World · 1 hour ago
Iran plans to create a new restricted shipping zone in the Gulf
Tehran warned on Sunday that it will place trade sanctions on any ship caught sailing into the off-limits waters. A senior national security official confirmed the strategy, adding that fresh navigation routes agreed with neighbouring Oman will be approved shortly. Global oil prices climbed past $97 a barrel on Monday as traffic through the vital channel hit a four-month low.
Reported by Reuters · How we write briefs