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Rubio Insists US 'Will Not Tolerate' Deal Which Makes Iran Gatekeeper Over Hormuz, As Putin Tells Araghchi Tehran 'Fighting For Its Sovereignty'
Rubio Insists US 'Will Not Tolerate' Deal Which Makes Iran Gatekeeper Over Hormuz, As Putin Tells Araghchi Tehran 'Fighting For Its Sovereignty'
Summary
Putin tells FM Araghchi that he's been in contact with the new Supreme Leader, and says Iran fighting for 'sovereignty'
After a weekend of stalemate malaise, Iran reportedly offers new proposal for opening ship traffic, while postponing the thorny nuclear issue; Rubio says 'will not tolerate' Iran control of strait
Trump says peace could come via telephone rather than face-to-face meetings, also warning Iranian oil infrastructure could explode from within unless flow resumes;...
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Apr 22, 2026 / Tyler Durden
Navy Secretary John Phelan Abruptly Departs Trump Admin With No Explanation, "Effective Immediately"
Navy Secretary John Phelan Abruptly Departs Trump Admin With No Explanation, "Effective Immediately"
In a terse, one-paragraph statement released this afternoon, the Pentagon announced the immediate departure of Secretary of the Navy John C. Phelan, effective immediately.
Navy Secretary John Phelan speaks at President Donald Trump's Mar-a-Lago club on Dec. 22, 2025, in Palm Beach, Florida. (Alex Brandon/AP)
Undersecretary of the Navy Hung Cao has been elevated to Acting Secretary of the Navy. The announcement, issued by Chief Pentagon Spokesman Sean Parnell (Assistant to the Secretary of War for Public Affairs), offered...
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Mar 5, 2026 / Tyler Durden
UBS Discusses Next Maritime Chokepoint Investors Should Watch
UBS Discusses Next Maritime Chokepoint Investors Should Watch
A lot of attention has centered on the Strait of Hormuz since the waterway was effectively shut not only by the IRGC drone threat, but mostly because maritime insurers are withdrawing war-risk coverage across the region. Our focus now shifts to the other critical maritime chokepoints. If Washington can pressure Iranian oil flows and, by extension, curb China's cheap Gulf crude flows, then the Taiwan Strait and South China Sea also emerge as potential flashpoints that traders can no longer afford to...
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Apr 16, 2026 / Tyler Durden
India's Central Bank Tells Oil Refiners To Stop Buying Dollars On Spot Market
India's Central Bank Tells Oil Refiners To Stop Buying Dollars On Spot Market
By Julianne Geiger of OilPrice.com
India’s central bank has told state-run oil refiners to stop buying dollars in the spot market and instead use a government-backed credit line.
That matters because oil is priced in dollars, and refiners are some of the biggest buyers of dollars in the country. When they all go into the market at once to pay for crude, it puts direct pressure on the rupee. That pressure has been building for weeks.
The Reserve Bank of...
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