Middle East - Azzet - Business news, investments companies & executives

Sign inJoin Now

Middle East

Middle East
UAE energy infrastructure hit by Iranian strikes
Iran has landed new blows to the energy infrastructure of the United Arab Emirates (UAE), which comes amidst concerns of a fuel crisis. Drone attacks were launched throughout the week over the UAE, with fuel tankers, a gas development, and an oil zone all being hit. The strikes have continued, despite growing fears of a fuel and energy crisis which could have a global impact. The latest ones were Tuesday night, with fires breaking out at the huge Shah gas field in the UAE and with a second fuel tanker also hit, off the Strait of Hormuz. Operations at Shah were suspended as a result, but no injuries were reported. The Shah gas field is one of the largest sour gas fields in the world, and is a joint operation, launched in 2010, between Abu Dhabi National Oil Co. and Occidental Petroleum Corp
Middle East
US allies rebuff Trump's call for Hormuz escort ships
Many United States allies have said they will not send ships to escort vessels through the Strait of Hormuz, with U.S. President Donald Trump complaining that they “weren’t that enthusiastic”. Countries including Australia, Japan, and Germany have said they do not have plans to send escort ships. Trump has repeatedly called for allied countries to begin dispatching ships to the strait for escort missions in recent days. Japanese Prime Minister Sanae Takaichi said yesterday that “no decision has been made whatsoever” to dispatch escort ships, while German Chancellor Friedrich Merz said Germany did not have a mandate to do so from the United Nations, European Union, or NATO. Australia does not plan to send escort ships and has not been asked to do so, according to Transport Minister Catherine King. Officials from Greece, Italy, and the Netherlands have also said they do not expect to dispatch ships. “Some are very enthusiastic about it, and some aren’t,” said Trump in response. “Some are countries that we've helped for many, many years. We've protected them from horrible outside sources, and they weren't that enthusiastic. And the level of enthusiasm matters to me.” The Trump administration had planned to announce
Middle East
US could strike oil facilities on Iran's Kharg Island
The United States is considering striking oil infrastructure on Iran’s Kharg Island, according to Ambassador to the United Nations Mike Waltz, following its attacks on the island’s military targets. Kharg Island, a major oil export hub, represents roughly 90% of Iran’s crude exports. The U.S. struck military targets on the island on Friday, though President Donald Trump said it would only attack oil infrastructure if Iran continued blocking the Strait of Hormuz. “President Trump is not going to take any options off the table,” Waltz said in a CNN interview when asked about potential strikes on Kharg Island’s oil facilities. “I would certainly think he would maintain that optionality if he wants to take down their energy infrastructure.” Trump also told NBC News over the weekend that the U.S. may strike Kharg Island “a few more times just for fun”. He claimed that U.S. strikes had “totally decimated” the island apart from its oil infrastructure. The U.S.’ discussions with other countries on possibly escorting tankers through the Strait of Hormuz remain ongoing, Waltz said. Trump had called for countries including the United Kingdom, China, France, and Japan to begin sending ships to the strait for escort missions in
Middle East
US seeks allied navy escorts for Hormuz tankers
The Trump administration is preparing to announce a multinational naval coalition to escort commercial vessels through the Strait of Hormuz, according to United States officials cited by the Wall Street Journal, as escalating attacks on shipping threaten one of the world’s most critical energy chokepoints. The proposed coalition would involve several allied navies providing armed escorts to oil tankers and cargo vessels transiting the narrow waterway along Iran’s southern coast. Officials told the newspaper the announcement could come as early as this week, although discussions remain underway about whether the mission would begin immediately or only after hostilities with Iran subside. The plan reflects mounting pressure on Washington to stabilise maritime traffic through the strait, which normally carries around 20% of global oil and liquefied natural gas shipments. Disruptions since the outbreak of conflict between the United States, Israel and Iran in late February have severely constrained tanker movements and triggered sharp rises in global oil prices. Iran has threatened to target vessels linked to the U.S., Israel or their allies and has warned it could lay naval mines in the strait. At least 16 commercia
Middle East
Trump urges allies to send warships to Strait of Hormuz
United States President Donald Trump has changed his tune on the Iran war, going from saying it will end soon to urging European and Gulf allies to help. The war has resulted in the closure of the Strait of Hormuz, which is where around a fifth of the world’s oil is shipped through. Trump has urged allies of the U.S. to send warships to the strait. “Hopefully, China, France, Japan, South Korea, the UK and others, that are affected by this artificial constraint, will send ships to the areas so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated,” he said in a post to Truth Social. “In the meantime, the United States will be bombing the hell out of the shoreline and continually shooting Iranian Boats and Ships out of the water.” Despite Trump's claims that the U.S. has already “destroyed 100% of Iran’s Military capability”, Iran has threatened escalation across the Middle East as retaliation for American airstrikes on its energy hub. The conflict has now dragged into its third week, with no sign of ending. Three sources familiar with the efforts told Reuters that Trump's administration had rebuffed efforts by Middle Eastern allies to start diplomatic negotiations aime

Middle East
Iranian minelayers sunk off Strait of Hormuz
United States military forces have sunk multiple Iranian ships off the Strait of Hormuz. The sunken vessels included 16 minelayers, with Washington claiming that Iran was laying explosives in the Strait, which serves as a critical shipping lane. On social media, President Donald Trump said that any ships placing mines in the Strait would be “dealt with quickly and violently”. “If Iran has put out any mines in the Hormuz Strait, and we have no reports of them doing so, we want them removed, IMMEDIATELY!", he wrote on Truth Social. “If for any reason mines were placed, and they are not removed forthwith, the Military consequences to Iran will be at a level never seen before.” Shortly after this series of posts, the U.S. military's Central Command warned civilians against using ports along the Strait of Hormuz being used by Iranians, and that they had "eliminated" 16 minelayers. "We will not allow terrorists to hold the Strait of Hormuz hostage," said Defense Secretary Pete Hegseth.
Middle East
Iran will keep blocking Strait of Hormuz, new leader says
Iran will continue to block the Strait of Hormuz and attack United States military bases, the country’s new Supreme Leader Mojtaba Khamenei has said in his first public statement. The strait, where around 20% of global oil flows would usually transit, has been closed by Iran during the war. Iran’s military said yesterday that the U.S. should “get ready for oil to be $200 a barrel” as the blockade continues. “The lever of blocking the Strait of Hormuz must undoubtedly continue to be used,” according to a written statement attributed to Khamenei that was read on Iranian state TV, as a “tool to pressure the enemy”. Oil prices climbed following the statement. Brent crude had risen 10.5% to US$101.60 per barrel by 9:05 am AEDT. Three merchant ships were struck by projectiles near the strait yesterday. Iraqi authorities said two tankers were attacked by Iran at the port of Basra in the Persian Gulf, causing a fire. Iran will also continue to strike United States military bases in the Middle East until the bases are closed, Khamenei’s statement said. “We share land or maritime borders with 15 neighbouring countries and have always sought warm and constructive relations with all of them," per the statement. "These countr
Middle East
Three more ships hit by projectiles in Hormuz
Three additional vessels have been struck by projectiles in the Strait of Hormuz, maritime security and risk firms said on Wednesday. The incidents bring the number of ships hit in the region since the start of the conflict with Iran to at least 14. Shipping traffic through the Strait of Hormuz has slowed dramatically since the United States and Israel began military strikes on Iran on 28 February. The disruption has effectively stalled shipments through a passage that typically carries roughly one-fifth of the world’s oil supply, sending global crude prices to levels not seen since 2022. Iran’s Revolutionary Guards have warned that vessels attempting to pass through the strait could be targeted, while U.S. President Donald Trump has threatened to escalate American military operations if Tehran continues to obstruct the vital maritime route. One of the most serious incidents involved the Thai-flagged dry bulk vessel Mayuree Naree, which was struck by two projectiles while sailing through the Strait of Hormuz on Wednesday. The vessel’s Thai-listed operator, Precious Shipping, said the attack caused a fire and significant damage to the ship’s engine room. “Three crew members are reported missing and believed to
Middle East
Hegseth: Tuesday will be 'most intense day of strikes'
United States Defence Secretary Pete Hegseth said Tuesday would mark the most aggressive phase yet of American military operations inside Iran. Speaking at a Pentagon press conference alongside Gen. Dan Caine, chairman of the Joint Chiefs of Staff, Hegseth said the day’s operations would significantly intensify the campaign. “Today will be yet again our most intense day of strikes inside Iran,” Hegseth said. The defence secretary said Iran’s military response appeared to be weakening, noting that missile launches had declined over the past day. “Iran stands alone, and they are badly losing,” Hegseth said. According to Hegseth, U.S. officials observed that Iran had fired the lowest number of missiles it had been capable of launching since the conflict began, even as Tehran expanded attacks beyond its borders. He criticised Iran for targeting neighbouring Gulf states, including some that had previously maintained cooperative ties with Tehran. The Pentagon chief said the United States would intensify its campaign with a surge of airpower designed to achieve three key military objectives. Those goals, he said, are destroying Iran’s missile stockpiles and its capacity to manufacture additional missiles, destroyi