Iran swiftly reversed course on reopening the Strait of Hormuz on Saturday, reimposing restrictions on the critical waterway after the US said it would not end its blockade of Iran-linked shipping. Iran’s joint military command said that “control of ...

Pakistan, July 8 -- The United States has reimposed restrictions on Iran's oil sales, accusing Tehran of targeting commercial vessels in the Strait of Hormuz. The US sanctions on Iran oil mark another escalation in tensions despite the recent memorandum of understanding between the two countries.

Shipping traffic through the Strait of Hormuz dropped sharply on April 20 after Iran abruptly reinstated its blockade, just days after reopening the route on April 17 during a fragile ceasefire with the US. The sudden move comes ahead of an April 21 ...

The US warned of consequences for Iran's actions, which threaten ongoing negotiations for a broader agreement. The Strait is crucial for global energy transport.

The United States has reimposed restrictions targeting Iranian oil exports, prompting sharp criticism from Tehran and raising fresh questions over the future of the US-Iran memorandum of understanding.

The price of diesel, which is widely used in the trucking industry and affects shipping costs, was $4.77 per gallon on Wednesday, compared with $3.76 before the Iran war.