Iran's digital economy loses up to IRR7 quadrillion in 70 days of internet disruption

Iran's digital economy has suffered losses of between IRR3 quadrillion and IRR7 quadrillion ($1.66bn to $3.88bn) over roughly 70 days of internet disruption.

Saudi Arabia floats non-aggression pact with Iran modelled on Helsinki accords

Saudi Arabia is discussing with allies a non-aggression pact between Middle Eastern states and Iran, modelled on the 1975 Helsinki Final Act.

Iran defends seizure of US tankers as legal under international law

Iran's judiciary has defended the seizure of American oil tankers in Iranian waters as legitimate under domestic law and the 1982 UN Convention on the Law of the Sea, judiciary spokesman Asghar Jahangir said on May 14.

Bluesphere Ventures engages Stem to Model 1 GW of NYC battery storage

New York City anchored developer brings in the largest operator of storage software in the country to stress-test the economics of urban-sited storage at scale

Iraqi hackers claim cyber attacks on US tech giants eBay and Spotify

A pro-Iran hacking group calling itself Team 313 has claimed responsibility for cyber attacks on eBay and Spotify, causing millions in losses.

Hezbollah vows retaliation after Israel issues evacuation order in Lebanon ahead of strikes

Iran claims anti-radiation missiles blinded US destroyers in Hormuz during Operation Project Freedom clash

Claim and counter claim are flying between Washington and Tehran about what happened during the 48 hours that Operation Project Freedom was in effect. Iranian state media claims it used a sophisticated anti-radar missile to blind three US warships.

Iran's Pezeshkian backs negotiated end to war with US

Iranian President Masoud Pezeshkian has said the country should consolidate its battlefield gains through negotiations with the US.

Is the UAE breaking away?

The UAE has left OPEC, lost a proxy war with Saudi Arabia in Yemen, armed a militia accused of genocide in Sudan, recognised Somaliland alongside Israel, and welcomed an Iron Dome battery onto its soil.

Fitch raises 2026-27 oil and gas price assumptions on prolonged Hormuz closure

Fitch Ratings has raised its 2026-2027 oil and gas price assumptions on a longer Strait of Hormuz closure, assuming reopening around July, with Brent expected at USD100-110 per barrel through July before falling to USD70 by September.

The Philippines bets big on nickel’s battery boom

The Philippine nickel sector is itching for a bigger slice of the global critical minerals pie as the world’s appetite for battery metals goes into overdrive.

Qatar resumes LNG shipments through Strait of Hormuz after 70-day wartime halt

Qatar has sent its first liquefied natural gas cargo through the Strait of Hormuz since the outbreak of the Iran war in late February, marking a tentative resumption of energy exports through the strait.

The Iran war exposes fiscal fragility around the world

The Iran war has arrived at the worst possible fiscal moment for most of the world's major economies. Governments spent heavily on Covid, defence and two energy crises. Fiscal space across most of the developed world is limited or exhausted.

US strikes Iran after destroyers come under fire in Hormuz, Project Freedom collapses

The fragile ceasefire between the United States and Iran came under its most severe test yet on May 8 as Iranian forces launched missiles, drones and fast-attack boats against three US Navy destroyers transiting the Strait of Hormuz.

Israel courts Panama at moment of deep isolation and maritime crisis

Israel arrived in Panama championing open waterways, just 67 days after co-initiating the strikes that closed Hormuz. Behind the diplomacy: five strategic objectives, one canal, and a Latin American alliance in construction.

Beijing becomes the chessboard as Iran pre-empts Trump-Xi summit

Araghchi's pre-emptive trip to Beijing, 14 days before Trump meets Xi, has put Iran's interests on the table before Washington can carve them off.

Russia’s oil revenues rebound on Middle East conflict price hike, but gains are modest

Russia’s oil and gas revenues rebounded sharply in April as surging crude prices linked to conflict in the Middle East boosted export earnings, offering the Kremlin temporary relief after months of mounting fiscal pressure.

Saudi Arabia denied US access to bases, forcing Trump to halt Strait of Hormuz operation

Saudi Arabia denied the US military access to Prince Sultan Airbase and Saudi airspace, forcing President Donald Trump to halt his "Project Freedom" Strait of Hormuz operation within 36 hours of its launch

Europe’s Russian Arctic LNG imports from Yamal hit record high in first four months of 2026

The EU imported more Russian Arctic liquefied natural gas in the first four months of 2026 than in any equivalent period since the Yamal LNG project began exporting in 2017, according to new analysis of Kpler shipping data.

Iran rejects US Hormuz resolution as Trump warns of intensified bombing if no deal reached

Iran has rejected a US-led UN Security Council draft resolution on the Strait of Hormuz as President Pezeshkian told French counterpart Macron that Washington's behaviour had derailed diplomacy.