WORLD IN BRIEF: Trump charges 20% Hormuz fee, Volkswagen plans 100,000 job cuts, Gulf tensions weaken South African rand and other stories
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WORLD IN BRIEF: Trump charges 20% Hormuz fee, Volkswagen plans 100,000 job cuts, Gulf tensions weaken South African rand and other stories




US resumes Iran strikes as Trump revives Hormuz blockade, cargo charge plan

The United States has launched fresh military strikes against Iran and announced the resumption of its naval blockade around the Strait of Hormuz, deepening tensions in one of the world’s most critical energy corridors.

US Central Command said overnight strikes targeted an Iranian submarine and a naval maintenance facility, describing the operation as a response to Tehran’s attacks on commercial shipping in the strategic waterway. President Donald Trump also declared that the United States would become the “guardian” of the Strait of Hormuz and said a 20 percent charge would be imposed on cargo passing through the route, although his administration has not explained how such a levy would be enforced.

Iran swiftly rejected the move, with Foreign Minister Abbas Araghchi insisting Tehran has “always been the guardian of the strait”, while the Iranian military warned it would not allow the US to interfere in managing the waterway. The Islamic Revolutionary Guard Corps said it had launched attacks against US military facilities in Jordan, Bahrain and Kuwait, as well as radar installations in Oman. Bahrain accused Iran of targeting civilian areas.

Despite the escalation, some commercial vessels continue to transit the strait, although ship-tracking data indicates traffic remains significantly below normal levels. The renewed confrontation has further jeopardised efforts to restore a ceasefire and threatens global energy markets, given that around one-fifth of the world’s oil and liquefied natural gas exports typically pass through the Strait of Hormuz.

Volkswagen plans up to 100,000 job…



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Read Full Article by Faith Omoboye at businessday.ng
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