Global Food Prices Hit Three-Year High As War, Chokepoint Chaos And El Nino Spark Perfect Storm
Global Food Prices Hit Three-Year High As War, Chokepoint Chaos And El Nino Spark Perfect Storm The UN Food and Agriculture Organization’s Food Price Index climbed to a three-year high in July, extending its upward trajectory as conflicts across Eurasia (the Black Se…
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Iranian state media reported blasts in Qeshm Island, Jask, Sirik, and Bandar Abbas. The UAE stated it rescued 22 people from a cargo ship that caught fire after Iran’s IRGC reported two oil tankers struck mines in the Strait of Hormuz. The US announced a plan to block Iran’s land-based supply routes, expanding its naval blockade on Iranian ports.
Iran’s Islamic Revolutionary Guard Corps Navy reported late Saturday that two oil tankers were burning after striking naval mines in and near the Strait of Hormuz. The IRGC stated that the vessels had switched off their navigation and positioning systems and attempted to use an unauthorized route.
The group accused both ships of multiple violations, specifying that one was hit east of the strait and the other inside it.
Latvian farmers are protesting the transit of Russian grain, asserting that this trade helps fund Moscow’s war in Ukraine.
Zero Russian diesel has reached the US as tankers divert and buyers fear legal action.