A unit of the Islamic Revolutionary Guard Corps (IRGC) and two Iranian people were sanctioned by the European Union on Monday for endangering the freedom of marine trade in the Strait of Hormuz, which is where around a fifth of the world's oil flows. This was the first time the bloc had sanctioned Iran for limiting freedom of navigation using new powers. The IRGC Navy's Hormozgan Provincial Command, together with Mohammad Akbarzadeh and Hamid Hosseini, were added to the sanctions list by the EU, according to AFP. ALSO READ | Iran's IRGC Declares End Of Military Operations Against Israel It stated that Hosseini represents Iran's Oil, Gas and Petrochemical Products Exporters' Union, while Akbarzadeh is the IRGC Navy's deputy commander for political affairs. After US-Israeli strikes on Iran started on Feb. 28, Iran took action to block the Strait of Hormuz. Energy prices have skyrocketed as a result of the Iran war and the closing of the Hormuz Strait. "What Iran is doing is not acceptable," the EU's foreign policy leader, Kaja Kallas, earlier stated at a news conference in Cyprus that member states have authorised sanctions against Iranian organisations and individuals involved in obstructing transit through the Strait of Hormuz. Kallas continued, "This is the first time the EU has implemented its new freedom of navigation regime, and we will apply it again when necessary." The EU announced last month that it was moving forward with penalties on Iranian officials and those in charge of obstructing the Strait of Hormuz. The sanctions would include asset freezes and travel restrictions. ALSO READ | 'History Rewards Careful Reading': Iranian Consulate Retorts After Elon Musk Links Hormuz To Zoroastrianism Additionally, it will be illegal for EU nationals and businesses to provide money, assets, or other financial resources to anyone on the list. Following an IDF strike on Beirut's southern Dahiyeh area earlier in the day, which prompted Israeli bombings in Iran, the Islamic Republic initiated ballistic missile attacks on Israel, provoking Kallas's declaration. Iran and the Houthis in Yemen launched additional missile attacks on Israel as a result of those strikes. Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
A unit of the Islamic Revolutionary Guard Corps (IRGC) and two Iranian people were sanctioned by the European Union on Monday for endangering the freedom of marine trade in the Strait of Hormuz, which is where around a fifth of the world's oil flows. This was the first time the b…
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International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.