The conflict between the United States and Iran continues to grow, with fresh military action and rising tensions in the Gulf. US forces carried out a third straight night of strikes on targets inside Iran. Washington said the attacks were meant to reduce threats to commercial shipping in the Strait of Hormuz.
US President Donald Trump also confirmed that the planned 20% cargo fee for ships using the Strait of Hormuz will not move forward. Instead, he said Gulf nations are expected to increase trade and make major investments. However, the US naval blockade of Iranian ports will remain in place.
Iran claimed it launched strikes on US-linked military sites in Kuwait. It also warned that any US effort to control the Strait of Hormuz would be seen as an act of war.
The conflict has also affected India. Missiles struck two UAE oil tankers in the Strait of Hormuz, killing 1 Indian sailor and injuring six others. India condemned attacks on commercial ships and called for safe navigation and a peaceful solution through dialogue.
The situation remains tense, and global markets continue to watch developments closely.