Russia Budget Gap Spikes Despite Oil Windfall Driven by Iran War Russia’s budget gap sharply widened despite a windfall in energy revenue driven by the tensions around the Strait of Hormuz, as the Kremlin continues to ramp up spending on its war in Ukraine.
Russia Budget Gap Spikes Despite Oil Windfall Driven by Iran War Russia’s budget gap sharply widened despite a windfall in energy revenue driven by the tensions around the Strait of Hormuz, as the Kremlin continues to ramp up spending on its war in Ukraine. (Bloomberg) — Russia’s…
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Iranian media and the Revolutionary Guards Navy reported explosions in several parts of southern Iran, including Qeshm Island, on Saturday evening. These outlets stated that two oil tankers caught fire in the Strait of Hormuz after reportedly hitting mines.
The incidents occurred amid a US blockade of the waterway, which intensified tensions and fears of renewed American strikes.
The US military carried out fresh strikes on Iranian air defenses on Qeshm Island following the targeting of vessels in the Strait of Hormuz. Both sides stated on Saturday that negotiations to end the war are ongoing.
U.S. Central Command reported that it fired on and disabled a St. Kitts-flagged commercial vessel in the Gulf of Oman. The military stated the ship ignored warnings and attempted to leave the region after visiting an Iranian port, which it described as an attempt to breach a blockade.
LPR authorities reported that two civilians were injured in Ukrainian attacks on residential buildings and vehicles.