Luxury Yacht Linked to Russian Oligarch Passes Through Strait of Hormuz
The Nord, a 464-foot vessel, appears to be tied to Aleksei A. Mordashov, a Russian steel mogul who is under American and European sanctions.
The Nord, a 464-foot vessel, appears to be tied to Aleksei A. Mordashov, a Russian steel mogul who is under American and European sanctions.
At a military base outside Portsmouth, England, a 24-hour service monitors the Persian Gulf, the Red Sea and part of the Indian Ocean, responding to distress calls.
Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
The Treasury Department also targeted a top independent Chinese refinery that it said was a major buyer of Iranian petroleum.
Iran’s foreign minister has already arrived in the country, state media reported. He was believed to be carrying a written response to a U.S. proposal to end the war.
The foes are trying to exert control over the narrow passageway. Most ships aren’t moving. Here’s what to know.
The move was intended to ensure the flow of fuel in the United States, but some economists say it might reduce gas prices for consumers only a small amount.
The conflict has morphed into a volatile standoff in the Strait of Hormuz, as the economic costs mount and President Trump faces a political backlash at home.
It was the second such action this week, as the Trump administration ramps up pressure on Tehran.
The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.