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World Wide May 26, 2026

US Launches New Strikes Near Strait of Hormuz Amid Fragile Ceasefire

On May 26, 2026 the United States carried out self‑defence strikes near the Strait of Hormuz, targe…
Executive Summary: Renewed US Military Action Threatens CeasefireUnited States forces launched a series of “self‑defence” strikes near the Strait of Hormuz on May 26, 2026, while an Iranian delegation travelled to Qatar for peace talks. The attacks, described by CENTCOM as targeting missile launch sites and mine‑laying boats, raise doubts about the durability of the Pakistan‑mediated ceasefire that began on April 8.US Self‑Defence Strikes Target Missile Sites and Mine‑Laying VesselsCENTCOM spokesperson Tim Hawkins told Al Jazeera that the strikes hit “missile launch sites and Iranian boats attempting to emplace mines.” Secretary of State Marco Rubio, speaking from Jaipur, India, echoed the description, emphasizing the need to keep the Strait open.Iranian media reported explosions in Bandar Abbas, about 70 km from the Strait, but Tehran has not issued an official statement.Strategic Stakes: One‑Fifth of Global Oil Flow at RiskThe Strait of Hormuz carries roughly 20 % of worldwide oil and gas shipments under normal conditions.Disruptions could exacerbate the energy crisis that has already pushed oil prices higher since the war began.Diplomatic Ripple Effects: Talks in Qatar Face New UncertaintyIran’s delegation, reportedly including Foreign Minister Abbas Araghchi, Parliament Speaker Mohammad Bagher Ghalibaf, and Central Bank Governor Abdolnaser Hemmati, arrived in Doha to discuss remaining roadblocks.U.S. President Donald Trump posted that negotiations are proceeding “nicely” but warned that any failure could trigger further attacks. He also linked a potential settlement to broader regional moves such as the Abraham Accords.Outlook: Negotiations May Stall Unless De‑Escalation OccursAnalysts quoted by Al Jazeera note that the latest skirmish could derail the fragile ceasefire and delay a comprehensive peace agreement. With limited information on the scale of the US operation, the next few days will be critical for determining whether diplomatic momentum can survive renewed hostilities.
#United States #Iran #Strait of Hormuz
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Politics May 26, 2026

Anticipation in Iran as US Talks Persist Amid New Attacks

Iran and the United States are still negotiating through intermediaries despite a fresh exchange of…
Negotiations Continue Amid Fresh SkirmishesTehran, Iran – Talks between Iran and the United States are ongoing via intermediaries, but no agreement is in sight after a recent exchange of fire heightened distrust.Escalation on the Ground: Recent Missile Strikes and CounterfireThe U.S. military reported striking missile launch sites and Iranian vessels laying mines in southern waters, while Iranian state media said its forces returned fire, resulting in several casualties. The fragile cease‑fire that began on April 8 remains technically intact, but the risk of further clashes persists.Economic Signals: Rial Gains and Stock Market RallyDespite the security tension, Tehran’s markets show signs of optimism. The Iranian rial appreciated more than 5 % this week, trading around 1.73 million per U.S. dollar, close to last month’s all‑time low. The main index of the Tehran Stock Exchange rebounded above 4 million points after a controlled reopening a week earlier, though it fell short of the 4.5 million‑point peak recorded at the start of the year.Broader Economic Strain: Blockade, Inflation, and Internet ShutdownIran’s economy remains under severe pressure from internal mismanagement and external factors, notably the U.S. naval blockade of southern ports and the loss of the United Arab Emirates as a key import source. Inflation continues to erode purchasing power, while a near‑total internet shutdown has crippled jobs and digital commerce. The government is focusing on securing essential food and medicine, but prices for consumer goods, especially electronics previously imported from the UAE, are soaring.What Lies Ahead: Prospects for a Deal and Regional StabilityHard‑line factions in Iran demand full sanction removal and sovereignty over the Strait of Hormuz before any concession, while some citizens hope a memorandum of understanding could ease economic pressure. Analysts note that any temporary agreement may provide short‑term relief but is unlikely to end the broader geopolitical strain, especially with the upcoming World Cup and ongoing regional tensions.
#Iran #United States #Tehran Stock Exchange
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Sports May 23, 2026

Kyle Busch died after severe pneumonia progressed into sepsis, family says

NASCAR driver Kyle Busch died at age 41 after severe pneumonia progressed into sepsis, causing rapi…
The Tragic Passing of a Racing LegendNASCAR driver Kyle Busch died at 41 years old after severe pneumonia progressed into sepsis, resulting in rapid and overwhelming medical complications, according to a statement released by his family. The news has sent shockwaves through the racing community and beyond.Medical Details of the Fatal ConditionAccording to the family's statement, received on Saturday, Busch's condition deteriorated after what began as a sinus cold while racing at Watkins Glen on May 10. Sepsis is considered a life-threatening medical emergency that occurs when the body has an extreme, overactive response to an infection, causing the immune system to damage its own tissues and organs.Typically, the immune system releases chemicals to fight off pathogens like bacteria, viruses, or fungi, but with sepsis, the response goes into overdrive. The results can cause widespread inflammation, form microscopic blood clots, and make blood vessels leak.A Champion's Final DaysDespite his illness, Busch showed remarkable resilience by winning the Trucks Series race at Dover the weekend before his death and finishing 17th in the All-Star race on Sunday. He was preparing to race in the Coca-Cola 600 at Charlotte Motor Speedway when tragedy struck.On Wednesday, while testing in a Chevrolet racing simulator in Concord, North Carolina, Busch became unresponsive and was transported to a hospital in Charlotte. During the emergency call, dispatchers were informed that Busch was experiencing shortness of breath, was very hot, thought he was going to pass out, and was coughing up blood.A Legacy of ExcellenceBusch's racing career spanned two decades, during which he won 234 races across NASCAR's top three series—more than any driver in history. His achievements earned him two NASCAR championships and cemented his status as one of the sport's greatest competitors.His death has prompted an outpouring of tributes from across the racing world. In a gesture of respect, all 39 drivers in Sunday's race will display a black No. 8 decal on their cars to honor Busch.The Future of NASCAR Without a ChampionThe sudden loss of such a prominent figure leaves a significant void in NASCAR. Busch was not only a competitor but also a mentor and ambassador for the sport. His absence will undoubtedly be felt in the garage, the broadcast booth, and among fans worldwide.As the racing community mourns, attention will turn to how NASCAR will adapt and honor Busch's legacy while continuing its season. The sport's leaders will face the challenge of balancing competition with remembrance in the weeks and months ahead.
#Kyle Busch #NASCAR #Sepsis
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Politics May 23, 2026

France Bans Israeli Minister Itamar Ben-Gvir Over Activist Abuse

France has banned Israeli far-right National Security Minister Itamar Ben-Gvir from entering its te…
France Bans Israeli Minister Over Activist AbuseFrance has banned Israel's far-right National Security Minister Itamar Ben-Gvir from its territory after footage of him taunting abducted flotilla activists triggered international condemnation. Foreign Minister Jean-Noel Barrot announced the ban on Saturday, stating that Ben-Gvir's actions toward French and European citizens on the Global Sumud Flotilla were reprehensible.Ben-Gvir's Controversial ActionsBen-Gvir had posted footage on social media showing himself gloating as activists from the flotilla knelt on the floor, blindfolded, with their hands bound, at the Port of Ashdod. Israeli naval forces had intercepted the flotilla's vessels in international waters off the coast of Cyprus, illegally abducting about 430 participants.International CondemnationThe images of activists being dragged across the floor prompted several countries – including Italy, France, the Netherlands, Canada, and Spain – to summon Israeli ambassadors, condemning the "unacceptable" treatment and violation of human dignity. Barrot emphasized that France cannot tolerate its nationals being threatened, intimidated, or subjected to violence by a public official.Call for EU SanctionsBarrot noted that Ben-Gvir's actions follow "a long series of shocking statements and actions, as well as incitement to hatred and violence against Palestinians." He called on the European Union to impose sanctions against Ben-Gvir, similar to his Italian colleague's recommendation. The minister highlighted that these actions have been condemned by a large number of Israeli governmental and political figures.Future Implications for Israel-EU RelationsThe ban represents a significant diplomatic escalation between Israel and European nations, particularly France. With multiple European countries condemning the treatment of flotilla activists and calling for sanctions, Israel may face increased international isolation regarding its policies toward Gaza and its treatment of activists and detainees.
#France #Israel #Itamar Ben-Gvir
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Politics May 23, 2026

Iran-US Diplomacy at Critical Juncture as Major Obstacles Persist

As the Iran conflict approaches day 85, diplomatic efforts intensify with Pakistan mediating betwee…
The Diplomatic Standoff in Tehran Pakistan's powerful army chief, Field Marshal Asim Munir, arrived in Tehran on Friday as diplomatic efforts to broker a peace agreement between Iran and the United States intensified. Pakistani officials are reportedly playing a growing mediation role as regional powers push to prevent a wider conflict. But Iranian officials have tempered expectations for a quick breakthrough. Iran's Foreign Ministry spokesperson said differences in the mediated talks between Tehran and Washington remain "deep and significant", signalling that major obstacles still stand in the way of a formal agreement. Meanwhile, outrage is growing over Israel's treatment of Gaza aid flotilla activists after organisers of the Global Sumud Flotilla said at least 15 detainees reported incidents of sexual assault, including rape, following their seizure by Israeli forces in international waters. The allegations have added to mounting international scrutiny over Israel's handling of pro-Palestinian activists and detainees. Iran's Strategic Position on Hormuz Hormuz 'security service': Iran said fees and tolls linked to transit through the Strait of Hormuz are part of a "security service" provided to vessels crossing the strategic waterway, as Tehran rejects US threats of escalation and asserts control over the strait under what it calls a "new reality". Iranian officials say more than 30 vessels passed through the Strait of Hormuz in coordination with the Islamic Revolutionary Guard Corps navy over the past day. War halt 'essential': An Iranian official said stopping the war "on all fronts" is a necessary condition for any future negotiations with the US, while stressing that no final agreement has yet been reached despite ongoing efforts to bridge differences between Tehran and Washington. The source added that a positive diplomatic atmosphere alone is "not enough" to secure a deal. The Decisive Stage of Diplomacy 'Turning point': Iran said intensive diplomacy with the US has reached a "decisive" stage, with Foreign Ministry spokesman Esmaeil Baghaei citing the presence of senior Pakistani officials in Tehran as part of efforts to secure a peace agreement. He said Iran would not publicly discuss details of nuclear negotiations after past talks "led us into war", while reiterating Tehran's right to pursue peaceful nuclear energy. Sanctions not a priority: An Iranian official says ending the war, lifting the US blockade and ensuring stability in the Strait of Hormuz remain Tehran's main priorities in ongoing peace talks, while stressing that lifting sanctions on oil exports and releasing frozen assets are "not details for us". The official also praised Qatar's role in supporting Pakistani-led mediation efforts. UN push on Hormuz: France has drafted a United Nations Security Council resolution proposing an international mission to restore shipping through the Strait of Hormuz, as a competing US-Bahraini proposal faces resistance from Russia and China, which have signalled they may veto the measure. The dispute over control of the strategic waterway has become a key obstacle in efforts to end the US-Israeli war on Iran amid rising oil prices and shipping disruptions. US Position and Domestic Pressures Diplomatic efforts continue: The US said "some progress" has been made in talks with Iran, though major differences remain over Tehran's enriched uranium programme and control of the Strait of Hormuz. Pakistan and Qatar step up mediation efforts in Tehran as Secretary of State Marco Rubio warns Washington still has "other options" if diplomacy fails. Domestic pressure grows: Jason Campbell of the Middle East Institute said President Donald Trump is facing mounting pressure to de-escalate the war with Iran as oil prices rise and US midterm elections approach, despite Trump insisting the conflict "will be over soon". Campbell said Tehran believes it can withstand prolonged economic and security pressure, while "time is not a neutral factor" for the White House. Escalating Regional Conflicts US sanctions in Lebanon: Washington has imposed sanctions on nine individuals in Lebanon, including two military officers accused of links to Hezbollah, even as the US continues to mediate talks between Lebanese and Israeli officials. Deadly strikes in Lebanon: Israeli attacks across southern Lebanon have killed at least 11 people, including several healthcare workers and paramedics, in the latest violence to test the fragile US-mediated ceasefire between Israel and Lebanon. The strikes hit multiple locations in the Tyre district, including Deir Qanoun en-Nahr, Hannaouiyah and Nabatieh, as Israel says it will continue targeting Hezbollah despite the truce. Lebanon economy strained by war: Business owners in Lebanon said the wars involving Israel, Hezbollah and Iran are deepening the country's economic crisis, with rising fuel and supply costs driving inflation higher and hurting livelihoods. In Beirut, barber Mario Habib says soaring generator, petrol and product costs have reduced business, as economists warn Lebanon's fragile recovery could stall if the conflict continues. Hamas accuses Israel of seeking Palestinian displacement: Senior Hamas official Osama Hamdan said Israel's war on Gaza aims to "end the Palestinian presence" in the territory rather than merely occupy it, rejecting calls for Hamas to disarm and warning that Palestinians would continue to resist what he described as efforts to force them from their land.
#Iran #United States #Pakistan
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Entertainment May 22, 2026

The Rise of Trash Pop: Female Artists Rejecting Respectability

A new wave of female pop stars, including Slayyyter, Kim Petras, and Tove Lo, are embracing a hedon…
The Rise of Trash Pop In 2026, a new generation of female pop stars is defying expectations of being vessels of order and stability. Instead, they're embracing a hedonistic, feral aesthetic, characterized by brash electronic pop, shameless lyrics, and anarchic sexuality. The New Wave of Trash Pop Artists like Slayyyter, Kim Petras, Cobrah, Demi Lovato, Snow Strippers' Tatiana Schwaninger, Tove Lo, and Kesha are leading the charge. Their music and style are a deliberate rejection of the traditional feminine ideal. Slayyyter, for example, describes herself as a "too drunk, trashy St Louis girl" with a carefree attitude. The Cultural Context This movement is not happening in a vacuum. It's a response to the pressures of modern life, including the climate crisis, AI, and war. According to Ione Gamble, editor of The Polyester Book of (Bad) Taste, "Part of this feels like an extension of post-lockdown nihilism. Things are so bad in a political context that we may as well have fun." The Rejection of Respectability This new wave of artists is rejecting the pressure to conform to traditional notions of femininity. Tove Lo, 38, says, "The older I get, the more intense the pressure gets around being a 'good woman,' and that mould feels so boring. There's a confidence in not doing everything perfectly." The Influence of Electroclash and Indie Sleaze The trash-pop sound is influenced by electroclash and indie sleaze, with artists drawing inspiration from the raw, unapologetic energy of the early 2000s. Charli XCX's album Brat has been cited as a key influence, with its hedonistic club energy and infectious beats. The LGBTQ+ Connection The trash-pop movement has long been popular within the LGBTQ+ community, with artists like Slayyyter, Petras, and Ayesha Erotica leading the way. The genre's emphasis on self-expression and rebellion has resonated with fans who feel marginalized or oppressed. The Future of Pop As the music industry continues to evolve, it's clear that trash pop is here to stay. With its unapologetic energy and infectious beats, this new wave of female artists is redefining what it means to be a pop star. The question is, what's next for this genre, and how will it continue to influence the music industry?
#Slayyyter #Kesha #Tove Lo
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World Wide May 22, 2026

Flotilla Activists Recount Israeli Violence Upon Arrival in Turkiye

A group of flotilla activists arrived in Turkiye on 21 May 2026, sharing first‑hand accounts of Isr…
Activists Dock in Turkiye and Share Their StoriesOn 21 May 2026, a flotilla of human‑rights activists reached the port of Turkiye after a contested voyage aimed at highlighting the situation in Gaza. Upon disembarkation, the participants gathered a press briefing to recount alleged incidents of violence perpetrated by Israeli forces during the journey.First‑Hand Accounts of Israeli ViolenceActivists described being intercepted by Israeli naval vessels in international waters.Witnesses reported the use of tear‑gas canisters and rubber‑bullet fire.Several participants claimed injuries requiring medical attention upon arrival.Regional Diplomatic RepercussionsThe arrival has prompted statements from both the Turkish government and the Israeli foreign ministry. Ankara condemned the alleged use of force, while Tel Aviv defended its actions as lawful enforcement of maritime security.Implications for Future Maritime ActivismHuman‑rights groups argue the testimonies could galvanize further flotilla initiatives, whereas security analysts warn of heightened naval confrontations in the Eastern Mediterranean.Looking Ahead: Potential DevelopmentsInternational observers anticipate increased diplomatic dialogue at upcoming UN forums, with the activists’ accounts likely influencing discussions on the legality of blockades and the protection of humanitarian missions.
#Israel #Turkey #Flotilla Activists
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Politics May 21, 2026

US-Iran Diplomacy Gains Momentum Amid Pakistan Mediation and Gulf Tensions

Pakistani Interior Minister Mohsin Naqvi arrived in Tehran for a second visit in a week, intensifyi…
Renewed Diplomatic Push in TehranThe latest wave of back‑channel diplomacy centers on Mohsin Naqvi's visit to Tehran, where he met Iranian Interior Minister Eskandar Momeni. While details remain confidential, the trip marks the second high‑level Pakistani engagement in less than a week, suggesting a concerted effort to narrow the gaps that have stalled a durable US‑Iran peace settlement.Pakistani Mediation Gains Traction Amid Ongoing HostilitiesKey developments surrounding the visit include:Saudi Arabia reported intercepting three drones on the day after a drone strike targeted the UAE’s Barakah Nuclear Energy Plant.The Iranian IRGC coordinated the transit of 26 vessels through the Strait of Hormuz in the past 24 hours, keeping a critical oil route partially open.Iran is reviewing a new US peace proposal conveyed via Pakistan, while Tehran has submitted a revised 14‑point peace plan to end the war.Quantifying the Regional Stakes: Drones, Vessels, and Energy FlowNumbers underscore the fragility of the situation:20% of the world’s oil and LNG supplies normally pass through the Strait of Hormuz, making any disruption a global market concern.Three drones intercepted by Saudi forces highlight the risk of rapid escalation.The coordinated movement of 26 vessels shows limited but ongoing commercial activity despite diplomatic deadlock.Implications for Gulf Stability and Global Energy MarketsThe convergence of diplomatic talks and security incidents creates a volatile mix:Continued US‑Iran disagreement over Iran’s enriched uranium stockpile and a proposed 20‑year moratorium threatens non‑proliferation goals.Iran’s selective control of Strait of Hormuz traffic, coupled with US threats of a naval blockade, raises the specter of supply shocks.China’s recent hosting of Russian President Vladimir Putin and upcoming meetings with Pakistani Prime Minister Shehbaz Sharif suggest a broader geopolitical contest that could influence mediation outcomes.Outlook: Potential Paths for a US‑Iran Settlement and Regional RealignmentAnalysts see three plausible trajectories:Breakthrough Scenario: Pakistan’s intensified shuttle diplomacy, backed by limited Chinese facilitation, yields a revised framework that addresses uranium concerns and establishes a confidence‑building mechanism for Strait of Hormuz traffic.Stalemate Scenario: Persistent gaps on nuclear enrichment and proxy support keep negotiations at a “borderline” stage, prompting renewed low‑level hostilities and further drone attacks.Escalation Scenario: A miscalculation—such as an unanticipated drone strike or a US naval action—triggers a rapid escalation, threatening regional oil flows and global markets.For now, the diplomatic cadence set by Naqvi and the upcoming potential visit of Pakistan’s army chief Asim Munir to Tehran will be the barometer for whether the talks can move beyond proposal exchanges toward a concrete memorandum of understanding.
#United States #Iran #Pakistan
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Economy May 21, 2026

The Economics of Hormuz: Calculating the Cost of Iran's Transit Toll

As the Strait of Hormuz remains closed eleven weeks into the Iran war, this analysis examines wheth…
The LeadEleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf. Iran's Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over this narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.Before the war began, between 120 and 140 ships travelled through the strait each day, about half of them oil tankers carrying some 20 million barrels of oil between them. Now, only a few vessels whose owners have negotiated with the IRGC are permitted to pass.The Strategic Control of HormuzOn Wednesday, Iran said it coordinated the transit of 26 vessels through the Strait of Hormuz in 24 hours, two days after announcing the formation of the Persian Gulf Strait Authority (PGSA), a new body to provide "real-time updates" on operations in the strait.Since the announcement of a temporary ceasefire between the US and Iran in April, Iran has been working on formalising a mechanism to charge a transit fee from ships crossing the critical chokepoint, through which 20 percent of the world's oil and liquefied natural gas (LNG) are shipped during peacetime.Tehran has reportedly already charged fees as high as $2m per ship for transit since the war started. Even though countries opposing Tehran say this is illegal, it may still be less expensive than the overall cost of the closure of the strait each day.The Economic Cost of BlockadeNearly one-fifth of global oil and LNG exports were shipped by Gulf producers through the Strait of Hormuz before the US and Israel bombed Iran on February 28, triggering the Iranian closure of the waterway. The strait is the only waterway linking Gulf producers to the open ocean – there is no other route through which they can ship exports.About 20.3 million barrels per day of oil passed through the Strait of Hormuz in peacetime – nearly 27 percent of global maritime oil trade. The lion's share of that crude went to Asian markets.Global LNG trade has been similarly hard hit. On the day before the war broke out, Brent crude – the global benchmark for oil prices – closed at $72.48 per barrel. After Iran closed the waterway on March 4 and began attacks on vessels attempting to sail through, traffic came to a standstill, stranding about 2,000 ships on either side of the strait.In terms of lost oil revenues, this amounts to $114.8bn of losses per day. About 10 billion cubic feet of LNG per day also used to pass through the strait, worth a further $7.8bn.The Cost-Benefit Analysis of Transit FeesFor hundreds of ships stranded in the Gulf with thousands of sailors on board, the cost of remaining anchored is steep, including crew wages, loan repayments, repair and management, coupled with inflated war risk premiums.In turn, Iran has reportedly been charging up to $2m for authorisation to pass. Experts say many will see this as worthwhile purely in terms of monetary cost."There is no doubt that paying Iran is cheaper than a continuous blockade because a sitting tanker bleeds money," said Nader Habibi, an Iranian American economist."It makes sense from an economic point of view, but it is not politically feasible," he added. "The companies are under pressure from the US sanctions and not to make arrangements with Iran. This is not just a purely economic cost-benefit analysis, but long-term considerations that are taken into account."International Legal PerspectivesInternational law protects free transit through strategic waters such as natural straits like Hormuz, barring countries from imposing passage tolls even where the waterways fall entirely into territorial waters, like in the case of Hormuz.However, services such as security controls, inspections and insurance regimes can be charged for. Chargeable fees also partly depend on whether a waterway is a man-made passageway or a natural one.These are three different precedents in maritime traffic flow:Panama Canal: An artificial waterway connecting the Atlantic and Pacific oceans. Vessels pass through a unique system of locks that raise and lower vessels across elevated terrain. Since Panama built, maintains and operates the canal, it can charge transit fees based on vessel size, cargo capacity and booking priority. These range from several hundred thousand dollars per transit to some slots sold for millions of dollars.Suez Canal: Another artificial canal, linking the Mediterranean and Red seas. Egypt charges transit fees for the use of canal infrastructure, maintenance and traffic management services through the narrow waterway. Container ships and oil tankers pay from several hundred thousand dollars to more than one million dollars per voyage.Turkiye's Bosporus Strait and Dardanelles: These are different because they are natural straits, rather than man-made canals. Turkiye charges for navigation-related services such as lighthouse operations, rescue readiness, medical support and traffic management – and tightly controls ship scheduling and navigation.Regional Cooperation PossibilitiesIran's newly-formed PGSA published a new map of Hormuz, stretching from Kuh-e Mubarak in Iran to south of Fujairah, in the UAE, at the eastern entrance of the strait, and from the tip of Qeshm Island to Umm al-Quwain at the western entrance.Given how the Iran war has spilled over into the Gulf region – with the UAE taking the brunt of Iranian strikes – economist Mohammad Reza Farzanegan said "regional cooperation with Iran is the most realistic path to stable transit through the Strait of Hormuz."The UAE, Oman, Qatar and Iran will have to work together because their economies require it, he argued. A workable arrangement could include a joint maritime authority, shared monitoring, emergency coordination, environmental protection and service-based contributions for maintaining safe passage."This would give Iran a recognised role in the security of the waterway while giving Persian Gulf economies more predictability," Farzanegan added. "Such a framework is also more realistic than relying on external military enforcement, which has been more a source of trouble for these states."The Future OutlookWhile it may seem that the economics of the closure of the strait are currently skewed towards Iran, Aniseh Tabrizi, an associate fellow on the Middle East and North Africa Programme at think tank Chatham House, noted that "the economics by itself is not going to be the driver to change calculation or move from the current standpoint."She emphasized that Iran and the US need to reach a "diplomatic compromise, with other calculations linked in to the economic factor", before there can be an end to the energy supply crisis.Farzanegan added that if the world expects stable access to the Strait of Hormuz, then paying Iran could well be accepted as the price of keeping the vital waterway predictable. "From an economic perspective, a negotiated transit arrangement [with Iran] now makes more sense than continued closure," he concluded.
#Iran #Strait of Hormuz #Oil Prices
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