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MOSCOW/LONDON: Russia’s foreign ministry said on Sunday that the closure of the Strait of Hormuz to shipping could lead to significant disbalances on the global oil and gas markets. Trading sources said on Saturday that several tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of after the US and Israel and Tehran said it had closed navigation. Some 20% of global oil, including from producers Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran, passes through Hormuz…

The assassination of Iran’s Supreme Leader Ayatollah Ali Khamenei in a joint US-Israeli strike has plunged the Islamic Republic into one of the most consequential political transitions since the 1979 revolution, triggering a swift constitutional process to select a new leader while the country grapples with regional escalation and internal uncertainty. Khamenei, who dominated Iran’s political and religious landscape for nearly three decades, was assassinated early Saturday when his high-security residential compound in central Tehran was targeted. Several family members — including his daughter, son-in-law, daughter-in-law and a grandchild — were also…

Russia’s foreign ministry said on Sunday that the closure of the Strait of Hormuz to shipping could lead to significant disbalances on the global oil and gas markets. Trading sources said on Saturday that several tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of after the US and Israel and Tehran said it had closed navigation. Some 20% of global oil, including from producers Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran, passes through Hormuz along with large volumes of…

MOSCOW: Russian President Vladimir Putin said on Sunday that the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and members of his family was a “cynical” murder that violated all the norms of human morality and international law. “Please accept my deep condolences in connection with the murder of the Supreme Leader of the Islamic Republic of Iran, Seyed Ali Khamenei, and members of his family, committed in cynical violation of all norms of human morality and international law,” Putin said in a note to Iranian counterpart Masoud Pezeshkian released by the…

US President Donald Trump said on Sunday that Iran’s new leadership wants to talk to him and that he has agreed, according to an interview with The Atlantic magazine. “They want to talk, and I have agreed to talk, so I will be talking to them. They should have done it sooner. They should have given what was very practical and easy to do sooner. They waited too long,” Trump said in the interview from his Florida residence. Trump did not specify who he would be speaking with or say whether it…

DUBAI/ JERUSALEM,: Israel launched a new wave of strikes on Tehran on Sunday, saying it aimed to dominate the skies after assassinating Iran’s supreme leader and leaving the Islamic Republic grappling to rebuild its leadership amid its biggest test in five decades. US and Israeli strikes — and Iranian retaliation — sent shockwaves through sectors from shipping to air travel to oil, amid warnings of rising energy costs and disruption to business in the Gulf, a strategic waterway and global trade hub. Iranian President Masoud Pezeshkian said a leadership council composed of himself, the judiciary head and a member of the…