene again The EU ambassadors have failed to reach a consensus on the 21st round of sanctions against Russia following three days of talks, multiple news outlets, including Reuters, Euractiv and Politico, reported on Wednesday.
-
US sanctions 7 individuals, entities for supporting IRGC; reiterates stance for Tehran's denuclearisation
Washington DC [US], July 15 (ANI): The United States on Wednesday announced a fresh slew of sanctions against Iran after accusing Tehran of attacking commercial vessels in the Strait of Hormuz.
-
Wave of Iran plots drove UK action against IRGC, terror law tsar says
Britain's decision to create a new legal framework targeting Iran's Revolutionary Guards was driven less by political pressure than by the scale of alleged Iranian activity on British soil, according to Jonathan Hall, the UK government's independent reviewer of terrorism laws.
-
'Textbook infringement': Palestine advocacy groups sue for immediate halt to Trump's ICC sanctions
'Textbook infringement': Palestine advocacy groups sue for immediate halt to Trump's ICC sanctions Submitted by MEE staff on Wed, 07/15/2026 - 18:41 The executive order not only sanctioned the court's judges but also threatened anyone liaising with it US Secretary of State Marco Rubio stands behind President Donald Trump as he speaks to the media at the end of his participation in the Nato leaders summit in Ankara, Turkey, on 8 July 2026 (Yves Herman/Reuters) Off Advocates for Palestinian rights in the US filed a lawsuit in a New York City federal court on Wednesday, seeking an injunction to stop the Trump administration's enforcement of sanctions against groups or individuals liaising with the International Criminal Court (ICC). Democracy for the Arab World Now (Dawn), founded by the late Middle East Eye columnist Jamal Khashoggi, as well as the Taxpayer Alliance Against Genocide (Taag), said they felt compelled to immediately go to court after US Secretary of State Marco Rubio wrote in an opinion piece earlier this week that the US is willing to dismantle the ICC "brick by brick". In the early weeks of his presidency, President Donald Trump signed Executive Order 14203 , granting US officials the power to impose sanctions on foreigners for supporting the ICC's investigations into US and Israeli nationals for war crimes, crimes against humanity, and genocide.
-
China's oil imports plunge 40 percent, keeping a lid on energy prices
China's oil imports plunge 40 percent, keeping a lid on energy prices Submitted by MEE staff on Wed, 07/15/2026 - 17:30 China's oil imports plunged to a near decade low in June A general view of the crude oil refinery, Sinopec Jinling Petrochemical Plant, in Nanjing, China, in the eastern Jiangsu province, on 8 May 2026 (Hector Retamal/AFP) Off China’s crude oil imports in June hit their lowest level in a decade, marking a major plunge that has helped keep energy prices contained amid escalating fighting between the US and Iran in the Strait of Hormuz. Chinese customs data released on Tuesday said crude imports hit 29. 27 million tonnes year to year, marking a 41 percent drop.
-
UK politicians call for sanctions on Israel as Starmer's Gaza legacy slammed
UK politicians call for sanctions on Israel as Starmer's Gaza legacy slammed Over 80 British MPs and lords have called on their government to impose comprehensive sanctions on Israel , as a collection of charities slammed outgoing prime minister Keir Starmer's legacy on Palestine . In a letter to the UK ’s foreign secretary, Yvette Cooper, the politicians urge the government to act “in line with the International Court of Justice’s advisory opinion on Israel”. This Sunday, 19 July, will mark two years since the ICJ found that Israel’s decades-long occupation of the Palestinian territories was “unlawful”, and that its “near-complete separation” of people in the occupied West Bank breached international laws concerning “racial segregation” and “apartheid”.
-
UK politicians call for sanctions on Israel as Starmer's Gaza legacy slammed
UK politicians call for sanctions on Israel as Starmer's Gaza legacy slammed Submitted by Oscar Rickett on Wed, 07/15/2026 - 14:03 Over 80 MPs and lords write to Foreign Secretary Yvette Cooper, as incoming prime minister Andy Burnham urged to take tougher stance on Israel Britain's Prime Minister Keir Starmer attends the Nato summit in Ankara, Turkey, Wednesday, 8 July 2026 (Alastair Grant/Pool via Reuters) Off Over 80 British MPs and lords have called on their government to impose comprehensive sanctions on Israel , as a collection of charities slammed outgoing prime minister Keir Starmer's legacy on Palestine . In a letter to the UK ’s foreign secretary, Yvette Cooper, the politicians urge the government to act “in line with the International Court of Justice’s advisory opinion on Israel”. This Sunday, 19 July, will mark two years since the ICJ found that Israel’s decades-long occupation of the Palestinian territories was “unlawful”, and that its “near-complete separation” of people in the occupied West Bank breached international laws concerning “racial segregation” and “apartheid”.
-
Oil Prices Tick Higher as U.S. Reinstates Iran Blockade
The United States reinstated its blockade on Iranian ports in the Strait of Hormuz and shipping slowed to a crawl amid the renewed warfare in the critical waterway.
-
Indian markets open cautiously in green amid oil price rise, escalation of supply disruptions risk from Iran
New Delhi [India], July 15 (ANI): Despite Brent crude trading at over $85 per barrel, Indian markets breathed in green on Wednesday morning as equity indices opened with marginal gains, tracking mixed global indicators and escalating tensions in West Asia. The BSE SENSEX stood at 77,204. 25 points, marking an increase of 149.
-
US tightens economic pressure on Iran, sanctions over 50 targets over oil exports
Washington, DC [US], July 15 (ANI): In a significant expansion of Washington's intensified economic offensive against Tehran, the United States has penalised over 50 individuals, enterprises, and maritime vessels suspected of involvement in an unlawful Iranian oil transportation and sanctions-circumvention ring.
-
Watch: Trump says he will drop Hormuz fee for trade with Gulf states
Watch: Trump says he will drop Hormuz fee for trade with Gulf states US President Donald Trump announced on Tuesday that the US will make trade and investment deals with the Gulf states instead of the 20 percent levy he previously proposed for ships to pass through the Strait of Hormuz. “The Gulf states are going to invest a tremendous amount of money into the United States. ” Donald Trump said that the US will make investment deals with the Gulf states instead of the 20 percent levy he previously proposed for ships to pass through the Strait of Hormuz pic.
