US to block ships entering/exiting Iranian ports in Persian Gulf & Gulf of Oman, but vessels transiting Hormuz to & from non-Iranian ports won't be obstructed. IRGC warns of ‘harsh’ response.
Energy blockades are acts of war. If in doubt, recall Pearl Harbor, which took place roughly six months after the US imposed a total oil embargo on Japan. They also take time to work.
The lightweight metal rose as much as 2% on the London Metal Exchange, reigniting a rally driven by supply shortages stemming from the war in the Middle East.
Prolonged disruptions to Strait of Hormuz could lift Asian spot prices above $19 per million British thermal units, traders said, though that would be lower than a wartime high of $25.
Apart from country-wide disruption to roads, the demonstrations almost resulted in a scarcity of fuel as protesters blocked Ireland’s only oil refinery.
US military to block all maritime traffic to/from Iranian ports from 10 am ET Monday, while allowing vessels not bound for Iran to transit the Strait of Hormuz.
Coyle will take over from Gen Simon Stuart following his retirement. Australian navy chief Mark Hammond, a submariner, will now head nation’s Defence Force.
The people of Hungary had grown weary of Orbán—Trump’s 'fantastic man', Putin’s 'ally' & Far Right’s 'lodestar'. Magyar won a mandate based on promises to steer clear of corruption.
MSMEs are not a marginal segment of the economy. They contribute nearly 30% of the GDP and account for about 45% of India’s exports. The fragility is significant.
We now live in a world order that will keep shifting. India must use this window. This also means we remain disciplined enough not to be knee-jerked into reacting to what Pakistan sees as its moment in the sun.
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