The Trump administration will allow a waiver temporarily authorizing the purchase of certain Iranian crude oil to expire this weekend.
The impounded Iranian crude oil tanker, Grace 1, is silhouetted as it sits anchored off the coast of Gibraltar on Saturday, July 20, 2019. Tensions have flared in the Strait of Hormuz in recent weeks as Iran resists U.S. sanctions that are crippling its oil exports and lashes out after the seizure on July 4 of one of its ships near Gibraltar. Photographer: Marcelo del Pozo/Bloomberg
The US and Iran are looking to arrange a second round of peace talks in the coming days as a standoff in the Strait of Hormuz worsens a global energy crisis and complicates diplomatic prospects.
The Rich Starry (in white) is currently transiting the Strait of Hormuz signaling Chinese ownership. The Elpis had passed through a few hours earlier.
The Trump administration will allow a waiver temporarily authorizing the purchase of certain Iranian crude oil to expire this weekend.
The impounded Iranian crude oil tanker, Grace 1, is silhouetted as it sits anchored off the coast of Gibraltar on Saturday, July 20, 2019. Tensions have flared in the Strait of Hormuz in recent weeks as Iran resists U.S. sanctions that are crippling its oil exports and lashes out after the seizure on July 4 of one of its ships near Gibraltar. Photographer: Marcelo del Pozo/Bloomberg
Indian Prime Minister Narendra Modi said he spoke with US President Donald Trump to discuss the Iran war and situation in the Strait of Hormuz, as a US blockade of the waterway risks exacerbating a global energy crisis.
Narendra Modi, India's prime minister, speaks during a news conference with Mark Carney, Canada's prime minister, not pictured, at Hyderabad House in New Delhi, India, on Monday, March 2, 2026. Carney met Modi in New Delhi on Monday to reset relations after years of strain, with both leaders looking to clinch deals to boost trade and supply chains.
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