Stories tagged “Energy Supplies.”
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US President Donald Trump insisted that fresh negotiations with Iran were underway, accusing Tehran of publicly denying talks even as discussions continued over the future of the Strait of Hormuz and Iran's nuclear program.
Trump Drops Hormuz Fee Plan in Favor of Gulf Investment Deals
US President Donald Trump has stepped back from a proposal to charge a 20% transit fee on shipping through the Strait of Hormuz amid the war with Iran, saying he would instead seek investment deals with Gulf states.
The reopening of the Strait of Hormuz is a key part of the recent agreement between Iran and the US, but sea mines pose a significant challenge. Over 250 oil tankers and 330 cargo ships are currently in the Persian Gulf, with around 75% of oil tankers stationary.