US Secretary of State Marco Rubio sought to reassure Gulf allies on Wednesday that Washington's landmark agreement with Iran would not come at the expense of their security, as he met leaders in the United Arab Emirates and Kuwait during a regional tour aimed at easing concerns over the deal.
Iraq is preparing to expand crude oil and naphtha exports through Syrian ports as it moves to diversify trade routes after the Iran war disrupted its main Gulf shipping channels and effectively closed the Strait of Hormuz.
The proposed $300 billion fund being discussed as part of the US-Iran interim peace agreement is intended to serve as a private investment vehicle to help drive economic development and reconstruction in Iran, according to a Reuters report.
The Bahrain Association of Banks (BAB) has announced that Singapore Gulf Bank (SGB) has signed up as a member, reinforcing collaboration across the kingdom’s financial sector and further strengthening its position as a growing financial hub connecting Asia and the Gulf.
Around 20,000 seafarers remain trapped and unable to leave in and around the Strait of Hormuz, said International Maritime Organization (IMO) Secretary-General Arsenio Dominguez.
Warning signs of a regional escalation emerged on Sunday as US President Donald Trump intensified his rhetoric toward Iran, the United Arab Emirates reported a drone strike near its Barakah Nuclear Power Plant, and Saudi Arabia said it had intercepted three drones that entered its airspace from Iraq.
US President Donald Trump on Sunday rejected Iran’s response to a US peace proposal as “totally unacceptable,” dealing a fresh blow to efforts to end the conflict and raising the risk of renewed instability in the Gulf, where shipping through the Strait of Hormuz remains severely disrupted.
Saudi Arabia’s Northern International Highway continues to serve as one of the Kingdom’s most strategically important transport corridors, reinforcing regional trade links and cross-border mobility across the Middle East and beyond.
Fresh diplomatic momentum is building around possible talks between the United States and Iran, with both sides signalling cautious openness even as they stop short of confirming direct engagement.
Oil production across the Gulf, sharply curtailed by the Iran conflict, is expected to stage a strong recovery within months once the Strait of Hormuz fully reopens, according to Goldman Sachs, offering a measure of optimism for regional energy markets.
