Iran, which said its proposals presented to Washington included sanctions relief, the release of frozen funds, warned it would “open new fronts” against the United States if attacks resumed.
Seizure of vessel anchored near UAE coast close to Hormuz raises Gulf tensions
The incident came hours after India condemned an attack on an Indian-flagged vessel off Oman’s coast, calling continued assaults on commercial shipping “unacceptable”.Donald Trump says US-Iran ceasefire deal on ‘life support’
Shipping disruptions, sanctions and worsening humanitarian fears deepen global anxiety as Washington rejects Tehran’s latest peace proposal over nuclear concessions.
Strait of Hormuz disruption threatens trade flows: UNCTAD
UNCTAD data shows Brent crude oil prices rose above $90 per barrel, while natural gas prices also increased sharply after the disruption. Between Feb 27 and Mar 9, oil prices rose 27% to $91.8 per barrel, while gas prices climbed 74 percent.
