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US President Donald Trump threatened to escalate strikes against Iran, targeting power plants and bridges next week unless Tehran negotiates. US forces have carried out strikes for a fourth day and reimposed a naval blockade, while tensions spread across the region.
The US Treasury Department has issued a general license for limited wind-down activities in the Strait of Hormuz while simultaneously imposing new sanctions on individuals, ships, and entities linked to Iran. The move follows the revocation of a license that had authorized Iranian oil sales, amid attacks on tankers in the strategic waterway.
President Donald Trump has abandoned his proposal to impose a 20 percent 'reimbursement' fee on cargo shipped through the Strait of Hormuz, instead seeking trade and investment deals with Gulf states. The U.S. naval blockade of Iranian ports has resumed, according to reports from Yonhap News Agency.
US President Donald Trump has abandoned a proposed 20% fee on ships passing through the Strait of Hormuz, instead opting for trade and investment deals with Gulf states. The decision follows 'highly productive conversations' with Middle East leadership, according to Trump.
Senior House Democrats, including minority leader Hakeem Jeffries, have announced they will oppose an amendment that would halt $3.3 billion in US military aid to Israel, amid growing primary challenges over Israel policy. Jeffries called the measure overly broad, while a separate House resolution on the war in Lebanon exposed divisions among Democrats.
US President Donald Trump has abandoned his proposal to charge a 20% fee on cargo shipping through the Strait of Hormuz, saying he will instead pursue trade and investment agreements with Gulf states. The reversal came hours before the US naval blockade of Iranian ports was set to take effect, as US and Iranian forces continued to trade strikes across the region.
President Donald Trump has proposed that the US take over the Strait of Hormuz and charge a 20% toll on cargo, a plan that has drawn expert skepticism and criticism from Brazilian President Lula, who called it 'piracy'.
India has summoned Iran's deputy envoy in New Delhi to protest attacks on two tankers in the Strait of Hormuz, which killed an Indian national and injured 10 others. New Zealand also summoned Iran's ambassador, urging de-escalation. India called for an immediate halt to violence and a return to dialogue.
Russian Foreign Minister Sergey Lavrov said the resumption of US strikes on Iran violates the memorandum of understanding between Washington and Tehran, warning that it closes the door to a peaceful resolution. Lavrov also noted that Israel and President Trump no longer recognize the memorandum, as regional security remains fragile.
The United States has carried out a third consecutive night of strikes against Iran and announced the reimposition of a naval blockade on Iranian ports, with President Trump threatening further escalation. The UAE reported that two of its oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing one crew member. Meanwhile, Iran's Revolutionary Guards accused the US of jeopardising global oil and gas supplies.
President Trump announced the reinstatement of a blockade on Iran in the Strait of Hormuz, imposing a 20% toll on eligible cargo, but reversed the toll the next day. The move highlights the fragile ceasefire and the strategic importance of the waterway, with Iran and the US at odds over control.
Seoul shares closed higher Tuesday, led by a rebound in technology heavyweights, despite ongoing concerns over Middle East tensions and AI sector uncertainty. The KOSPI rose 0.73% to 6,856.83, while the Korean won strengthened. Bond yields climbed as prices fell.
The US military has launched a third consecutive night of strikes against Iran, while Iran's Revolutionary Guards Corps announced missile and drone attacks on US facilities in Bahrain. Both sides accuse each other of violating the interim agreement that had ended fighting in June.
South Korea's government has lifted its 2026 growth forecast to 3 percent, citing a semiconductor supercycle and easing Middle East tensions, while international bodies like the IMF and ADB project 2.6 percent. The government also outlined plans to boost exports, income, and infrastructure investment.
The US government has refunded tens of billions of dollars in tariffs to businesses after the Supreme Court ruled the tariffs illegal. The refunds, which include interest, have reached $80-81 billion, with companies like Nintendo seeking refunds and customers suing for compensation.
South Korea's benchmark KOSPI opened lower on Tuesday, tracking Wall Street losses, as investors weighed heightened Middle East uncertainty and AI sector concerns. The index fell in early trading, with tech heavyweights like SK hynix and Samsung Electronics under pressure, while the Korean won ticked up slightly against the dollar.
US President Donald Trump has declared the reinstatement of a naval blockade targeting Iranian vessels and cargo in the Strait of Hormuz, while stating the United States will act as guardian of the waterway and impose a 20 percent charge on cargo. The move follows renewed military exchanges between US and Iranian forces, including reported Iranian missile strikes on UAE tankers.
Israel is pushing to accelerate negotiations with the Trump administration on a new bilateral defense framework to replace the current Memorandum of Understanding, which expires in 2028. The talks aim to transition from 'aid' to 'partnership', with a proposed 10-year wind-down of US military aid. Time is tight as the current US Congress ends in January.
According to OPEC data, seven OPEC+ countries voluntarily cutting output produced 22.988 million barrels per day in June 2026, missing their agreed target of 29.548 million bpd by 6.56 million bpd. Russia fell 834,000 bpd short of its quota, while Saudi Arabia, Iraq, and Kuwait recorded larger shortfalls. The compensation period for past overproduction was extended to end-December 2026, and August quotas were raised by 188,000 bpd.
President Trump said the U.S. will act as 'guardian' of the Strait of Hormuz and charge a 20% fee on all cargo shipped through it, while reinstating a naval blockade of Iranian ports. The announcement comes amid ongoing U.S.-Iran tensions and has raised questions about cost calculations and implications for energy-importing nations.