Iran’s free-trade resort island in the Persian Gulf
Iraq’s prime minister travels to Washington to deepen economic ties as the Strait of Hormuz remains closed and fighting between the US and Iran intensifies. Oil output, IMF talks, and potential US investment are on the table while Iran-backed groups push back against disarmament. Diplomatic prospects hinge on stabilizing energy flows and expanding state control over weapons.
Israel and its allies are under renewed pressure as mediation efforts on southern Lebanon and southern Syria are tested by ongoing clashes, shifting security zones, and new calls for withdrawal. The broader Middle East crisis is escalating with US-led diplomacy pushing for a staged redeployment while maintaining security arrangements.
Tensions in the Strait of Hormuz have intensified as US and Iranian strikes resume, targeting military and shipping assets across Iran, Kuwait, Jordan and Bahrain. Iran claims attacks on US bases and allied facilities; CENTCOM reports strikes aimed at degrading Iran’s ability to threaten commercial shipping. Oil markets react to the disruption.
The US has completed a two-hour "heavy wave" of strikes across Iran, hitting Revolutionary Guard command centres, missile and drone facilities and coastal surveillance sites after Tehran fired ballistic missiles at US forces. Iran has launched retaliatory drone and missile strikes on US assets and allied facilities in the region; Jordan reported intercepting missiles with no casualties.