Hezbollah Chief says resistance will continue as memorandum faces mounting pressure
Hezbollah Secretary General Sheikh Naim Qasim has declared that the Lebanese resistance movement will not surrender despite mounting military, economic and political pressure, remarks that come amid growing uncertainty over the implementation of the recently signed memorandum of understanding aimed at ending regional hostilities. Speaking in a televised address, Qasim
Iran closes Starit of Hormuz over breach of war ending agreement
Iran has announced the closure of the strategically important Strait of Hormuz to vessel traffic, escalating tensions in the region amid accusations that the United States and Israel have failed to uphold commitments under a recently signed war-ending memorandum of understanding. The announcement was made by the Islamic Revolutionary Guard
Iran ties future of US deal to Washington’s compliance
Iran’s Parliament Speaker Mohammad Baqer Qalibaf has warned that the future of a newly signed memorandum of understanding between Tehran and Washington will depend entirely on whether the United States honours its commitments. Speaking to Iranian state media, Qalibaf said the agreement is anchored on a strict “action for action”
Global oil supply squeeze deepens as markets fluctuate amid Strait of Hormuz disruption, IMF warns of mounting risks
Global energy markets are under renewed strain after the International Monetary Fund (IMF), alongside the International Energy Agency (IEA), World Bank Group and World Trade Organization (WTO), warned that oil inventories are being depleted at a record pace following major supply disruptions linked to the Strait of Hormuz. In a
Global tensions squeeze Ugandan economy as fuel, fertilizer prices rise
As the United States and Iran pursue diplomatic efforts to ease tensions in the Middle East, economists are warning that the conflict is already creating economic strain across the world, including in Uganda, through rising fuel prices and disruptions in global supply chains. Speaking during a recent webinar organised by
Shilling holds steady amid subdued demand, external uncertainties persist
The Uganda shilling remained largely stable during the week, supported by improved investor sentiment following easing geopolitical tensions in the Middle East. Most corporates stayed on the sidelines as they prioritised shilling liquidity to meet mid-month tax obligations, limiting activity in the foreign exchange market. The local unit traded at
Trump Announces Planned Naval Blockade of Strait of Hormuz After Failed Iran Talks
US President Donald Trump has announced that the United States will begin a naval blockade of the Strait of Hormuz, escalating tensions with Iran following the collapse of high-level negotiations in Pakistan. In a strongly worded statement posted on his social media platform, Trump said the talks had largely progressed
Russia, China Sink Hormuz Resolution, Argue Move Clears Path for Ceasefire Talks
Russia and China have defended their move to block a United Nations Security Council resolution on securing navigation in the Strait of Hormuz, saying the decision has instead created room for ceasefire talks and renewed diplomatic engagement across the Middle East. The draft resolution, tabled by Bahrain and backed by
Oil Tanker Movement Disrupted in Strait of Hormuz as Middle East Tensions Escalate
Transit of oil tankers through the Strait of Hormuz has been disrupted amid rising tensions in the Middle East following renewed Israeli strikes on Lebanon, according to Iranian media reports. Iran’s Fars News Agency said the slowdown in tanker movement coincided with the latest wave of Israeli attacks, heightening concerns
Government Moves to Calm Fuel Fears Amid Middle East Tensions
The Government has stepped in to reassure the public that Uganda’s fuel supply remains steady, even as escalating tensions in the Middle East continue to rattle global oil markets. In a joint statement released on March 30, the Ministry of Energy and Mineral Development and the Uganda National Oil Company
