IMO in the news for IMO-linked shipping/pollution debates and global fuel/tension crises around Hormuz; a UN body regulating maritime transport.
The U.S.-Israeli conflict with Iran has led to Iran restricting maritime traffic through the Strait of Hormuz, disrupting about 20% of global oil and natural gas shipments. Iran states it has taken measures to prevent hostile vessels from passing, citing US and Israeli attacks as the cause of the current crisis.
Iran announced it will allow some vessels to pass through the Strait of Hormuz, citing safety and security regulations, as tensions from the ongoing war with the US and Israel persist. Traffic remains significantly reduced, impacting global energy supplies and prices.
Iran has declared the Strait of Hormuz completely closed following US and Israeli strikes on Iran. This has caused a sharp drop in shipping traffic, a surge in oil prices to $111 a barrel, and energy shortages in countries like the Philippines. Alternative routes are being explored, but the impact on global markets is immediate and severe.
A Russian LNG tanker, Arctic Metagaz, has been drifting in the Mediterranean since a series of explosions on March 3. Libyan authorities failed to tow it due to bad weather, raising environmental concerns. The vessel remains out of control, with risks of pollution and ecological disaster.
President Trump has announced a halt of all ships entering or leaving the Strait of Hormuz until Iran allows unobstructed oil flow. Iran's IRGC Navy claims full control and warns against military approaches. The US has reported passing two destroyers through the strait and downed an Iranian drone amid ongoing tensions.
A Russian LNG tanker has been drifting in the Mediterranean since a suspected sea drone attack in early March. The vessel, carrying 60,000 tonnes of LNG, was badly damaged and is now out of control. Ukraine has not claimed responsibility but is accused of targeting the tanker with naval drones. The incident highlights ongoing tensions over sanctions and energy exports amid the Ukraine conflict.
The EU has provisionally applied the EU-Mercosur trade pact amid domestic opposition, with tariffs set to fall on most bilateral trade. Final ratification remains pending the EU judiciary's ruling; the bloc cites potential GDP gains while critics warn of farming disruption and environmental risks. Leaders are coordinating Friday to mark the milestone as negotiators push for full implementation.
President Trump has signalled that the Iran ceasefire is on life support, with hints of renewed hostilities, while Tehran presses for a peace framework and a nuclear discussion. Iran appears to be expanding influence over Hormuz, and a US–China summit in Beijing will address the crisis as energy markets react.