
Iran says Strait of Hormuz will remain closed unless sanctions are lifted
Tehran demands the lifting of US sanctions and the release of frozen assets before reopening the critical global oil route.

The U.S.–Iran conflict flared up again after about a month of relative quiet. Now, there are new strikes and tit-for-tat missile and drone attacks, mostly in the area around the Strait of Hormuz, which is a crucial gateway for global shipping. People are getting worried—there’s talk about rising civilian casualties, more chaos in the region, trouble for international shipping, and the very real possibility that oil and energy prices will jump.

Tehran demands the lifting of US sanctions and the release of frozen assets before reopening the critical global oil route.

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The proposed framework would require large platforms to publish independently audited risk assessments twice a year.
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What the new duties change, and for whom.
Duties of 25 per cent were applied to a list of formulations.
The duties touch a supply chain that several national health services buy from directly, so the cost lands well beyond the exporters named in the notification.
The trade ministry that opened the review, the exporters' association that responded to it, and the two health services that buy the largest volumes.
A consultation closes next month.
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